Reinsurance
Catastrophe Bond Funds Say They’ll Dodge Losses as LA Fires Rage
The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks. Roughly 12 percent of the $50 billion cat-bond market is ...
Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become ...
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S. history, draining insurance coffers and threatening California's massive ...
Insured Losses From Natural Disasters Hit $140B in 2024
Insurers saw the third most expensive year for natural catastrophe losses in 2024—reaching a total of $140 billion—as climate change "is showing its claws," according to Munich Re. Overall ...
Andrade Leaving Everest for USAA; Williamson Named Acting CEO
Juan C. Andrade is USAA's new president and chief executive officer, said the insurance provider to millions of active military, veterans, and their families. Andrade will assume the role on April 2 ...
Lloyd’s CEO Neal Appointed Aon CEO of Reinsurance, Chair of Climate Solutions
Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance and chairman of Climate Solutions, effective following the conclusion of Neal's notice period at Lloyd's ...
Reinsurers in Growth Mode Brought Capacity, Flexibility to 1/1 Renewals
Reinsurance buyers generally found ample capacity during the January renewals, reinsurance brokers Aon, Gallagher Re and Howden confirmed in their renewal reports. Increased reinsurer appetites meant ...
Moody’s Global P/C Outlook Now Stable Despite Past-Peak Commercial Pricing
Moody's Ratings changed the sector outlook for the global property/casualty insurance industry to stable from negative last month, pointing to personal lines price hikes in the U.S. and UK as a ...