Commercial Lines
Major European Reinsurers Report Strong 2021 Earnings to Date, Despite High Catastrophe Losses
All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower ...
Insurers Plan to Boost Their Private Market Investments: BlackRock
Insurers plan to increase their allocations to private markets to 14% from 11% over the next two years in the hunt for yield, as they add more money to environmentally focused investment funds, ...
The Hartford and Neptune Flood Launch New Climate Change Initiatives
The Hartford will invest $2.5 billion over the next five years in technologies, companies and funds advancing the transition to renewable energy and addressing climate change. Neptune Flood said it ...
U.S. Severe Weather Insured Losses Surpassed $20B After Rough October: Aon
Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report. "October is typically ...
Hannover Re Sells Stake in Joint Venture to Refocus as Pure Reinsurer
Hannover Re is selling its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE, effective Dec. 31, 2021. HDI Global SE will then hold 100% of the ...
Climate Change Puts Financial Heat on Insurers and Policyholders Alike
Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of ...
China’s Ping An Insurance Will Sell $2.1B Stake in Auto Services Portal
Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome , three people familiar with the situation told Reuters. Ping An, which is ...
AIG CEO Zaffino Urges Insurers to Plan for More Climate Change-Related Catastrophe Losses
AIG President and CEO Peter Zaffino urged the insurance industry to acknowledge that more frequent and severe catastrophe losses are likely here to stay, and plan accordingly. "We've never seen ...