Reinsurers continued to provide ample casualty reinsurance capacity through the recent January 2025 renewal season – despite concerns about adverse reserve development — however, an availability crisis could be looming, AM Best cautions. In a new report, AM Best points …
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 after seven years of rising rates, according to the Global Insurance Market Index published by insurance …
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 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 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 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 …
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 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 …
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 …
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 …
