Economic losses caused by natural catastrophes reached an estimated US$280 billion in 2023, with US$51.6 billion of that total due to floods, according to Swiss Re Institute. As climate change intensifies extreme weather events and rapid urban sprawl increased asset …
AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 — a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The fundamentals are excellent, but Hurricanes Helene …
The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …
AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 – a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The fundamentals are excellent, but Hurricanes Helene …
The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of at least $102 billion, according to Aon plc in its Q3 Global …
Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …
Now that the market has achieved a first-half profit of £4.9 billion with a combined ratio of 83.7 — its best interim results in 17 years — does this mean the hard market cycle is ending? During a media briefing …
While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, …
Insurance broker Marsh McLennan reported a 6% increase in third quarter consolidated revenue to $5.7 billion, while revenue increased 5% on an underlying (organic) basis. Q3 operating income was $1.1 billion, an 11% increase from $996 million reported in Q3 …
The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …
