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.
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.
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.
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
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.
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.
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.
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.