Markets
Global Average Annual Disaster Losses Could Surpass $200B in 10 Years: AIR Worldwide
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40 percent chance of experiencing an annual loss of more than $200 billion in ...
Proposed Global Minimum Tax Could Lead to Double Assessment for Some Insurers: AM Best
Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for ...
China’s Ping An Insurance Hit With Profit Plunge Due to Investment Losses, Premium Dive
Ping An Insurance Group Co of China Ltd , the country's largest insurer by market value, posted a 31.2% fall in third-quarter net profit on Wednesday as its premium income shrank on a weak economy ...
Catastrophic Weather Continues to Drive Losses for Home Insurers: LexisNexis Report
Catastrophic weather events caused 39 percent of homeowners insurance claims in 2020—the highest percentage in the last six years, according to LexisNexis Risk Solutions' annual Home Trends Report. ...
COVID Fallout: Insurers Must Address Evolving Small Business Risks
During the past 18 months, the COVID-19 pandemic has wreaked havoc on thousands of U.S. small businesses and created unprecedented challenges for them as well as for their insurers. Amid numerous ...
Chubb’s Q3 Net Income Jumped 58 Percent, Driven by ‘Outstanding’ Premium Revenue
Chubb's Q3 net income soared more than 58 percent year-over-year, as premium gains continued their double-digit climb. "Chubb had a very strong third quarter, highlighted by outstanding premium ...
InsurTechs Focused on Small Business Insurance and ‘Portable’ Benefits Raise Venture Capital
Coterie Insurance raised $50 million to help fuel a widespread launch of its digital platform for small business insurance. Allstate joined a $47 million venture capital round for Stride, an ...
Hack Attack Response: U.S. State Department to Create Cyber Bureau
The U.S. State Department plans to establish a bureau of cyberspace and digital policy in the face of a growing hacking problem, specifically a surge of ransomware attacks on U.S. infrastructure. ...