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Insurance
The casualty market in the US remains competitive for reinsurers, with rates still very soft in several lines of business and loss trends increasing. But there remain pockets of opportunity and rate decreases will likely slow in the aftermath of the recent hurricane losses. 16 October 2017
Insurance
Reinsurance rates will increase almost across the board in the aftermath of losses from hurricanes Harvey, Irma and Maria as reinsurers “refill the buckets” in anticipation of future cat losses, Axel Freiboth, managing director, North America, Hannover Re, told PCI Today. 16 October 2017
Insurance
Insurers must not get wrapped up in the hype around technology and must instead ensure they innovate and invest in technology in a disciplined way, says Paul Mang, Aon’s global CEO of analytics. 16 October 2017
Insurance
Hiscox Re and ILS has launched a new US personal lines flood product, available to its insurance carrier, according to an Oct. 16 statement. 16 October 2017
Insurance
The US property/casualty market must focus on a number of long-term challenges that threaten insurers and reinsurers, according to David Sampson, the president and chief executive officer of the Property Casualty Insurers Association of America (PCI). 16 October 2017
Insurance
Zurich said that it is selling its UK workplace pensions and savings business with assets under administration of more than £15 billion and around 500,000 customers to Lloyds banking group (LBG). 16 October 2017
Insurance
Despite losses from the recent hurricanes set to exceed $100 billion, AM Best still expects the losses to have only a limited impact on the sector’s capital, making this an earnings event more than a capital event for the overall US property/casualty industry. 16 October 2017
Alternative Risk Transfer
The wide divergence in loss estimates given by the risk modelling community in the aftermath of the US hurricanes could prompt more re/insurers to invest in their own analytical capabilities and get a better handle on their data. 16 October 2017
Insurance
While cyber insurance and reinsurance is expected to enjoy strong growth in the years ahead, there remain considerable challenges to the companies operating in this market, including the ability to price the risks accurately and get a handle on accumulation risks. 16 October 2017
Insurance
Californian automaker Tesla is partnering with Liberty Mutual Insurance to offer an auto insurance plan designed specifically for its electric cars in the US, Bloomberg News reported on Oct. 13. 16 October 2017
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