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China Taiping has been identified as the building owner’s insurer. -
An “extraordinary” proportion of storms reached Category 5 status this year.
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Despite 2025 losses, carriers have not secured desired rate increases.
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The class of business has shouldered claims totalling over $4bn this year.
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Willis reports that the mining market has softened at a ‘considerable rate’ this year.
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The peril has been historically difficult to model compared to others.
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After a challenging period, the industry is now earning above its cost of capital.
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The sector also faces a potential $700mn loss from a fatal Indonesian mining catastrophe.
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The MGA began offering US commercial E&S property products in December.
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Panellists said the industry must be deliberate in setting a strategy for the right outcomes.
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The executive said the market will be revolutionised by digital technology.
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The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”.
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Cyber claims more than tripled year on year.
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Graham Wynes has been at Lockton for more than 14 years.
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The (re)insurer has a higher-than-average Jamaican market share.
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Specialised service providers like CDK can pose more frequency risk than global operators.
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The loss would be one of the largest ever for mining underwriters.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The June 2024 ransomware attack produced claims across many firms.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Widespread underinsurance and low exposures will limit losses.
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Citi and Berenberg believe the carrier is more resilient than in the past.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The company reported no cat losses but saw a jump in attritional losses.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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The Boeing cargo aircraft was wet leased by Emirates.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Plus, the latest people moves and all the top news of the week.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Differentiating Lloyd’s claims performance could help drive business to the market.
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Though wildfire losses are up, total losses are the lowest since 2015.
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Class actions and third-party litigation funding will drive up losses.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Jennings will reunite with Cameron-Williams, who he worked with at BDO.
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The governor has yet to sign a pending bill to create a public cat model.
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Moretti has relocated to California from London.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Plus, the latest people moves and all the top news of the week.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The report highlighted the gap between insured and uninsured attacks is widening.
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The toll of risk losses sustained by the PVT market this year is mounting.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The major storm is set to move on to mainland China later in the week.
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The economic loss from the event was around EUR7.6bn.
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The 2024-25 period has been the worst on record for claims, with costs of $775mn+.
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The broker said insurers were facing increasing pressure to improve financial performance in claims.
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This publication revealed in February the incident was expected to lead to a major claim.
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The recent Iumi conference highlighted the impact of waning globalisation and tariffs.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Plaintiffs allege that manufacturers and retailers have broken environmental laws.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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Losses were primarily driven by personal property lines.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s chief buyer urged a partnership approach from reinsurers.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The executive said claims can be a differentiator in a softening market.
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The ratings agency warned negative PYD on US casualty will likely continue.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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Submission volume is up 10%-20%, according to sources.
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The group claims the White House is undermining disaster preparedness.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The broker said 2026 will bring a “cautious but deliberate” aviation reinsurance environment.
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She was most recently claims manager at QBE France.
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The company was hit with a data breach on July 16.
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Matthew Budd has over 30 years’ claims experience and previously worked for Talbot and XL.
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The carrier booked top-line growth of 2% in H1.
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Rates were down 3.9% across its portfolio in the first half of 2025.
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The estimate covers property and vehicle claims.
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Steven Crabb will become deputy chairman on the insurance solutions division.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The forecast has increased since the early July update due to several additional factors.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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Written premium increased by 31% to $2.41bn as top-line growth brought expense ratios down.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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California wildfires account for $40bn of the insured loss tally in H1.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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The claim could add pressure to the hull war market after a recent High Court ruling.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The figure updates an April estimate of EUR696mn.
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Bridges joins from QBE, where he spent over 17 years.
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Some 185 credit claims were reported in the market, totalling over $400mn.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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