reinsurance News
Severe Storms Have Already Led to $34B in Insured Losses This Year
Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time, according to Swiss ...
Severe Convective Storms Dominate Insured Natural Disaster Losses in H1: Swiss Re
Global natural catastrophes cost insurers $50 billion in the first half of 2023, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, ...
Hard Market Game Refuses to End: Arch Capital CEO
Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. ...
Another Insurer Limiting Florida Insurance Policies
AAA won't renew "a very small percentage" of homeowners and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State despite ...
Reinsurance Broker Augment Launches With Access to $100M in Funding
Augment, a new Miami-headquartered reinsurance broker, announced its official launch with access of up to $100 million in funding from Altamont Capital Partners.
One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to ...
Higher Reserving Uncertainties Could Sustain Hard Market Conditions: Report
Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, ...
Will S&P Change ‘Negative’ Reinsurance Outlook to ‘Stable’ in ’23?
While no one directly asked the question of this article's headline at the S&P Global Ratings June annual insurance conference, the prospect that an outlook change is near came into view during ...
Property Insurers’ Ratings Under Pressure as Risk Rises
The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said ...
AXA Weighs Offloading $2B Reinsurance Arm to Cut Exposure to Disasters: Sources