Verisk has estimated that insured losses to onshore property for Hurricane Ian will range from USD42 billion to USD57 billion. The industry loss estimate from Verisk Extreme Event Solutions includes estimated wind, storm surge, and inland flood losses resulting from Ian’s landfalls in both Florida and South Carolina. The loss...
Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry’s entire ecosystem. apinity GmbH was until recently a Syncier GmbH business unit, operating under the name Syncier Marketplace. In short, apinity combines...
Moody’s Investor Service recently published a report on alternative capital stating “With reinsurance pricing continuing to move up, alternative capital capacity is poised to break out above the USD100 billion level and resume its growth trend as higher pricing is likely to attract additional capital inflows from institutional investors.” Over the past 15 years, alternative reinsurance capital – capital from...
A highly complex risk environment caused by influences within and outside of the sector, coupled with the evolving dynamics of a hardening market, are generating significant volatility within the reinsurance sector, yet there is much to inspire confidence amongst (re)insurers. This was the consensus among panelists at a recent virtual...
Adding to claims inflation and a worsening macroeconomic environment, Fitch Ratings expects French non-life insurer to face losses from natural catastrophes, which will further put more pressure on profitability. The ratings agency expects the sector’s financial performance to deteriorate noticeably in 2022 and 2023. Losses due to frost, storms, drought...
The European Insurance and Occupational Pension Authority (EIOPA) has published the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA). The publication follows a public consultation on the topic as well as a pilot exercise in...
Allianz Direct has tied up with Check24 to allow consumers in Germany and to access Allianz Direct products on Check24‘s comparison portals. The first joint product launch will be in motor insurance in Germany: Following a pilot phase in August, Allianz Direct will be fully integrated with car insurance on...
Aon plc (Aon) a leading global professional services firm, has announced a collaboration with Jupiter, a leading provider of predictive data and analytics for climate risk management and resilience, that will assist global financial institutions in navigating the increasing volatility resulting from climate change. Financial institutions in many jurisdictions are...
Data released by Chubb and the National Center for the Middle Market (NCMM), housed at The Ohio State University Max M. Fisher College of Business, shows that middle market firms are continuing to report sustained growth despite ongoing macroeconomic pressures. According to Chubb and NCMM’s 2022 Mid-Year Middle Market Indicator,...
Swiss Re announces the launch of its new investment advisory company and wholly owned subsidiary Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), a SEC registered investment adviser. The company offers investment management services to qualified institutional investors, with a particular focus on catastrophe bonds. SRILIAC’s investment strategy focuses on insurance-linked...
