Articles by L.S. Howard

Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 – marking the second consecutive quarterly decrease following seven years of rising rates, according to the Global Insurance Market Index published …

WTW Reports Net Loss in 2024 With Organic Revenue Growth of 5%

WTW reported net Income for the fourth quarter of 2024 of $1.25 billion, compared to net income of $623 million in the same period in 2023. However, the broker saw a net loss for the year of $88 million, compared …

Aon Reports Organic Growth of 6% for 4th Quarter and Full-Year 2024

Aon reported net income attributable to shareholders of $716 million during the fourth quarter, a 44% increase from the $498 million reported in Q4 2023. For full-year 2024, net income attributable to shareholders increased to $2.7 billion, or $12.49 per …

Marsh McLennan Reports Organic Growth of 7% During Q4 and Full-Year 2024

Marsh McLennan reported fourth quarter net income of $788 million, compared with $756 billion during Q4 2023. For the full-year 2024, MMC had net income of $4.1 billion, compared with $3.8 billion reported for FY 2023. Operating income for the …

Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’

Insurers saw the third most expensive year for natural catastrophe losses in 2024 — reaching a total of $140 billion — as climate change “is showing its claws,” according to Munich Re. Overall economic losses from natural disasters worldwide reached …

Reinsurance Buyers With Good Portfolio Stories See Better Renewal Outcomes: Brokers

Reinsurance buyers generally found ample capacity during January renewals as well as increased reinsurer appetite, which led to risk-adjusted rate reductions and improved terms and conditions for clients that could demonstrate differentiated strategies, reinsurance brokers Aon, Gallagher Re, and Howden …

LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch

The Los Angeles wildfires could consume more than 30% of the aggregate natural catastrophe budgets set for 2025 by Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR, according to a Fitch Ratings commentary. Insured losses …

Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?

There has been some question about whether California’s insurer of last resort – the FAIR Plan – has enough cash on hand to pay for its share of wildfire claims. As surplus is inadequate and reinsurance has a deductible that …

Cyber, Business Interruption, Natural Disasters Listed as Top 3 Business Risks: Allianz

Cyber, business interruption and natural catastrophes are the top three risks that concern global businesses, according to the Allianz Risk Barometer 2025. Cyber incidents, such as ransomware attacks, data breaches and IT outages, is the top global risk for 2025, …

Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …