Why reinsurers should look to recent Covid-related judgments on the direct side in an effort to resolve uncertainty
A lack of visibility around aggregation arbitration is preventing reinsurers from dealing with COVID-related BI claims
At below $10 billion, why has the cyber re/insurance market failed to live up to its potential?
The choices governments make in response to the Ukraine conflict might either accelerate or delay the global transition to net-zero emissions
HomeServe is showing the difficult US market can be cracked. Other large UK insurance firms have struggled to make an impact though. Why is this?
Insurance Times’ Tech and Innovation Awards showcased the great variety of digital solutions supporting the insurance sector
Conversations at BrokerFest 2021 indicated that MGAs have the edge on insurers when it comes to innovation
The Covid-19 pandemic has shone a - sometimes uncomfortable – spotlight on the insurance industry.
MGAs shine in survey, but brokers do have concerns
Industry commentators still have questions around the safety of technology such as ALKS, however the UK government is eager to have automated driving on Britain’s roads this year
New Lloyd’s report calls for innovation around insurance for geopolitical risks as it identifies 10 ‘paradigm shift’ factors that could affect whether current cover is still fit for purpose
Private equity is seen by some as predators of the pandemic, buying UK firms cheaply. Is it time for reform?
London market brokers query hybrid working models, while syndicates ponder whether Lloyd’s blueprint investment will pay off
Covid-19, Solvency II and ESG factors will all be influencing global multiline insurers’ balance sheets, says S&P Global Ratings
The first deadline surrounding the FCA’s general insurance pricing reform is approaching fast - insurers and brokers must consider the implications on SME products if they haven’t done so already
Aon still has its work cut out for it if it wants to complete its purchase of Willis Towers Watson and mitigate market competition worries – however, will competition concerns increase across the piece as a result of the recent consolidation uptick?
MP Iain Duncan Smith leads the charge on radical post-Brexit insurance plans
The FCA may have ‘unleashed the concept’ around fair value, but now firms have to interpret this and embed it within their business practices, which isn’t an overnight job
A new report by the Public Accounts Committee recognises that festivals are facing a ‘survival threat’ without adequate insurance for Covid-linked event cancellation
An activist investor is stepping up pressure. But does it have anything new to offer?
Gefion’s bankruptcy repeats the familiar tale of unrated insurers
Aviva has had a hat-trick of senior exits. What is going on?
RSA came bottom across all of Insurance Times’s broker service surveys. Where does it go from here?
Joe Henderson’s new broker is a direct rival to Aon - and there are consequences
How can businesses balance the bottom line with environmental responsibility when planning their post pandemic business travel?
Brokers are losing faith in the FCA amid rising fees and levies against a backdrop of carrier failures
Insurers’ 2020 full-year financial results show an economic landscape strewn with losses and colossal Covid claims costs. This will undoubtedly carry over into 2021 in some capacity, wrecking further trouble on balance sheets
RSA’s new owner Intact will need to woo brokers
Insurance Times Five Star Rating Report: Commercial Lines is about to be released. This broker survey of insurer service will show some players are performing poorly
Insurance needs to play a bigger role in responding to risk flexibly moving forward
Marsh, Aon, Willis appear to pay high multiples for their acquistions targets in the UK. But what is really going on?
Chris Kenning, chief executive of Stubben Edge, on how to avoid getting locked into legacy systems that prevent an insurance business from meeting the demands of the modern market
Discussions around greater transparency in policy wordings and clarifying coverage have become a top priority following the FCA’s business interruption test case – is this a ‘better late than never’ scenario or has the hit to the sector’s reputation crippled any chance of forging customer trust?
Bitcoin has enjoyed huge returns, making many rich. But can insurance help in this daring new world of cyrptocurrencies
An Insurance Times expert webinar panel discussed how brokers can future proof their businesses post-pandemic
ComparetheMarket’s abuse of power is remarkable. Distribution’s grip on insurers continues to grow. Can it be stopped?
Competition watchdog’s report into ComparetheMarket offers a damning verdict on a company abusing its power
The insurer boss adds that the industry’s reputational damage arising from the business interruption test case has left her feeling ‘very sad’ and that the industry needs to ‘not shoot ourselves in the foot as much as we do’
RSA’s historic brand name is likely to disappear, but takeover deal makes sense
Amazon’s investment in Indian insurtech Acko has raised questions on how deep the tech giant plans to get into insurance
Commercial brokers told Insurance Times that a quality claims service is more important than competitive pricing, aligning with the FCA’s refreshed stance around fair value
UAE drivers may know everything about their cars and car brands, but when it comes to motor insurance, the ride turns a lot less smooth.
The impact of the nationwide lockdown earlier in the year is expected to help the UK motor market return to profit once again in 2021, but with underlying problems still dogging the market, this is only anticipated to offer temporary respite for motor insurers By insight editor Matt Scott
Aggregators are likely to take a revenue hit from FCA reforms. Here are five ways they could react and its impact on insurers and brokers.
Covid-19 has hit the insurance industry just as hard as the 2008 global financial crisis. But with the global economy hit even harder this time around, insurers are setting themselves up for a quicker return to growth than many may anticipate By insight editor Matt Scott
Tensions between insurers and aggregators will likely increase amid the FCA pricing crackdown
Commercial insurers may be affected as business owners could have a reduced budget for insurance if they are struggling for custom amid coronavirus recession
Consumers are craving simple products in the wake of the Covid-19 pandemic, but at the same time they want products that are adjustable and tailored to their needs. This means insurers need to find the right balance when designing their products, but that is easier said than done By insight ...
ESG pledges, unmet, will leave stakeholders disappointed and pose the greatest enterprise risks of all, warn Nir Kossovsky and Denise Williamee
COVID-19 has created a new urgency to protect working people, with compulsory unemployment insurance a much-needed safety net - research
The FCA is intently focused on value. It’s agenda will lead to a fresh look at commercial insurance
The outbreak of COVID-19 has created a new urgency to address issues affecting working people worldwide, including the digitalisation of the economy, the need for continuous education, and the fragility of many national social protection systems.
The FCA’s plans to crackdown on premium finance are causing serious concens for brokers
Insurers have supported the High Court process over the past few months, which saw the claimant – the FCA - seek clarity for customers who have made business interruption claims related to Covid-19. The verdict was published yesterday.
“Pricing in the liability insurance market may have turned in recent months, however social inflation trends and large court verdicts continue in the United States. This combined with expanded exposures for non-US companies doing business in the US and an increase in automotive part recalls are putting pressure on liability ...
Global corporate insolvencies are forecast to increase by 26% in 2020, led by Portugal, the Netherlands, Spain and UK in Europe.
The Covid-19 pandemic has created some big challenges for the insurance market, not least for those involved in the business interruption and event cancellation markets.
Fitch Ratings believes the prompt response by most insurance regulators across the APAC region will help insurers weather some of their key business risks during the coronavirus crisis. Some insurers’ capitalisation, earnings and liquidity positions could come under pressure from the financial-market disruption and economic strain caused by the pandemic.
Insurance cover is a great enabler of economic activity, allowing businesses to carry out their trade, innovate and drive growth. Without that protection provided by policies, the risks for many would simply be too great.
Covid-19 is expected to hit global financial resilience hard, with research from Swiss Re forecasting a 20% drop in global resilience as a result of the pandemic as stimulus packages deplete economies’ fiscal and monetary headroom.
The COVID-19 pandemic’s economic and social impacts are driving significant shifts in global political risk - Marsh JLT Specialty
As the Covid-19 pandemic incessantly continues to rumble on, insurers and brokers have been forced to acknowledge the financial fallout caused by the virus as half year results published last month paint a vivid picture of how Covid-19 has affected profits, losses and reserving measures.
The data collection exercise further revealed that the types of scams that have been popular during the Covid-19 pandemic are typically communicated using emails, phone calls, text messages, letters and social media.
The ambiguity in business interruption (BI) policy wordings related to Covid-19-based claims is “natural”, however this debate should be used as a catalyst for the insurance sector to proactively review contract small print in order to eliminate unclear phrasings that may prove problematic for insurers if applied to future “black ...
Insurance policies will need to change in order to reflect the fluctuating risk environment created by the Covid-19 pandemic, while new products centred around remote working, for example, will become more common, according to data and analytics firm GlobalData.
Although many organisations had a form of business interruption insurance within their commercial cover prior to the Covid-19 pandemic, FloodFlash co-founder Adam Rimmer tells Insurance Times how a parametric insurance model would have been the better option for this type of insurance, as ’there’s no small print for the insurer ...
After a multi-year global consultation process, leading insurers from around the world and the UN Environment Programme (UNEP) launched last the first global insurance industry guide to tackle a wide range of sustainability risks—from climate change, ecosystem degradation, pollution and animal welfare and testing; to child labour, controversial weapons, and ...
