News
- Inflation a key starting point at 1/1 amid elevated risk environment: Aon panelby Luke Gallin on 23/09/2022
With the important January 1st, 2023, reinsurance renewals fast approaching, executives from some of the world’s largest reinsurers have highlighted inflation as a key starting point, and stressed the need to get paid for the elevated risk environment. Earlier today, Andy Marcell, Chief Executive […]
- Marsh’s US clients now able to pay fees using carbon credits & renewable energy certificatesby Jack Willard on 23/09/2022
Leading insurance broker, Marsh has announced that US clients now have the option to pay their Marsh service fees in voluntary carbon offset credits and renewable energy certificates (RECs). The move, which is believed to be a first-of-its-kind in the financial services industry, is part of […]
- Floridian insurers see underwriting improve in Q2 2022: Gallagher Reby Kane Wells on 23/09/2022
According to reinsurance broker Gallagher Re’s Q2 Florida Market Watch Report, the combined ratio of the industry improved by 13.1% year-over-year to 109%. At the same time, loss & LAE reserve ratios at an industry level fell by 7.3% to 73.1% in Q2, as the expense ratio declined from 41.7% in […]
- Markel International boosts wholesale claims leadership teamby Jack Willard on 23/09/2022
Markel International, a subsidiary of Markel Corporation has announced three senior promotions within its wholesale claims operation. Under the new leadership team, Jonathan Pestell will assume the role of head of claims performance for speciality. Within this role he will focus on driving broker […]
- Global marine insurance premiums rose by 6.4% between 2020 and 2021by Pete Carvill on 23/09/2022
A new report from the International Union of Marine Insurance (IUMI) says that global marine insurance premiums rose 6.4% last year to reach $33bn. The Global Marine Insurance Report says that this increase happened because of a combination of increased global trade volumes, a stronger US dollar, […]
- Aon announces partnership with Revalue Natureby Kassandra Jimenez-Sanchez on 23/09/2022
Collaboration between re/insurance broker Aon and Revalue Nature, a next-generation developer of nature-based solutions, will scale the development of high-integrity, nature-based carbon credits to meet growing demand, the broker stated in a recent announcement. This partnership aims to encourage […]
- Citizens’ President warns of market instability & reinsurance relianceby Matt Sheehan on 23/09/2022
Citizens Property Insurance Corporation’s President, Barry Gilway, has commented on the long-term instability he sees in the Florida market and its consequences both for Citizens and the wider reliance on reinsurance capacity. In a September report on Citizens’ performance and market share, […]
- Suncorp’s reinsurance and high nat cat budget holding company in good steadby Pete Carvill on 23/09/2022
The group CEO of Suncorp in his speech at the firm’s annual general meeting (AGM) has said that Australian financial giant’s reinsurance and higher nat budget is helping the company remain in good stead. Steve Johnston gave his remarks in Brisbane earlier this week in the firm’s […]