Articles by Carolyn Cohn

UK P&I Club Chooses Dublin as EU Headquarters After Brexit

British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …

EU Wants Insurers to Plug Investment Gap, but Bank Partners Needed: Regulator

Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU insurance capital rules known as Solvency …

Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018

Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …

Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire

Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed up to 80 …

Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma

Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural catastrophes have been low in recent years, including in …

Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B

Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural catastrophes have been low in recent years, including in …

EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs

London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some insurers have been shopping around for jurisdictions which …

Insurers Hope Insurtech Will ‘Nudge’ Customers to Less Risky Behaviors

Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising to save …

Britain to Lose Out on 10,000 Finance Jobs in First Wave of Brexit Reaction: Reuters Survey

Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers …

Pre-Monte Carlo Outlook: Reinsurance Rates to Drop Up to 7.5% Despite Harvey

Global reinsurance rates are likely to fall by up to 7.5 percent at Jan 2018 renewals due to strong competition, despite the impact of Hurricane Harvey, ratings agencies said on Tuesday. Reinsurers, which help insurers shoulder the burden of large …