After tumultuous eight hurricanes in two years between 2004 and 2005, we haven’t seen a hurricane in Florida for over 10 years. Has the state learned from those storms? Are the insurance companies ready? What about the independent adjusting companies, …
North American property/casualty insurers’ operating earnings decreased in the first half of 2016, as results were challenged by modest underwriting deterioration and low investment yields, according to a new report by Fitch Ratings. For a group of 44 (re)insurers, aggregate …
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
A large catastrophic hurricane in 2016 would likely promote a shift towards positive pricing movement following years of property insurance pricing declines in the U.S. property/casualty market, according to Fitch Ratings’ 2016 annual hurricane season reference report. However, abundant available …
Total global reinsurer capital, comprising capital from both the traditional and alternative markets, stood at $565 billion at December 31, 2015 – a reduction of 2 percent relative to the end of 2014, according to a new report from Aon …
Pricing improvements over several years in underwriting portfolios have propelled returns for U.S. regional property and casualty insurers, according to Fitch Ratings. The ability to implement further pricing actions in a more competitive market environment will have a significant influence …
The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses. Rates for property/casualty reinsurance are expected …
Amlin Plc, the second-biggest Lloyd’s of London insurer by market value, posted an eight percent drop in first-half pretax profit on losses from foreign exchange and natural catastrophes. Profit declined to 148.5 million pounds ($248 million) from 161.4 million pounds …
Lately there has been a lot of media attention on the application of drones. Unfortunately, drones have assumed a negative connotation because of stealth military operations and privacy issues. As insurance pros, we need to view drones as simply another …
Axis Capital Holdings Ltd. said second-quarter catastrophe and weather-related losses were $140 million before taxes. Tornadoes and hailstorms in the U.S. and flooding in Argentina and Canada caused $90 million in pretax insurance losses, the Bermuda-based company said in a …