Law firm Plexus Law advises brokers to ‘pay attention in this changing market’
Protecting brand reputation has become a top priority for insurance businesses
Industry voices fear that consolidation between two of the UK’s largest brokers will lead to a ‘stagnating’ market and ‘significant change’ of the sector as we know it
Data protection legislation in California and New York adds to existing cyber risk rules
Chief economist briefing emphased the ‘R’ word(s): trade war is risk number one; recession in the US 35% likely; and resilience in the global economy is worse than before the financial crisis
Safer skies have not reduced the overall risks being taken by aviation insurers
Defining the pro-democracy protests as terrorism could impact insurance policies, as the cost of the demonstrations continues to rise
Asia’s life and health (L&H) reinsurance market is changing, with fresh entrants and a change of products being sold on the primary side, according to Pierre Vende, Head of Accident, Health and Life, Aon Reinsurance Solutions.
German reinsurer E+S Rück said its home market should see improved rates and conditions next year
UK-domiciled reinsurers have responded to Brexit by establishing alternative platforms on the continent that will retain passporting rights irrespective of the eventual Brexit outcome. Clare Ruel reports
Same earthquake hitting the Northeast Bay today could create a $27bn insured loss and a $184bn economic loss in the heart of Silicon Valley, according to an RMS catastrophe modelling study
New requirements to enhance insurers’ approaches to managing the financial risks from climate change came into effect on 15 October from the UK’s Prudential Regulation Authority
Lloyd’s has released the 150-page “Blueprint One” for the London re/insurance market’s future transformation
Swiss Re’s Beat Strebel was among panellists discussing microinsurance at FAIR 2019 in Marrakech
Regional reinsurers in trouble means less local capacity available, helping to firm up reinsurance pricing in African and Middle Eastern markets
FAIR president Yassir Albaharna talks to GR ahead of this year’s conference in Marrakesh
Aon offers its broker’s-eye-view on CEO John Neal’s bold new plans for the future at Lloyd’s, ahead of 30 September’s blueprint publication
Fitch Ratings has released its Global Reinsurance Guide 2020.
Hurricane Dorian provides this year’s pre-Monte Carlo jitters as re/insurance execs pack their bags for 2019’s Rendez-Vous de Septembre
Africa’s re/insurance market is fearful at lost business going straight to China, amid the optimism about infrastructure projects, technology and economic growth closing the continent’s protection gap. David Benyon reports
A paper from re/insurance broker Capsicum Re explores attribution in cyber warfare
Increasingly antiquated rules and a lack of innovation have lost Bahrain its early mover advantage in Middle East re/insurance, according to a report published this week by ratings firm AM Best
Startup insurtechs are favouring the MGA model for a gateway into the industry to avoid becoming just another service provider to traditional insurance companies. David Benyon reports
When RenaissanceRe paid 1.02x tangible book value for Tokio Millennium, it seemed it might be due to poor performance at TMR, but the reinsurer’s final set of results might change that perception
Attacks blamed on Iran off the coast of the UAE earlier this month left holes in the hulls of four oil tankers
Maritime sector and insurance technology experts converged on Windward’s inaugural Sea: The Future 2019 conference
Reinsurers’ capital was at a low point at the end of 2018, largely due to returns to shareholders and unrealised losses held on the investment side. Expect those numbers to bounce back for Q1
The City’s supervisor will include physical and transition risk scenarios for climate change in its market-wide insurance stress tests this year, a Bank of England speech has revealed
Low penetration but high potential in India’s re/insurance market should favour insurance technology, speakers said at an India-UK event in London
The Takaful and Re/Takaful sector has an image problem and general lack of awareness about what it can do, according to speakers at DWIC 2019
The insurance sector has a lot to do if it wants to close the protection gap in Middle East markets, according to James Vickers, chairman of Willis Re International
Mondelez vs Zurich comes as the nascent cyber insurance market continues to develop with increased demand for cyber policies.
Fresh thinking and converging insurance technologies are adding up to a revolution in the re/insurance sector, exemplified by GR’s Innovation & Insurtech 2018 event in Bermuda
John Racher reports back from the GR Innovation & Insurtech event in Bermuda where attendees explored the challenges and opportunities of new technology and discussed their vision of the future and its changing lexicon.
Insurtech has moved from a peripheral re/insurance topic to the centre stage, GR consulting editor David Benyon writes
Read the Q4 edition of GR, including features on wildfire, pandemic risk to mark the 100 year anniversary of Spanish influenza, and a roundup of coverage from Monte, Baden and SIRC.
