The ongoing eruption of the Cumbre Vieja volcano, located on the La Palma Island in the Canary Islands archipelago of Spain, is a reminder to insurers of the challenges posed by non-modeled perils,” commented Michal Lörinc, senior catastrophe analyst for …
The era of breakneck growth for electric scooter firms is giving way to more selective expansion focused on profits as they face tougher regulations, more demanding customers and wary insurers. Hurt badly by global coronavirus lockdowns last year, companies offering …
China’s top banking and insurance regulator said it would encourage insurers to accelerate the development of commercial pension products and accident insurance for gig-economy workers such as couriers and takeout deliverymen. China has in recent years experienced a delivery boom …
This edition of International People Moves details appointments at broker Aon, insurtech Marshmallow, and loss adjuster Sedgwick. A summary of these new hires follows here. Aon Appoints WTW’s Forsgård as CEO for Nordic Region Insurance broker Aon plc announced the …
For the fifth consecutive year, insured losses from natural catastrophes are expected to be at or above global reinsurers’ budget expectations, but their very strong capital adequacy continues to provide a cushion, according to S&P Global Ratings. “The top 21 …
Everest Re Group Ltd. and AXIS Capital announced their preliminary third quarter 2021 catastrophe losses. In advance of its full quarterly earnings to be released on Oct. 27, 2021, Everest is estimating total Q3 pre-tax net catastrophe losses of $635 …
Australia’s corporate regulator commenced civil proceedings against a unit of Insurance Australia Group on Friday, for failing to pass on discounts worth A$60 million ($44.51 million) to nearly 600,000 customers. The Australian Securities and Investments Commission (ASIC) alleged that Insurance …
Around half of companies assessed have begun to apply globally agreed climate-related disclosure standards for helping investors to pick firms committed to sustainability, regulators said on Thursday. A task force set up by the Financial Stability Board – which groups …
How can managing general agents build broker relationships during a hardening market when insurers have much less incentive to provide capacity? After more than 25 years as a broker, Peter Blanc, CEO of the Goldman Sachs-owned consolidator broking group, Aston …
French insurer AXA said on Thursday it will invest 1.5 billion euros ($1.74 billion) to support sustainable forest management as part of new commitments to fight deforestation and preserve biodiversity. The announcement comes a day after more than 100 countries …
