WTW Reports 48% Hike in Q2 Net Income With Organic Growth of 6% July 25, 2024 By L.S. Howard WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million...
US Severe Storms Continue to Drive Global Natural Disaster Losses: Gallagher Re July 22, 2024 By L.S. Howard US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the...
Marsh McLennan Reports 8.7% Increase in Q2 Net Income July 18, 2024 By L.S. Howard Insurance broker Marsh McLennan reported second quarter net income of $1.125 billion, an 8.7% increase from $1.035 billion reported during...
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re July 18, 2024 By L.S. Howard Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025,...
Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition July 17, 2024 By L.S. Howard Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey July 15, 2024 By L.S. Howard A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes,...
What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns. July 12, 2024 By L.S. Howard Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in...
Aviva Completes Acquisition of Probitas, Re-entering Lloyd’s After More Than 20 Years July 11, 2024 By L.S. Howard UK insurer Aviva announced it has completed the acquisition of Probitas Holdings (Bermuda) Ltd., which marks the company’s return to...
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers July 8, 2024 By L.S. Howard Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection...
AI and APIs: Essential Tools for Zurich Insurance Group’s Digital Leap July 2, 2024 By L.S. Howard Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in...