Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss ...
Reinsurance
Casualty Reinsurance Capacity Plentiful, But Concerns Over Future Availability Loom
Increasing litigation costs and higher jury awards continue to financially pressure the casualty reinsurance segment, forcing reserve strengthening measures for some carriers and prompting narrower ...
Casualty Reinsurance Still Attractive: Arch CEO
While writing primary casualty insurance is more appealing than writing casualty reinsurance, the chief executive of Arch Capital said casualty reinsurance business remains attractive for his ...
Mercury Sees Subro, Re Recoveries Cutting Most of $1.6B+ Wildfire Losses
Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ...
Ex-AIG Chief Duperreault Secures $700M for Mereo Reinsurance Startup
Mereo Advisors, a Bermuda-based firm chaired by former American International Group Inc. Chief Executive Officer Brian Duperreault, has secured more than $700 million to fund its new reinsurance ...
AM Best Data Insights: FAIR Plan, E&S Growth Soars in California
A newly published AM Best report reveals the extent to which California homeowners policyholders have turned to the state's insurer of last resort and to the nonadmitted market for insurance in ...
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...
LA Fire-Related Capital Hit Prompts State Farm Emergency Rate Request
State Farm General Insurance revealed that it has asked the California Department of Insurance to approve an "interim emergency" homeowners insurance rate hike, citing declining capital and a ...
Property-Cat Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe ...