AM Best: FL special session needs long-term solutions to avoid insolvencies, attract national players
Florida’s special legislative session must result in “immediate and substantive long-term legislative reforms” in order to avoid further insolvencies and attract national insurers and reinsurers, AM Best has warned in a new report.
US insurance stocks post moderate weekly gains as Fed’s hawkish stance appears to recede
Share prices for 52 of the 89 (re)insurance companies tracked by investment banks Stonybrook and Weild & Co advanced last week amid mild gains for Wall Street.
P&C insurance stocks maintain upward trend in November
Improving investor sentiment continued to benefit European and US insurance shares in November as all major benchmarks recorded their first back-to-back monthly gains since August 2021.
Lloyd’s 2023 stamp capacity up ~21% as majority of syndicates approved to grow
Lloyd’s will operate with a total market stamp capacity of at least £47.9bn ($59.4bn) in 2023, up 20.9 percent year on year, with 68 of 80 respondents to The Insurer’s annual capacity survey having gained business plan approval to grow at 1 January.
Hurricane season 2022: It only takes one storm…
Today marks the official end of the 2022 Atlantic hurricane season – a season that, from an insured loss perspective, will ultimately be remembered for Hurricane Ian.
Aircraft lessor lawsuits now top $6.7bn for jets in Russia
Legal cases launched by aircraft leasing firms against insurers over the loss of hundreds of planes stuck in Russia since Moscow’s invasion of Ukraine now total $6.69bn, analysis by The Insurer shows.
US commercial pricing shows overall moderation with greater divergence between lines
Feedback on Q3 US commercial pricing from insurance leaders and other observers reveals continued moderation of increases overall albeit with individual lines moving at different directions and speeds, with Hurricane Ian expected to lead to property hardening.
R&Q share price drifts to new low adding to potential 2023 capital squeeze
R&Q’s share price fell to an all-time low yesterday before closing at 68 pence and is now 28 percent down since the firm won a bruising victory over shareholder activists trying to overthrow executive chairman William Spiegel.
Reinsurer shares outperform as US equities waver
The P&C insurance industry composite of US-listed stocks compiled by investment banks Stonybrook and Weild & Co closed last week with a modest decline of 0.6 percent amid losses in all major US benchmarks.
MS&AD, Sompo and Tokio Marine take disclosed Ian losses to $17bn
The release of quarterly and half-year results from the big three Japanese insurers on Friday has pushed disclosed Hurricane Ian-related net losses to over $17bn, according to analysis by The Insurer.
Woodruff Sawyer forecasts “mixed bag” for property casualty in 2023
Premiums will continue to increase, although at a slower rate, across most commercial lines segments in 2023, which will “be the year of options” for the property market while the casualty market will “remain challenging”, according to US retail broker Woodruff Sawyer.
Mixed week for US P&C stocks despite Wall Street rally
The P&C insurance industry composite of US-listed shares compiled by investment banks Stonybrook and Weild & Co was up 2.4 percent on average last week but the majority of insurance stocks recorded falls.
Disclosed Ian-related net losses reach $16bn
London-listed carriers have so far recorded the second-largest impact from Hurricane Ian as a proportion of total shareholders’ equity, according to analysis by The Insurer.
US P&C industry composite flat amid rocky week for global equities
The P&C insurance industry composite of US-listed stocks compiled by investment banks Stonybrook and Weild & Co was down 0.3 percent last week but still outperformed all major US equity benchmarks
P&C insurance stocks swept up in global markets October rally
US and European P&C insurance stocks were swept up in a widespread market rally in October which sent global equities soaring and saw all the major averages break a two-month losing streak, as investors looked to more traditional companies, like insurers, to lead the next bull market.
Diverging retro paths of big four reinsurers likely to continue in the year ahead
As discussions continue around 1.1 renewals, The Insurer recaps the diverging approaches taken by Europe’s big four reinsurers towards retro protection and catastrophe risk in 2022.
