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Reinsurers likely to generate profits despite high claims activity: AM Best

Unlike other hard markets, this cycle was not triggered by a single cat event, but rather by an accumulation of secondary perils.

Aisling Finn, 21 August 2023
Marsh to acquire Australian real estate broker Honan

On completion, Honan CEO Fluitsma will report to Marsh Pacific CEO Nick Harris.

Abbie Day, 21 August 2023
IAG natural peril allowance rises 26% to A$1.15bn

The carrier’s net natural perils cost of A$1.2bn overshot its allowance by A$290mn in a "significant" loss year ending 30 June.

Abbie Day, 21 August 2023
International loss-creep may be low-cost, but it will reverberate into 1.1

However minor an irritant these losses are for global carriers, their impact is likely to have an outsized influence on the narrative heading into the 1 January renewals.

Fiona Robertson, 21 August 2023
Tornado-exposed bonds pummelled as hailstones drive US frequency losses

At least six aggregate bonds offering convective storm cover have been marked down by around an average of more than 20% on the secondary market.

Liz Bury, 14 August 2023
Hurricane Hilary tracking east of CA coastal cities, petering out in east LA: NHC

Earlier this afternoon, San Diego County issued a tropical storm warning related to Hilary – the first in its history.

Shelby Rosenberg, 18 August 2023
Insurers remain conservative after uncertain Q2 and record H1 cat losses: Aon

Carriers continue to adapt their appetite, capacity deployment, coverage language, attachment points and pricing to manage portfolio performance.

Abbie Day, 18 August 2023
BMA and White Rock Bermuda to take joint action against Vesttoo cells over alleged fraud

Both organizations have agreed for the appointment of a liquidator for Vesttoo transaction structures at the Supreme Court of Bermuda.

Abbie Day, 18 August 2023
Recent severe convective storms drive estimated hundreds of millions in total losses: Aon

Severe convective storms caused strong winds, large hail and flash flooding in parts of the US and Canada between August 10 and August 15.

Shelby Rosenberg, 18 August 2023
Lloyd’s syndicate 2024 capacity auction dates announced

The auctions will take place in October-November this year.

Rachel Dalton, 18 August 2023

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