Hurricanes
AIG's Steve Agutter on combining robotic insight and human touch
Claims adjusters need to embrace automation but it's their human touch that will win - or lose - customers, explains Steve Agutter, head of claims at AIG International.
RSA UK commercial book sees COR deteriorate to 108%
RSA UK saw its combined operating ratio for commercial operations deteriorate to 108.1% over the course of 2017.
Allianz P&C profits sink following ‘costliest year ever’
Allianz saw claims of €1.1bn (£970m) from natural catastrophes last year, as the company described it as “the costliest year ever for the insurance industry”.
TMK syndicates forecast 2017 loss
Tokio Marine Kiln expects its Lloyd’s syndicates to post a loss for the 2017 year of accounts as a result of fourth quarter catastrophe losses.
Nat cats push Lancashire into loss at full year
Lloyd’s insurer Lancashire reported a net loss of $71.1m (£50.5m) for 2017 as fourth quarter natural catastrophes took their toll on its bottom line.
Axis reports GWP boost despite underwriting loss
Axis Capital's insurance segment saw fourth quarter gross written premiums increase 47%, bolstered by the group’s acquisition of London market carrier Novae.
‘Tidal wave’ of alternative capital to disrupt reinsurance market: Aon CEO
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
This week in Post: Results, rumour and regulation
This week the results season well and truly got underway with big names in the UK’s insurance sector reporting back to market on how they fared over 2017.
Hurricanes put Zurich's P&C segment in the red
Nat cats pushed Zurich’s property & casualty segment into the red last year, as hurricanes Harvey Irma and Maria saw the insurer report a 100.9% combined operating ratio for P&C.
Nat cats hammer Munich Re's full year results
Natural catastrophe losses saw Munich Re’s property-casualty reinsurance segment report a €476m (£422.7m) loss for 2017.
Executives admit they were unprepared for 2017 nat cats
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Fresh capital to make reinsurance rate rise short-lived
New capital entering the reinsurance sector will wash away any relief gained from rate rises at January renewals, Aon Benfield has said.
Cat bond issuance reaches $10.5bn in 2017
Catastrophe bond activity set a new record last year with full-year 2017 cat bond issuance totalling $10.5bn (£7.75bn), according to Property Claim Services.
Insured cat losses hit record $135bn in 2017, says Munich Re
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
Aviva's Maurice Tulloch on the race to sustainability
Maurice Tulloch, CEO of international insurance at Aviva, explains why and how the industry should encourage a global race to sustainability.
Global insured losses pegged at $136bn for 2017
Total global insured losses in 2017 are expected to reach $136bn (£101.3bn), the third highest on record.
Lloyd’s insurers add £3bn in capital following storms
Lloyd’s carriers have added £3bn in capital in the wake of natural disasters in 2017.
Analysis: Macau's deadly storm
Powerful Typhoon Hato cost insurers in Macau nearly $400m (£298m), almost one and a half times the annual gross premium for the small market. Nicky Burridge takes a closer look.
Lloyd’s pays $1.7bn for Harvey, Irma and Maria
The Lloyd’s market has paid claims worth $1.7bn in response to windstorms Harvey, Irma and Maria.
Analysis: Review of the year 2017
The past year has been a stormy one for the insurance market – and not just in terms of weather: the discount rate saga and the insurance premium tax hike helped propel motor premiums to stratospheric highs. Industry figures see clearer skies, however,…
Q3 nat cats accelerated plans for Ascot Re, says Brooks
Recent natural catastrophe activity across the Atlantic has sped up Ascot’s expansion plans, the group's CEO told Post.
Ophelia to cost industry €60m, says Perils
Catastrophe loss analysts Perils has pegged the market loss for Ex-Hurricane Ophelia which battered the coast of Ireland, at €60m.
H2 nat cats set to push up P&C pricing, says Swiss Re
Prices in non-life insurance and reinsurance are expected to increase as a result of the recent nat cat activity across the Atlantic, Swiss Re has said.