The potential for devastating pandemics is still there, with major accumulation risks for insurers and reinsurers increasingly relevant for non-life lines of business. By David Benyon
When RenaissanceRe announced it was acquiring Tokio Millennium Re for $1.5bn it was just the latest in a series of deals that have been reshaping the reinsurance sector over the past couple of years
Wildfires will cost excess and surplus lines insurers, reinsurers and ILS investors, after the Camp Fire goes down as the worst wildfire in Californian history
Roger Bickmore hosted a GR roundtable discussion at SIRC 2018 on the links between Asian reinsurance and MENA business
Steve Hearn, CEO of Ed, spoke to GR about Chinese investment, broker consolidation, and growth prospects in Asia
Following discussions in Monte Carlo, Willis Re expects rate flexibility from European reinsurers for the Continent’s catastrophe risks, while demand for earnings covers at lower attachment points provides reinsurers with some pricing opportunities
Margins remain low, but Swiss Re’s Russell Higginbotham thinks the mood is positive and expects a stable renewal at 1/1
TigerRisk’s head of EMEA lists attributes of outperforming companies. By Marc Beckers, in association with TigerRisk
Confidence in a gradual, if uneven, rise in global interest rates may be starting to take hold, according to a report from Moody’s Investors Service
While alternative capital continues to grow, JLT Re’s global analytics head thinks that some previous predictions of it taking 40% or more the catastrophe risk market by now were overblown
London and Lloyd’s, followed by Dubai, Zurich and Bermuda have shown the greatest innovation over the past 12 months, according to 50 senior reinsurance leaders surveyed by GR, in association with Dubai International Financial Centre
Terrorism reinsurance backstops Pool Re and TRIA were set up within different contexts and the two structures have evolved differently. David Benyon reports
As ILS funds continue to demonstrate an interest to get closer to the risk, questions around whether this capital is here to stay cease to be relevant
The regulator’s penalties for data breaches are stiff, but a bigger problem could be an avalanche of claims from clients for data mis-handling
One of the industry’s biggest advocates for digital changes talks about preparing for the tech revolution
With the first panel of DWIC18 day two focussing on the DIFC’s Fintech Hive, we take a look at what has been achieved
Markel International Singapore principal officer and managing director Matt Cannock takes a look back at a tumultuous year
With losses and market pressures, 2018 could be a year of bumper-ticket Bermuda M&A
The region offers plenty of opportunities, but (re)insurers need to do their research to ensure they acquire the keys to success
India’s premier has revolutionised the countries financial sector and welcomed internationals - here’s how
What was a buyers’ market is changing, with renewal rates set to move upwards. Global Reinsurance editor Samera Owusu Tutu looks at how the industry is preparing
A closer look at a growing opportunity for the industry by Aon Benfield Analytics managing director Craig Kiebler and global chief operating officer Tracy Hatlestad
GDPR expert Darren Wray puts the incident under the microscope and outlines lessons learned from the fallout
How artificial intelligence can help commercial and marine insurers make more intelligent decisions around risk by Andrew Yeoman, chief execuitve of Concirrus
Years of under-pricing could be over after the 2017 Atlantic hurricane season, says McGavick
The final panel for the Global Reinsurance Innovation & InsurTech Bermuda event was in the hands of the delegates
Delegates at the inaugural Global Reinsurance Innovation & InsurTech Bermuda were told lack relationship with end user was industry’s achilles heel
Gibraltar regulator chief executive says she is tough but fair
Heavyweight panel says knowledge of incumbent operations a necessity for modern practices
Mazar financial services tax partner Stephen Brown outlines how current political pressures may lead to heavier taxation for the industry
No silver bullet for adapting to technology trends, Beale warned, but denial is not the answer
Many companies have developed new risk mitigation strategies in response, study finds
London Market described as ‘last bastion of white male dominance’
Regional hubs are challenging London’s traditional place at the centre of the reinsurance universe
While comparisons to Hurricane Andrew were made, JLT Re executives believe the industry will react better this time
With its growing economy, huge agricultural sector and welcoming government, the worlds second-most populous country offers tremendous opportunities to reinsurers
Stung by a change to the personal injury discount rate, UK insurers warn consumers will soon have to shoulder the costs
Trump budget would cut crop insurance subsidies and could cap participation, according to Best’s News Service
Speaking at the Marsh & McLennan Companies Young Professionals’ Global Forum 2017, Chubb chairman and chief executive Evan Greenberg explains why the need to digitise is paramount
A review of the US flood insurance programme will create opportunities for reinsurers
New EU data protection regulation will apply in less than a year, but many companies are not yet ready
A closer look at the rise of ransomware, we ask what is it, how do we tackle it and what does this global attack mean for our industry
Radiological ‘dirty bomb’ by terrorist groups could cause extensive property claims
How his grandfather felt as the world changed around him draws parallels to the dissonance felt in the industry today due to the Fourth Industrial Revolution, says Xceedance region head - EMEA Justin Davies
How is Solvency II impacting the choices of the reinsurance company asset managers?
The affects of removing transatlantic collateral requirements
(Re)insurers need to upskill to earn potential premiums
Chubb’s regional president shares report card on industry in DWIC regional keynote
Rise of new economies and technology are key factors shaping the insurance industry
Bermuda can weather the tide of political uncertainty that the last six months has thrown up, says Chris Garrod, partner in the Bermuda office of law firm Conyers Dill and Pearman
eReinsure chief executive Igor Best-Devereux talks about turning a buzzword into a reality
In this blog, former Standard Life managing director for marketing & customers Stephen Ingledew speaks about need for better client engagement in (re)insurance
What impact would an event like this have on our world today? Tim Evershed investigates
We take a close look at the gaps in coverage in mature markets and explore how public private partnership can fill them
With 2017 renewals looming, we take stock and assess the year behind us, and in this review we present the predictions for the year ahead
Ed’s group chief innovation officer tells how he’ll turn the technology buzz into productive reality
An expert view from Salmaan Jaffery, Chief Business Development Officer, DIFC Authority
An expert view from Salmaan Jaffery, Chief Business Development Officer, DIFC Authority
An expert view from Salmaan Jaffery, Chief Business Development Officer, DIFC Authority
An expert view from Eddie McLaughlin, chief commercial officer, Aon Global Risk Consulting
An expert view from Wayne Jones, partner Clyde & Co
This year’s Global Reinsurance Monte Carlo roundtable took a deep dive into some of the key innovations disrupting the (re)insurance industry
Xceedance EMEA head Justin Davies talks about the realities of a perpetually tough market
Chris O’Kane, group chief executive of Aspen and board director of Blue Marble Microsinsurance (Blue Marble), highlights the importance of innovation and customer satisfaction - attributes that have sometimes proved elusive to the insurance industry.
Bermuda Stock Exchange Chief Executive Greg wojciechowski believes that as ILS becomes more broadly accepted as an investable asset class, this will help to drive more capital to areas in the world where insurance is most needed
For the (re)insurance industry, autonomous vehicles present interesting challenges and opportunities both in the short and medium term
JBA writes about modelling flood risk in emerging markets
The London Market is looking to nurture innovation to sustain its position as a global leader. NIIT Insurance Technologies asks what is innovation, and what innovation approaches might help?
Mayer Brown partner Colin Scagell likens the task to unscrambling an egg – here’s why
Cultural change and young talent, some of the topics that arose when Global Reinsurance spoke to the market
A fast-growing economy, a young population and the governments ambitious expansion plans, some of the ingredients for success
Global Reinsurance speaks with the credit rating agency’s lead insurance analyst Linas Grigaliunas
Whether a paradise lost or a land of opportunity, it’s a new world, a new day, and a road to the unknown, writes Global Reinsurance Editor
An overview of how the insurance industry is tackling the modern energy market
The evolution of the Insurance-Linked Securities (ILS) sector, combined with excess liquidity globally, has led the asset class to an interesting crossroads, Elementum Advisors LLC founding principal John DeCaro explains.
The biggest data leak to date should be seen as a warning sign for the industry of the challenges and opportunities of cybersecurity
Is Change in the London Market Radical Enough? Stripe Global Services director Steve Street gives his views
The answer may very well depend upon whom you ask. If you are a cyber policyholder or their insurer, then the answer may well be yes, it does matter. If you are an individual whose personal data has been lost, stolen or even just revealed then you may not care ...
Axco head of global risk intelligence and data Alexander Frost compares the Middle East heavyweights and casts a light on how their political tension may impact their insurance markets
Mexico takes a similar path to Europe with regarding solvency, and ultimately faces similar challenges
Winning entry rose to the occasion to take that title this landmark Multaqa
After the terror attacks in Paris, and with a increase in weather-related events, does the way risk is tackled need to evolve in line with today’s threats?
Silverfinch senior vice president of business development Ashley Smith believes there’s more to come with S2
Xuber Xposure director Justin Davies outlines the top five types of insurable non-physical damage
While common practice in other parts of the world, this is a new trend for the UK Alex Denslow and Neil Beighton, both of CMS, discuss the arising challenges
Global incidents like the Tianjin explosion in China can leave loss adjusters in a cultural and political bind. Cunningham Lindsey director of major and complex loss Ben Price unpicks the challenges behind managing major losses
Proposed regulatory referencing rules would take a bite out of the ‘rolling bad apple’, Brahams Dutt Badrick French senior employment lawyer Nick Wilcox explains
Aspen head of group catastrophe risk managment Alan Calder talks about the uncertainties caused when data is limited and warns against the simplicity of merely viewing the world as emerging and developed markets
Verisk Maplecroft’s Anthony Skinner explores how both Saudi-Iranian relations and Daesh are adding to the volatility of the region
With low rates and an abundance of capacity, reinsurers knew they would inevitably feel the squeeze - but how did the industry respond?
Crasner Capital vice president Andrew Young outlines the importance of the insurance industry in Ghana and the lessons Nigeria has to offer
Financial results, senior redundancies and a militant billionaire investor
Predictions for the insurance industry from Xuber’s head of business development
Swiss Re, Geico and USAA investigate new technology
A closer look at the differing approaches to the lifting of Iran’s sanctions by the EU and US
Global Reinsurance runs the numbers in the year of the megamerger
Insurers adapt to fourteen quakes in five years
Two proxy firms say proposed terms not enough
London market broadens expertise in global relevance battle
Loss-making insurer faces battle to convince Wall Street as billionaire investor plots AIG slice up
Government and regulatory changes transforming the country
Insurer to look at cost base, says chief executive
Hancock hits back at billionaire investor’s original attack
Premier addresses market on the role of (re)insurance
As urbanisation increases in emerging markets, how will this affect (re)jnsurers?
The Munich Re board member says emerging Asia is fastest growing market
Read features on infrastructure in Asia, Japanese M&A, the rise of captives, and consolidation in the region in our SIRC special
But overseas territories threaten London’s position
Why the market needs a frank debate about broking practices
Take part in our anonymous sentiment survey
RSA faces uncertainty after being left high and dry when Zurich dropped its takeover bid. But questions have also been raised over Zurich’s internal issues cited as behind the change of heart
The GR FIDES Special includes analysis on D&O in Brazil; industry insight into recruitment and retention in Latin America; and a focus on Venezuela
Russell Group managing director Suki Basi gives take on the impact of the Asia infrastructure boom
Class actions and whistleblowing demand attention
European judges handed down two landmark rulings last week, changing not only where and how EU citizens’ personal information is handled but also perhaps the internet forever.
As an asset class that depends on the weather rather than the financial markets, ILS could provide an effective shelter from today’s market uncertainties
Insurance and related solutions can help, says reinsurer
Companies and individuals rewarded at inaugural ceremony
Orlando airs views at MEA Risk & Insurance Forum
MEA Risk and Insurance Forum in Dubai discusses hot topics
Clarke speaks at MEA Risk and Insurance Forum in Dubai
GR & StrategicRISK, in association with ACE, review the latest developments in (re)insurance and risk management across North Africa
Pool Re’s head of research and external affairs explores international collaboration as a solution to the increasingly global threat of terrorism
Should the industry do more to solve clients’ needs?
FM Global operations claims manager sifts through incoming law
The volume of contingent capital securities (also known as CoCos) issued by insurers globally is set to increase
Mike Duffy on consolidation, scale and the future
As January 1 2016 creeps closer, now is the time to ensure you are prepared
Chief executive likens overcapacity to meteor that killed the dinosaurs
Moczarski says firms need new approaches to tackle the new risk landscape
John Nelson on mergers and global insurance hubs
Cyber risk model to fill gap in the market
But rate pressure and personal lines concerns act as anchors
Start-ups moving away from traditional business models
Increased regulation rarely goes down well with the business community, but a chorus of voices from the London market recently has demonstrated just how strongly insurers are opposed to the rising cost of regulation, writes Mayer Brown partner Colin Scagell.
Hogan Lovells lawyer on challenges of the new technology
Brokers note more cyber interest after high-profile data breach
Latest article on Monte hot topics covers the future of the M&A trend
Motor claims, fewer weather losses and commercial competition all played a role in shaping the latest reporting period
Tighter policy wordings will be needed amid new regulations and increasing drone use
While a solution to Greece’s sovereign debt travails has dominated financial media, specialist insurance investment manager Twelve Capital believes this is largely a non-relevant solvency issue for European insurers and their investors. Twelve Capital managing partner and head of sourcing John Butler explains
Read the first in our series of preview articles on Monte Carlo Rendez-Vous hot topics
Aspen boss on the future and Tolstoy’s relevance to (re)insurance M&A
Debt restructuring and reporting software making inroads
Takaful is a market that for some time has been recognised as a sleeping giant. In London it is in the process of waking up, writes Martin Mankabady, corporate insurance partner at Clyde & Co
The head of Egypt’s financial watchdog talks about Egypt’s economic indicators, why sound regulation is the key to attracting investment, and the authority’s plans for the insurance industry
Overall pricing down on all geographies and lines
Insurers set to benefit but need to be vigilant
Ace and Chubb arms put on negative review - but future looks bright
Judging whether Japanese life and non-life insurers are still hungry
PartnerRe chairman says Exor bid “undervalues” the firm
Hearn to replace Toby Esser as chief executive
Atradius report on the future of insurance business in the country
PartnerRe shareholders to vote on merger deal soon
Simon Weaver replaces Matthew Hooker on 1 September
Hiscox Re claims underwriters on the pitfalls facing the industry
What the wave of consolidation needs to account for
Though sanctions exist, Russia’s future bounty should not be ignored
Malcolm Haylock – head of research and development, Aspen Re – analyses the occurrence of hurricanes through application of statistical models. The lack of a major hurricane making US landfall in the last nine years does not change the probability of such an event in 2015 but one can comment ...
