Global Economy
Second Hurricane in a Month Heads Toward U.S. Gulf Coast
Tropical Storm Sally strengthened off the west coast of Florida on Sunday and was poised to become a category 2 hurricane, bringing the threat of dangerous storm surges and high winds to the U.S. ...
Munich Re Pauses Selling Pandemic Business Coverage After Big H1 Losses
Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. ...
Underwriting Discipline Will Rule With January 1 Reinsurance Renewals
Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions ...
Global Reinsurers Face Major Hardening Market Over Next Two Years: Munich Re
Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to ...
Despite COVID Losses, Lloyd’s Underlying Underwriting Results See Big Improvement
While Lloyd's overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market's underlying underwriting performance saw a "huge improvement," which Chief ...
Consortium to Buy Aviva’s Singapore Business for $1.98B
British life, motor and home insurer Aviva said on Friday it will sell its majority shareholding in its Singapore business to a consortium led by Singapore Life for S$2.7 billion ($1.98 billion), as ...
Greenlight Re Triggers ‘Refresh’ of Operations With Executive Changes
Greenlight Capital Re made some major executive changes in what the company is dubbing a "refresh" of its operations. The Cayman Islands-based specialist property and casualty reinsurance company ...
ACORD’s Innovation Tools Experiencing Soaring Reinsurance Demand
ACORD, the standard setting body for the global insurance industry, is experiencing a massive jump in global reinsurance and other industry interest in its digital products and services, CEO Bill ...