Articles by L.S. Howard

Insurance Flipsides: Countering the Industry’s Negative Perception Problem

The editors at Wells Media have long noticed that the insurance industry is viewed rather negatively by “civilians” – your customers. As a result, we are beginning a regular series of columns, called “Insurance Flipsides,” which will highlight the many …

Generali to Sell Belgian Operations to Athora Holding for $668.3M in Cash

Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to regulatory approvals. Generali Belgium S.A. …

Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield

Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital levels stood at US$605 billion at Dec. 31, …

Octo Telematics’ Execs to Buy 20% of Russian Shareholder Stake, Paving Way for IPO

Italy’s Octo Telematics announced that its chairman and chief executive have signed a binding agreement to purchase 20 percent of Octo’s shares from Russian company Renova Holdings. This share purchase will reduce Renova’s shareholding in the company to 48.55 percent, …

Non-Catastrophe Losses, Natural Disasters Take Toll on Lloyd’s Market in 2017

The Lloyd’s market’s pre-tax loss of £2 billion (US$2.8 billion) in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued deterioration in its attritional, or non-catastrophe losses …

Attritional Losses Take Their Toll at Lloyd’s, Along with 2017’s Natural Catastrophes

The Lloyd’s market’s pre-tax loss of £2 billion (US$2.8 billion) in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued deterioration in its attritional, or non-catastrophe losses …

SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report

Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, according to a report published by Allianz Global Corporate & Specialty (AGCS). For medium-sized companies with annual revenues between €250 million ($308.9 …

SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report

Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, which could prove catastrophic for some, according to a report published by Allianz Global Corporate & Specialty (AGCS). For medium-sized companies with …

Aspen Ceases Underwriting Property Insurance from Bermuda Platform

Aspen Insurance Holdings confirmed on Friday, Feb. 16 that it has ceased underwriting property insurance on its Bermuda platform, effective immediately, as a result of the company’s 2017 catastrophe losses. The move was made in response to CEO Chris O’Kane’s …

First-Hand Knowledge of Industry’s Problems Led to Idea for InsurePal’s Social Proofing

After spending 15-plus years in and around the insurance industry, Matt Peterman and Tom Volk had first-hand experience of the industry’s systemic problems with fraud and rising premiums. They decided to do something about it, developing what they think will …