Latest Property-Catastrophe News
The firm pinned a decline in net investment income of roughly 90% for the first half of the year on rising interest rates in the US, although chief executive Andrew Horton is adamant that these hikes will offer increased returns by year's end.
Catastrophe losses were $50m more than expected for the quarter leading to a decline in net and core income.
Allstate's estimated pre-tax catastrophe claims reached $906m in the second quarter, with the insurer's 2018 proving to less impactful at the mid-way point of the year when compared with 2017.
Natural disasters across the world caused significantly lower losses than usual in the first half of 2018, according to provisional figures, with overall losses at around $33bn, the lowest level since 2005.
Severe storms throughout the US have caused insurers an estimated $3bn in losses in June, according to Aon's global catastrophe recap report.
The catastrophe bond is one of the largest completed by a Florida insurer in the last three years.
Despite China’s great nat cat exposures, low levels of commercial insurance penetration still dominate the market. China’s senior industry officials talk to Reactions about the state of the Chinese insurance industry.
Advanced economies are stagnating when it comes to premium growth, but smaller markets are exhibiting notable swings in premiums according to Swiss Re's Sigma report.
Insurance premium volume increased 1.5% to nearly $5tn in 2017, mostly thanks to China and other emerging markets but issues remain in Europe and North America, new figures from Swiss Re show.
A major eruption of Mount Agnung in Indonesia could cause more than $70bn in economic losses, but insured losses are expected to be low.
Africa Re’s group managing director and CEO, Corneille Karekezi, gives his perspective on the outlook for the continent’s reinsurance markets.
Willis Re’s chief executive John Cavanagh remains optimistic at his company’s future growth prospects even though market conditions are tough.
Developing products that actually meet the needs of those in emerging economies, as well as creating reliable and user-friendly ways of both paying premium and collecting claims, will all determine whether the multi-company multi insurance venture incubator is a success, says Aspen’s Mario Vitale.
Hiscox Re has scaled back at recent renewals, reducing its concentration on property catastrophe.
Novae can start considering acquisitions rather than being acquired since share value has soared above book value, Novae’s CEO tells Reactions.
Interview: The top threat to catastrophe reinsurer RenaissanceRe’s new CEO Kevin O'Donnell maintaining his predecessor’s enviable returns is a flood of alternative reinsurance capacity settling for single-digit returns. He is bullish about RenRe's future.
Interview: The National Flood Insurance Program (NFIP) is unsustainable, says Swiss Re’s Americas CEO Eric Smith. He and others are now suggesting that the private sector needs to take up some of the burden to ensure flood protection remains in the US.
Interview: Swiss Re’s Canada CEO believes consolidation among Canadian insurers will boost reinsurance demand as well as kick-start cat bonds. Insurers are also looking for reinsurance as a result of onerous new solvency requirements for BC earthquake.
In this month's Reactions