Firms can get cheaper premiums by signing up to government scheme
Rea to help Graeme Chilton on acquisitions trail
Claims for last month’s thunderstorms and flooding in Texas and Oklahoma are expected to exceed $1bn, according to Aon Benfield.
German and Italian motor intermediaries change hands
Kading on the future, great challenges and transformation
Mark Cooper and Songlin Chen on ambitions, local knowledge and surprises
Senior insurance executives air views on the best way to protect corporate reputations
The SONAR update outlines the next high-impact risks
But the court ruling is also a warning to liability underwriters
With Gallagher and Towergate inactive, smaller players are set to move into the mid-market
These recent events may make this country less appealing to local reinsurers than meets the eye
In an era when ’big is beautiful’ in reinsurance terms, one of MENA’s home-grown (re)insurers is opting for a more considered approach as it quietly solidifies its empire
Bosses of GIC Re, Willis Re and Qatar Re air their views
Markets finding the balance between available capital and demand
Demand set to increase, yet loss ratios due to rise
Excellence to be rewarded in Dubai on September 27
Assessing the risks and opportunities in the Saudi Arabian insurance market
Cyber risk enters broker’s top 10 global risks for first time
GR talks to avitaion experts to discover how the latest disaster will affect the market
Why the start date of Solvency II is just “the end of the beginning”
Cunningham Lindsey’s Royston Ford on some key changes
Dr. Bassel Hindawi lifts lid on the organisation at GR Dubai market gathering
James Vickers speaks at fourth GR Executive Briefing in Dubai
As the planned deal takes a fresh twist, we sum up the main points
What do the sanction talks mean for the industry, and is Russia next?
In a world where everything is connected, insurers should be prepared
Most firms reported lower underwriting profits after a tougher year, but who came out on top?
Rating changes and increased competition the worst-case scenarios
Marsh, UK government and Lloyd’s on the warpath over cyber cover
Motor insurers also relying on ancillary income to boost performance
Insurers adopting cloud computing face a data sovereignty minefield
How the software is evolving and where it will go next
How cloud computing will affect the future (re)insurance sector
The trends shown by the biggest UK general insurance firms
Six regional (re)insurance executives give answers
Former Benfield boss gives interview on first day in job
Winning entry fought off stiff competition to take home the title
Positive responses from (re)insurance executives
Inga Beale: Lloyd’s is “very privileged” to have new DIFC and Middle East platform
Chief executive Inga Beale on plans to build insurance business in the GCC
H.E. Sheikh Abdullah Bin Saoud Al Thani on opportunities for the market
Facility to cover emerging nuclear energy risks in region
(Re)insurers now using the cloud for more than non-core functions
Globalisation and regulation on the list as spurs to innovation
Market evolution will drive the future of (re)insurance staffing
Hiscox chief underwriting officer Richard Watson interviewed
Postlewhite gives first interview in new role
Ambitious targets could cause unintended consequences
Specialist lines and reinsurance in the spotlight
What is driving the trend and what does that reveal about the market?
Solvency II, protectionism and collateral requirements on the table
Reinsurance heads from Munich Re, Swiss Re, Patria Re and more air views
COMMENT: The (re)insurance industry is changing and recent consolidations are signalling a momentous shift for customers too
Growing awareness of disasters in traditionally safe country
Examining the rise of working with pension schemes
What does the market need to do to stay relevant - and when?
Reinsurer’s regional chief on his plans for Munich Re and the current market challenges
What are the chances of EU regulators playing in tune?
Lawson on collective thinking and answering clients’ questions before they ask them
Your at-a-glance digest of the latest crop of results
Pressures and costs affecting country’s (re)insurance market
What will it take to raise premiums in the notoriously soft market?
