Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023. Adjusted net income attributable to Aon shareholders increased 9% during Q2 2024 to $624 million, compared …
WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million in the prior-year second quarter. Q2 adjusted net income rose 20% to $263 million, from $219 million reported in the …
US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, US SCS accounted for a minimum $37 billion – …
Insurance broker Marsh McLennan reported second quarter net income of $1.125 billion, an 8.7% increase from $1.035 billion reported during Q2 2023. Operating income rose 13% to $1.6 billion. Q2 earnings per share increased 10% to $2.27, while adjusted earnings …
Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss Re in a report, which discusses the macroeconomic factors …
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal agreement was signed in November 2023, “James River immediately began depriving …
A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. …
Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in “the class of 1992,” “the class …
UK insurer Aviva announced it has completed the acquisition of Probitas Holdings (Bermuda) Ltd., which marks the company’s return to the Lloyd’s market after a hiatus of more than 20 years. The deal with Probitas, first announced in March, was …
Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …
