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Insurance
While the industry is well capitalised and market sentiment mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, according to a study by Guy Carpenter. 17 October 2017
Insurance
The wildfires still raging in California will be among the costliest wildfires on record for US P&C insurers and could cost the industry up to $6 billion, according to early industry estimates. 17 October 2017
Insurance
US homeowners’ premiums increased from $89 billion in 2015, to $91 billion in 2016, and are expected to reach $93 billion in 2017, according to Aon Benfield’s annual Homeowners’ ROE Outlook report, which forecasts continued growth in direct US homeowners’ insurance premiums for 2017 despite a decreasing return on equity (ROE) for insurers. 17 October 2017
Insurance
Re/insurers should view technology as providing the means to evolve and not view it as something that will disrupt the industry, Paul Mang, global CEO of analytics at Aon, told PCI Today. 17 October 2017
Insurance
Reinsurers will seek opportunities for growth in the current market as rates potentially harden, according to Frank Nutter, president of the Reinsurance Association of America (RAA). 17 October 2017
Insurance
Sompo International remains strongly positioned in the market, despite the losses from natural catastrophes that have hit in the third quarter of the year, David Bigley, executive vice president, chief underwriting officer and head of global catastrophe reinsurance at the company, told PCI Today. 17 October 2017
Insurance
The Property Casualty Insurers Association of America (PCI) elected new officers to its Board of Governors during its annual meeting. 17 October 2017
Insurance
London based insurtech start-up SentiSum raised $700,000 to create next generation net promoter score (NPS) and customer sentiment service. 9 October 2017
Insurance
Lloyd’s of London has signed its first Artificial Intelligence (AI) deal to automate business processes in the market. 9 October 2017
Reinsurance
SCOR said on Oct. 9 that Hurricanes Harvey, Irma and Maria, as well as the Mexico earthquakes, will cost the company €430 million net of retrocession and tax for the third quarter of 2017. 9 October 2017
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