Reinsurance News
PwC
Critical role for re/insurers in net zero transition & enabling climate tech: PwC
3rd September 2022
With the back-in-person Monte Carlo Rendez-vous reinsurance industry event happening in just a week's time, PwC is highlighting the important role of re/insurers and underwriters in supporting the transition to net zero, as well as in enabling climate tech innovation. PwC is hosting a special session (details below) at the ... Read the full article
UK insurers cautiously optimistic about business prospects: CBI/PwC
30th August 2022
Financial services, like insurance, are feeling the impact of rising inflation, labour shortages, supply chain disruption and sharp falls in consumer and business confidence that the UK economy is currently facing. According to the latest CBI/PwC Financial Services survey, insurers remain cautiously optimistic about their business prospects as they face pressures ... Read the full article
Renewed interest in Hong Kong’s insurance market, says PWC
16th August 2022
As the effects of Covid-19 start to clear, there is a renewal of interest and activity on the horizon in Hong Kong’s Insurance market from some of the largest Western international insurance groups, says a recent PWC report. The Special Administrative Region of Hong Kong remains the most attractive gateway for ... Read the full article
Run-off sector deals continue to rise, says PWC
4th August 2022
Non-life insurance run-off deals continue to increase, with the announcement of 18 deals and an estimated $5.4bn disclosed gross liabilities transacted through the first half of 2022. The sector has continued to see a variety of deal sizes with deals ranging in the first half of the year from $10m to ... Read the full article
Megan Green announced as new partner at PwC Bermuda
1st July 2022
PwC Bermuda has announced that Megan Green has been promoted to partner in the firm, effective 1st July, 2022. She joined the company in 2017 as a Director in the Asset and Wealth Management practice. Green has over 13 years of audit experience in both Bermuda and Australia. She spent 8 years ... Read the full article
PwC warns of insurance bill rises caused by inflation
30th June 2022
PwC estimates that UK businesses may see price rises of between 10-20% in the cost of their annual insurance bill. The professional services firm said that this was the direct result of a rising consumer price index, which has ‘significantly’ increased the costs of materials and labour in the settlement of ... Read the full article
PwC outlines five trends impacting the insurance industry
26th May 2022
A new report from PWC has outlined five trends it sees affecting the future of insurance. The firm, in its Insurance Reimagined: Spotlight on Trust, Convergence, and Transformation report, says that the five trends are a widening trust gap in an uncertain world; rapidly evolving consumer needs and preferences; an increasingly ... Read the full article
“Strong momentum in run-off sector continues” – PWC
16th May 2022
Strong momentum in the non-life run-off sector last year continued into 2022 with the announcement of eleven deals, says a new report from PWC. The professional services firm said that while the number of deals announced was slightly lower than Q1 2021, the total estimated value of executed deals during Q1 ... Read the full article
PwC Bermuda appoints Joseph Gordon to lead new deals platform
15th March 2022
Global provider of assurance, advisory and tax services, PwC, has announced the appointment of Joseph Gordon, who returns to the company to lead a new deals platform. He will be working for PwC’s reinsurance advisory and consulting business, which is largely focused on serving the Bermuda insurance and reinsurance sector. The firm ... Read the full article
Re/insurer resilience a “bright light” in Bermuda’s economy: PwC’s Wightman
28th January 2022
Arthur Wightman, Territory leader for PwC Bermuda, has described the insurance and reinsurance sector’s resilience as a “bright light in Bermuda’s economy,” as part of a PwC report that shows growing optimism among CEOs regarding the global economy. After surveying thousands of CEOs between October and November last year, PwC found ... Read the full article
Storm Arwen could drive insured losses of up to £300m: PwC’s Khan
30th November 2021
Storm Arwen, which brought wind gusts of nearly 100mph to parts of the UK late on Friday, could result in insurance industry losses of between £250 million and £300 million, according to Mohammad Khan, General Insurance Leader at PwC UK. Across the country, heavy snow and severe winds caused widespread disruption ... Read the full article
Climate change a growing concern for global re/insurers: PwC
8th November 2021
The PwC Insurance Banana Skins 2021 survey shows that cybercrime is ranked as the number one risk by carriers globally, while climate change tops the list for reinsurers amid a rise in natural catastrophe events. The latest global edition of the biennial survey includes responses from more than 600 industry leaders ... Read the full article
Financial services firms to boost spending on cyber security: PwC
19th July 2021
Financial services firms are expected to boost IT spending in an effort to tighten up cybersecurity, according to new data from PwC UK and the CBI. The latest results from the CBI/PwC Financial Services Survey 2021 show that 70% of firms are planning to invest more over the next 12 months, ... Read the full article
Legacy deal activity to remain at record levels: PwC
23rd February 2021
New data from PwC shows that participants in the legacy re/insurance market expect deal activity to remain “at record highs” this year, with the US and Lloyd’s markets set to be particularly busy. Respondents to PwC’s Global Insurance Run-off Survey reported that predicted growth in the legacy market materialized over 2020, ... Read the full article
Home & motor rates to fall through 2021, says PwC
19th February 2021
Analysts at PwC believe that home and motor insurance prices in the UK are likely to fall through 2021 in response to changing regulations and the ongoing COVID-19 pandemic. In combination with growing levels of competition, PwC believes motor premiums could fall by 5-10% this year, while home insurance premiums could ... Read the full article
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