Category: Financial

December 4, 2023

Zurich-based catastrophe insurance data provider PERILS has disclosed an initial industry loss estimate of €509 million for the Babet-Aline floods and storms over the British Isles and northwestern Europe in October 2023. In line with the PERILS coverage definition for […]

December 4, 2023

LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investment unit of the private bank and asset manager LGT Capital Partners, is confident that market conditions are going to remain attractive into 2024, even expecting some marginal price increases in […]

December 1, 2023

US 10-year Treasury yields are expected to average 4.2% over the long term, according to the Swiss Re Institute, a figure 40 basis points above its previous forecast. Long-dated US Treasury bonds have sold off sharply this autumn, surprising many […]

November 30, 2023

HDI Global has reported robust growth in revenue and earnings for the first nine months of the 2023 financial year. The industrial insurer recorded a notable improvement in its combined ratio, reaching 92.7% compared to the same period last year. […]

November 27, 2023

Investors in insurance-linked securities (ILS) still haven’t got over the years of “paltry” returns they’ve seen from the asset class since 2017, according to AM Best, but this is one driver for the continuation of the hard market, as well […]

November 22, 2023

A new report from Swiss Re cements the global insurance industry’s position as the world at large faces elevated risks, both macroeconomic and geopolitical. As the global economy heads into 2024, a slowdown is anticipated, with real GDP growth projected […]

November 20, 2023

Pressure mounts on Ron DeSantis as Florida continues to face a historic surge in home insurance premiums. Florida congressman Maxwell Frost is the latest to demand that DeSantis introduce measures to address the issue, adding to previous calls that have […]

November 20, 2023

Annual global catastrophe bond and related insurance-linked securities (ILS) issuance is officially on-track to breach $14 billion for the first time ever in 2023, while traditional 144A property cat bond issuance will also reach a new record high, according to […]

November 15, 2023

The increasing frequency and severity of natural disasters, coupled with escalating home repair costs and other pressures, are pushing homeowners’ insurance out of reach for many Americans, according to a new report from the Insurance Research Council (IRC). The IRC […]

November 15, 2023

In its 9M results, Coface recorded net income of €189.7m, which includes €60.9m for Q3 alone. Coface recorded a consolidated turnover of €1,417.8m for the first 9M, up +7.1% at constant FX and perimeter compared to the first 9M of […]

November 14, 2023

Moody’s RMS has estimated that private market insured losses from Hurricane Otis will be between $2.5 billion and $4.5 billion. According to the firm, this estimate represents insured losses associated primarily with wind damage in the Category 5 hurricane that […]

November 13, 2023

Moody’s has downgraded the Nationwide Mutual Insurance Company (NMIC) and its property & casualty affiliates, Nationwide P&C, insurance financial strength rating to A2 from A1, and downgraded NMIC’s surplus notes rating to Baa1 (hyb) from A3 (hyb). The rating agency […]

November 10, 2023

FG Financial Group, a reinsurance and asset management holding company, has reported a net income of $5.2 million for the third quarter of 2023, compared to $9.8 million from the third quarter of 2022. The company also posted net reinsurance […]

November 9, 2023

Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap property insurance companies, reported a $15.7 million net income in the third quarter, a strong improvement over Q3 last year, when the group saw a $52 million net loss. […]

November 9, 2023

Zurich Insurance Group has reported strong premium growth in its property & casualty (P&C) and life insurance segments into the third quarter of 2023. P&C insurance revenue increased 9% on a reported, like-for-like basis, driven by growth in commercial and […]

November 8, 2023

Munich Re has delivered another very strong quarter of results, helped by major losses and natural catastrophe costs coming in below expectation, which has enabled the reinsurance giant to lift its profit guidance for the full-year. This is despite the […]

November 7, 2023

UK non-life insurance premium income is forecasted to grow 8.5% in 2023, up from 3.9% in 2022, before slowing slightly to 5.1% in 2024 and 4.1% in 2025, according to a recent analysis from EY Item Club. This growth is […]

November 6, 2023

Ohio drivers are grappling with historic auto insurance rate increases after carriers posted hikes that are the steepest seen in the state in at least a decade. Data from the Ohio Department of Insurance has shown that several of the […]

October 27, 2023

Universal Insurance Holdings has reported a Q3 net loss of $5.9 million, much improved compared to a loss of $72.3 million in the same quarter last year, while the firm’s combined ratio dropped 28.5 points to 110.7%. Universal’s adjusted net […]

October 27, 2023

Global broker Aon’s Reinsurance Solutions arm achieved organic revenue growth of 11% in the third quarter of 2023, as revenue across the group increased by 10%, year-on-year, to $2.95 billion, reflecting organic revenue growth of 6%. This growth in organic […]