Reinsurance
Swiss Re Execs Sleeping Well After $2.4B Q3 Reserve Boost
While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re's executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs ...
Hannover Re’s Henchoz to Step Down as CEO, Succeeded by CFO Jungsthöfel
Hannover Re announced that Chief Executive Officer Jean-Jacques Henchoz (60) is stepping down and will be replaced by the current chief financial officer, Clemens Jungsthöfel (54). Henchoz has ...
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead ...
Global Reinsurers’ ROE Jumps to 22% in 2023, but Market Softening Unlikely: AM Best
AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22 percent in 2023 – a five-year high that was driven mainly by favorable investment income and strong ...
Year-To-Date Natural Disaster Costs Below Average; Frequency Up: Report
Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re's latest Nat Cat report. The ...
Progressive Retaining Helene, Milton Property Losses Net; Auto Over $0.7B
Progressive disclosed property and vehicle insurance loss estimates for Hurricanes Helene and Milton in conjunction with the carrier's report of third-quarter earnings yesterday, indicating it won't ...
Tornadoes Caused Damage Far From Hurricane Milton Landfall
Tony Brazzale, a diving boat captain who has lived for 10 years in his Wellington home in southeastern Florida, wasn't worried about Hurricane Milton. The storm's center was forecast to make landfall ...
Underwriting Games: To Manage the Cycle Effectively, Focus on Behavior
Prices are under pressure in many insurance markets. After an extended period where pricing levels have risen and held at profitable levels, the balance of power appears to be shifting to buyers. In ...