Higher ESG ratings lead to better underwriting performance, according to a new joint study today by international insurance broker, Howden, and specialty insurance and (re)insurance business Fidelis. The study of loss ratios across 30,000 policies from Howden and Fidelis’ datasets comprising a premium value of around USD9 billion, against third...
TD Bank Group (TD) has announced a new alignment of its reportable business segments to establish a Wealth Management and Insurance segment. This change is effective the beginning of the fourth quarter of 2022 and reflects how the Bank will now view its businesses for management reporting purposes. Previously, Wealth...
Berkshire Hathaway has announced the completion of Berkshire Hathaway’s acquisition of Alleghany. Holders of Alleghany common stock as of immediately prior to the closing of the transaction are entitled to receive USD848.02 per share in cash, representing a total equity value of approximately USD11.6 billion. Upon the closing of the...
Swiss Re estimates its preliminary claims from Hurricane Ian at approximately USD1.3 billion, resulting in an expected Group net loss of approximately USD0.5 billion for the third quarter of 2022. While the 2022 target of 10 percent Group ROE is unlikely to be reached given the impact from natural catastrophes,...
Almost 800 senior leaders from life insurance and financial services companies worldwide attended the 2022 LIMRA Annual Conference. Opening the event, David Levenson, president and CEO of LIMRA and LOMA, discussed the opportunities in the life insurance, annuity, and workplace benefits markets to serve more customers. “Our industry has shown...
Personal lines insurtech Policy Expert, has announced its partnership with comparison website Quotezone.co.uk, adding its car insurance product to the panel of insurance experts. Adam Powell, COO at Policy Expert commented: “Policy Expert sets out to reengineer the insurance process to save money for the average UK consumer and remove...
Amazon has announced the launch of its home insurance comparison online business for its UK customers. Called the Amazon Insurance Store, the service works with three participating insurers, with more to be added in due course. “Shopping online for home insurance is a well-established experience, and our goal is to...
Optimal risk-sharing is fundamental to a successful transition to carbon neutrality, protecting our organisations and our societies against extreme risks in the face of climate change, and in the battle against cyber-crime, said Dirk Wegener, president of the Federation of European Risk Managers. Wegener was opening the FERMA Forum, attended...
Allianz has announced that it has completed the transaction to acquire a majority stake in Jubilee Holdings Limited’s general insurance business in East Africa, namely Kenya, Uganda, Tanzania, Burundi and Mauritius. The two companies had announced the agreement on September 29, 2020, wherein Allianz had agreed to acquire the majority...
Howden and Allianz Trade recently announced their API partnership for structured credit insurance. This is Howden’s second API partnership in the sector this quarter. This partnership reflects the rapidly developing landscape of the structured credit insurance market, which is quickly digitising to better serve institutional clients. The HowdenCAP-Allianz Trade collaboration...
