All Hurricane Ian articles
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News2022 fourth-costliest year on record for cat losses – S&P
A new report on catastrophe risk appetite among global reinsurers has found last year to be the fourth-costliest on record for annual global insured catastrophe losses.
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NewsLloyd’s reveals 2022 loss after paying out £21 billion in claims
With prices increasing by 8%, the Lloyd’s market has now seen 20 consecutive quarters of positive price improvement
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NewsHardest renewal market in years as industry approaches 1 April
A shortage of capacity in property catastrophe markets has resulted in the hardest market since 9/11
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NewsHurricane Ian drives 2022 nat cat claims to breach $100 billion
Losses paint a picture of growing property exposure and exceptional inflation, says sigma
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NewsHannover Re grows 2022 net income to €1.4 billion
Major losses were offset by investment contributions and a strong performance within life and health reinsurance
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NewsSCOR reports net loss of €301m in 2022
The combined ratio for the P&C unit stands at 113.2% as Kessler acknowledges it was a “disappointing” year
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NewsMunich Re exceeds 2022 profit guidance
Reinsurer targets €4 billion profit in 2023 as chairman Wenning praises firm’s resilience after €1.6 billion Ian hit
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NewsSwiss Re posts 2022 net income of $472m after tumultuous year
Large nat cat claims reached $2.7 billion as the P&C Re combined ratio rose to 102.4% for the full year
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NewsWill this ‘circuit breaker’ market win back capital?
The perfect storm of 2022 has nourished the green shoots of investor optimism in 2023
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NewsCat bond outlook bullish as hard market continues
ILS instruments have a “greater role to play” as reinsurers restrict catastrophe coverage
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NewsHannover Re sees property cat rate hikes of 30%
Prices and conditions ’not seen in decades’ was present at 1 January, as reinsurer looks to mid year
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NewsHannover Re expects 2022 net income of €1.4 billion
The reinsurer has increased its net major-loss budget for 2023 to €1.725 billion
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NewsHesitant capital remains sidelined despite rating improvements - AM best
High levels of nat cat losses, coupled with rising inflation and geopolitical concerns, is denting appetite for property cat
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News“Fingerprints of climate change” evident in 2022 nat cats
2022 is the fifth year since 2017 in which insurance losses have crossed the $100 billion threshold - Gallagher Re
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NewsSCOR names Thierry Léger CEO as Laurent Rousseau resigns
Léger was most recently the chief underwriting officer of Swiss Re and is tasked with practising ‘strict risk management’
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NewsGlobal nat cat losses surpassed $313 billion in 2022 - Aon
$132 billion was covered by insurance, revealing a 58% ‘protection gap’; Hurricane Ian was the most costly event of the year
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NewsSwiss Re’s three renewals takeaways
Capacity conundrums, late negotiations, rate increases and tighter wordings all came into play at 1 January
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News1/1 renewals put ‘stress’ on long-term relationships
There was an evident mismatch in demand and supply for property reinsurance as global capital fell by 17 percent - Aon
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NewsReinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
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News2022 nat cats set new records with $120 billion in claims
Hurricane Ian accounted for half of insured losses, making it the second most costly storm in history - Munich Re