This publication’s tally of disclosed insured losses resulting from Russia’s invasion has increased 18% to $3.1bn.

The demise of the lender underlines concerns about global economic conditions and high interest rates.

The combined ratio reported by Lloyd’s for 2022 would put it in the top half of Insurance Insider’s peer group, analysis of preliminary results shows.

Lloyd’s has drawn attention to an improved attritional loss ratio in 2022, warning the market that it would be “very difficult to get back” if it slips.

The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.

With brokers shifting to new providers to place certain classes, and competition among e-trading firms intensifying, the placement platform landscape has reached a crucial turning point.

Beazley executives spoke of further growth prospects in the class, after its results revealed a 79% combined ratio for its cyber division in 2022.

At the InsurTech Insights Europe event last week, experts explored how AI is on the brink of being commoditised in underwriting.

A canvass of Lloyd’s market executives generated an expected combined ratio of 92%-93% for 2022.

Two of the most-exposed segments to the war have experienced very different years, with sweeping PV changes contrasting to more stable conditions in parts of the aviation sector.

The conflict is set to inflict billions of dollars of losses across the specialty insurance market.

Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup.

There has been no let-up in rate reductions so far this year, as fears mount about the profitability of the class.

Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round.

Marine and aviation markets among most active parts of the industry in recent months, data shows.

Cyber rates in excess layers saw decreases of mid-single digits to low double digits in the last quarter while primary layers remained flat or experienced low rate rises.

Early evidence is leading the (re)insurance market to hope the storm can avoid the development curve of its 2017 predecessor Hurricane Irma.

Annual reviews of natural disaster activity highlighted drought – which can also heighten risk of fire and flood losses – as an increasingly important secondary peril.

Carriers will be looking forward to the positive outcomes from the 1 January harder market, but results will provide clarity on lingering challenges.

More quota share capacity was on offer, but reinsurers were still pushing to manage exposures through loss caps.

Insurers are looking to buy fac protection to cope with increased retentions on treaty programmes, while exclusions around political violence could also boost demand.  

At least $7.8bn in reserves was transferred from the live market to legacy carriers last year, with Enstar the leading acquirer.

Despite a cooling economy, cost of living pressures are keeping wage inflation and mid-pay employee pressures on base.

Specialty reinsurers clamped down on Ukraine coverage at 1.1, with the one-year anniversary of the invasion threatening claims.