Stonybrook US P&C composite lags despite performance of reinsurer and broker stocks
The P&C insurance industry composite of US-listed stocks compiled by boutique sector-focused investment bank Stonybrook was up 1 percent last week, underperforming a relative rally in the major Wall Street indices despite a strong showing from reinsurers, global P&C insurers and brokers.
Mixed fortunes for European reinsurance stocks amid 2022 financial turbulence
With just over two months left of trading in the year, shares in Munich Re and Hannover Re have significantly outperformed all major European indices, in stark contrast to Scor’s shares which have almost halved in value.
Big four reinsurers’ oil & gas exit policies signpost broader industry’s withdrawal from fossil fuel underwriting
Munich Re’s recent announcement that it will no longer insure new conventional oil and gas projects as of 1 April 2023 means all of the big four reinsurers have now extended their underwriting restrictions to the whole spectrum of fossil fuels.
Hurricane Ian: conflicting signals as early claims data hints at a sub $50bn loss but creep fears remain
In the weeks that have followed Hurricane Ian’s Florida landfall, a complex loss picture has emerged which will take years to settle.
What the Stonegate BI judgment means for insurers
Analysing Florida carriers’ Ian loss disclosures
Q3 earnings preview: Ian losses the big topic while rate changes also in focus
Cross-class cyber perils require more sophisticated products
Ian loss estimate disparity highlights how non-modelled factors are driving top-end forecasts
Global specialty equity index September gains flushed by Ian and global market sell-off
FCA: UK Covid-19 BI payouts top £1.51bn
P&C insurance stocks flounder in September amid global equity sell-off
Reinsurance stocks rally following shift in Ian forecast track
Growing Tampa storm surge risk stokes major industry loss fears
Universal and Citizens lead Florida HO market share as major hurricane threat grows
Reinsurers’ shares under pressure amid awakening of Atlantic storm activity
1.1 cat reinsurance: who’s in, who’s out and who’s in doubt?
Insurtech stocks continue to fall in September after short-lived summer rebound
Property in transition as some reinsurers become scaredy-cats
(Almost) everything in moderation
Global specialty (re)insurance equity index holds up three times better than overall market in YTD
Top 10 Reinsurance Broker Rankings
Lloyd’s poised to reach record size as syndicates eye double-digit growth in 2023
Russia-Ukraine loss uncertainty continues but changing risk perception already shifting market dynamics
Further issuance growth tipped for cat bond market despite price hardening
What will it take to stem the tide of UK BI litigation?
Inflation driving increased demand for catastrophe reinsurance in run-up to 1.1
Scor underperforms big four peers in choppy August
Cyber vulnerabilities present reputation risk for insurers
US/Bermuda Q2 results season: winners and losers
Is London a future hub for captives?
European Q2 results: winners and losers
Are US auto insurers on road to recovery after further pain in Q2?
MSI-Transverse deal sparks valuation frenzy in fronting space
California auto concerns mount as regulator continues to push back on rate rises
London specialty carriers’ H1 earnings bode well for Lloyd’s mid-year results
HCI among the few targeting Florida opportunity where others fear to tread
Russia-Ukraine: Q2 brings little clarity on losses but changing risk perception already shifting market dynamics
RISX global specialty equity index was only faller across all composites in July
Early targeted stamp increases point to largest Lloyd’s capacity on record in 2023
$2.41bn insurtech investment in Q2 up sequentially, down 50% over Q2 2021
P&C insurance stocks miss out on global markets July rebound
AM Best: US crop premiums surged in 2021 while results improved
Aviation: The talent take-off
Conning: US MGA market growth rate to slow after DPW surged 15.5% in ‘21
AM Best: US inland marine market to grow further after rebound in 2021
Q2 earnings: book value hit and macro headwinds but will attention turn to reserves?
Gallagher Re: Lloyd’s narrowing acquisition cost gap on international peers
Global specialty (re)insurance equity index held up five times better than the overall market in H1 2022
More companies weigh in on SCOTUS abortion ruling
Public insurtech market cap halves in H1
Hiscox and Beazley outperform as European insurers dragged down in H1 rout
Cat bond investors selecting carefully but strong issuance expected in H2
WRB and Hiscox outperform as insurers dragged down in H1 rout