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“Reinsurance remains a safe haven in an uncertain market” – Goldman Sachs
28th June 2022
A new note from Goldman Sachs states that all four large cap reinsurers have underperformed the sector this year, despite a hard market. The financial giant said that this was likely attributable to the impact of higher inflation, higher weather losses, losses resulting from the Russian invasion of Ukraine, along with ... Read the full article
Beazley to offer additional capacity to ESG compliant clients
28th June 2022
Marsh has announced that specialist insurer Beazley is to offer global access to additional capacity to clients that opt in to its Environmental, Social, and Governance (ESG) Risk Rating. Launched in March, Marsh’s ESG Risk Rating is an assessment tool that can measure an organisation’s ESG performance, ... Read the full article
Demanding and persisting underwriting for marine insurance industry: WTW
27th June 2022
Underwriting discipline persists for marine cargo insurance while underwriting for hull and liability remains demanding, according to the latest market update by WTW. A hard market continues for cargo insurance; however, renewed competition and enhanced growth targets in the marketplace have moderated upward rate movement in 2022. While rate increases are to ... Read the full article
Inflation, not rates, driving property premium pain – WTW
23rd June 2022
WTW's Insurance Marketplace Realities Spring Update reports that property insurance premiums will continue to rise throughout 2022, but these increases will mostly be driven by inflation raising insurable values, as opposed to rate increases. Double-digit rate increases are however likely for challenged occupancies such as forest products, metals, waste management, food ... Read the full article
Munich Re backs Amber Group digital asset cover by Arch & OneDegree
21st June 2022
Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article
London market conditions “exciting” for reinsurers: Berenberg
21st June 2022
Analysts at Berenberg have said that “there is a lot for reinsurers and London Market participants to be excited about,” despite the challenges of a difficult macro environment. In a new report, the firm notes that pricing was even better than expected when companies reported at Q1 and the market is ... Read the full article
Corvus appoints Paul Gaspar as Chief Data Officer
16th June 2022
Corvus Insurance, the specialty MGA, has announced the appointment of Paul Gaspar as Chief Data Officer, effective immediately. In this role, Gaspar will lead Corvus’s data infrastructure evolution and innovation. He is charged with scaling Corvus’s core data streams and identifying new sources of information to build upon the company’s ... Read the full article
Crypto & quantum computing among top risks flagged by Swiss Re
16th June 2022
Crypto assets and quantum computing have been flagged by analysts at Swiss Re as two of the most significant emerging risks for insurers and reinsurers, with the potential to create new risks within the global financial system. Swiss Re's 10th edition of SONAR covers 14 emerging risk topics across technological, economic, ... Read the full article
Positive outlook for M&A activity, say Aon and Mergermarket
15th June 2022
The recently released M&A Risk in Review report by Aon and Mergermarket, has found optimism in the market as it suggests that last year's resurgence of M&A activity can be somewhat sustained, yet headwinds persist in the wake of the Covid-19 pandemic. Even though record levels will ... Read the full article
Inflation and geopolitical risks increasing concern for business owners, says Beazley
15th June 2022
A new report from Beazley outlines how business leaders are fearing the consequences of war and inflation. The report, Spotlight on Geopolitical Risks, shows that US and UK business leaders feel able to manage current geopolitical risks, even as concerns over war have risen in the last year. It also found ... Read the full article
US P&C industry’s net incurred losses increases by 12%: AM Best
14th June 2022
According to a new AM Best report, despite witnessing a growth of more than 9% in both direct (DPW) and net premiums (NPW), US property & casualty (P&C) insurers still incurred an $3 billion underwriting loss in 2021. The underwriting loss was largely attributable to a 12.6% increase in net incurred ... Read the full article
Aon agrees to sell eDiscovery practice to TCDI
14th June 2022
Broker Aon, has agreed to sell its eDiscovery practice to TCDI – a leading provider of legal services, software and cybersecurity. The acquisition will strengthen and expand TCDI’s eDiscovery capabilities and geographic reach into the UK. It will also add expansive advisory services such as information and governance to the company’s comprehensive ... Read the full article
“Hard market likely to continue into 2023” – Goldman Sachs
13th June 2022
Goldman Sachs says that the industry is currently in the hardest part of a market cycle that is set to continue into next year. The firm wrote a new note reflecting on the Twenty-Sixth Annual European Financials Conference. In it, it said that claims inflation, geopolitical uncertainty, and natural catastrophe are ... Read the full article
New filters added to the 2022 FM Global Resilience Index
13th June 2022
The 2022 FM Global Resilience Index has been released and updated with 15 economic, risk quality, and supply chain measures that offer insights into the vulnerabilities of a country’s business environment and its resilience. The interactive web tool has been enhanced with climate risks and environmental, social and governance (ESG) filters ... Read the full article
Reinsurers need to rebuild confidence: Ariel Re CEO
10th June 2022
Ariel Re CEO Ryan Mather has asserted that the reinsurance industry needs to work to rebuild confidence in the sector, following a period of challenging conditions and inadequate returns. Speaking in an interview with Reinsurance News, Mather discussed the thinking behind Ariel Re’s "front foot" approach to catastrophe risk and the ... Read the full article