High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022: Swiss Re
High inflation alone led to an increase in property/casualty claims of 5-7.5 percent across five key markets in 2022, according to Swiss Re research.
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re
Natural disasters in 2022 brought global economic losses of $275 billion, of which insurance covered 45 percent, or $125 billion, according to Swiss Re's latest sigma ...
Insured Losses From New Zealand Floods Estimated at $1.02B, With Profit Hit Expected
The initial insured losses for the recent floods in the North Island of New Zealand are estimated at NZ$1.65 billion ($1.02 billion), according to PERILS, the independent ...
Lloyd’s 2022 Underwriting Results ‘Strong’ Despite Bottom-Line Red Ink
Lloyd's reported an interim full-year 2022 loss before tax of $947.6 million (£800 million ) as a result of investment losses of approximately $3.6 billion (£3 billion). This compares to a profit ...
Insurer Startup Trium Cyber Finds Path to Profits, With Large Business Focus
Trium Cyber is the industry's first Lloyd's-approved company to provide mono-line cyber coverage for U.S. risks. Launched in January 2023, the full-stack surplus lines ...
Reinsurance Recap: 2022 Results Mixed as Market Improves
Full-year 2022 financial results, reported by a handful of international groups that write reinsurance, show mixed results in a market full of challenges—ranging from inflation to the Ukraine war ...
QBE Insurance Announces $1.9 Billion Loss Portfolio Transfer With Enstar
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group's exposure to portfolio reserves totaling ...
Zurich Insurance Net Income Fell 12%, Internal Profit Rose 12% in 2022
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12 percent decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital ...
Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal
Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction ...
Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading ...