A report forecasts claims from two California wildfires last month will exceed $1 billion. Wildfires in 2015 have caused more damage and financial loss in the U.S. than in any other year since 2007, according to the report. Peak U.S. …
An analysis by the San Antonio Fire Department says the arrival of specialized resources to a December fire that killed five residents of a senior living facility near San Antonio, Texas, was delayed because responders were unaware it was a …
The potential impact of climate change on the insurance industry was important enough for consulting giant Deloitte Touche Tohmatsu Ltd. to include the topic as a significant part of its recent 2015 Property and Casualty Insurance Outlook. The bulk of …
Guy Carpenter & Company reports reinsurance pricing fell at the January 1, 2015 renewals in many segments, affecting almost all lines of business and geographies, continuing recent renewal trends. According to Guy Carpenter’s 2015 global renewals report, entitled “Shaping the …
Insurers in the Middle East have strong levels of risk-adjusted capital, although they continue to rely heavily on reinsurance protection and carry elevated levels of investment risk. A new report from A.M. Best states that insurance markets in the Middle …
Insurers and reinsurers in western Europe posted solid performances in 2014 and retained their capital strength against a backdrop of economic calm, according to a new special report from A.M. Best. The report analyzes the agency’s ratings actions through the …
A new special report from A.M. Best discusses the need for non-life and life insurers to address threats called “grey swans,” the low-probability, high-severity events that have the potential to impair balance sheets and lower financial strength ratings. “Although some …
Understanding and managing risk is increasingly a critical success factor for financial institutions, according to a report on financial institutions issued by Aon Risk Solutions, the risk management business of Aon plc. Entitled “2014 EMEA Financial Institutions Industry Report,” the …
A.M. Best said it would be premature to draw negative conclusions from the most recent Solvency II stress tests conducted by the European Insurance and Occupational Pensions Authority (EIOPA) and does not anticipate any rating implications at this stage. In …
The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled, “Last Resort Insurers Welcome Relief From …