Prudential Regulation Authority moots new bank-style regime
Survey finds brokers and insurers are failing to keep pace with changing corporate expectations
Invested assets and cash worth more than $33bn
Guernsey Finance chief executive Dominic Wheatley on captives and ILS
Low interest rates top list for European insurers
World Economic Forum ranks all global risks in new report
Firm calls for quick action by foreign insurers
Reinsurers mull exclusions over controversial new technology
Insurance Europe finds insurers paid out €2.6bn per day
Projects needed to keep London sharp
Alternative capital pressure key feature of 1/1 renewals
Clyde & Co reviews the Act, which is currently going through parliament, and explains how it will change the (re)insurance landscape
Changes to Pool Re come as government/reinsurer co-operation heightens
Flood reforms, cyber awareness, catastrophe claims and the expiry of TRIA have dominated debate
Despite (re)insurance boom, low penetration and cultural issues still equal business challenges
Cyber, ILS and a female boss at Lloyd’s all promise a welcome new era for the hub
Energy and construction opportunities are giving sustenance to this often drought-hit region
From his first job in freezing Canada, Hennessy looks back at his career
Despite concerns about gaps in cover for more frequent extreme weather, reinsurers are optimistic in the run-up to the Solvency II regime
As the leading market for alternative capital, Bermuda has also paid for its success with plummeting rates in the US
Regulation, mergers and wind storms have assured plenty of activity in this crowded marketplace
Study shows that some insurers see big swings in COR if non-risk income is removed
How more computers in vehicles will change underwriting as well as challenge perceptions of liability
Reinsurer Klapton still owes Millburn money
Holman Fenwick Willan’s Carol-Ann Burton on toughening regulations
‘The big risk is deflation in the eurozone’ says Swiss Re’s chief economist
Lloyd’s chief says industry’s 10% share of corporate risks ‘is not good enough’
Reinvestment and credit insurance in the FSB’s spotlight
Systemically important reinsurers react to regulatory uncertainty
Data and technology key to managing new risks
Broker hails watershed moment in twitchy Philippines market
Reinsurers risk millions by adapting slowly: Xuber
Lack of attention costs firms billions
Two-fifths of MGAs surveyed are looking to the M&A market for growth over the next three years
London’s commercial insurance market is still the world’s biggest, but questions remain about its future
Cyber security specialist on the benefits and risks related to data obtained by personal devices
Survey shows system failure and reputational damage are also concerns
Bodily injury claims, motor rates and commercial growth on chief executives’ minds
Around 315,000 new viruses created a day, says KCS Group
Some companies trading below minimum required solvency margin
Sovereign bonds, real estate and loans on the menu
Insurers can bring much-needed nat cat protection, says Nelson
Mark Mitchell tells GR the list of countries that are of strategic interest
GR brought together 10 London-market executives to discuss penetration, awareness, and competition
JBO Advocacia lawyers on the effect of the mooted changes
Focus should be on data quality, says Steimen
Mark Cooper joins from Dubai International Financial Centre Authority
Panel at GR event debate the best strategy for charting risks and opportunities in a rapidly-changing market
Crisis management experts on how to avoid damage when regulators come knocking
GR takes a look at why (re)insurance purchasing strategies in Asia vary from other markets
Maher Afaneh speaks at GR Executive Briefing Live
In the US there has been a mixed response to new opportunities to lower collateral requirements. What are the advantages and disadvantages of such a move?
As China expands PPP agri-insurance schemes for small-holding farmers, large agri-businesses will require more vertically integrated (re)insurance products, says Aspen Re
An increase in insurance M&A is expected in Asia, as Western providers seek rapid expansion
GR, in association with Moore Stephens, looks at how technology is changing the role of the underwriter
Chief executive Artur Niemczewski explains trends in the consultancy and outsourcing markets
Broker tells GR about how the rise of Islamic State will impact terrorism rates and describes the common pitfalls when taking political violence coverage
A.M. Best list includes megaquakes, hyperinflation and alternative capital
Sector should do more for planet’s “sustainable economic and political stability”
During his time at the helm of the CII, Sandy Scott has campaigned to improve practices within the insurance industry and make it more professional. So, what’s next?
Local and global insurers vying for position in emerging market
Taylor on what drives modern reinsurance buying
Unrated NWIC’s liquidation shakes market
Spread of IS equals heightened risks for businesses
GR looks at why insurers are hampered by the fact they still rate their business using spreadsheets
A look at how improved technology and better availability of data is changing the role of the underwriter
In a market haunted by costly tech failures, GR asks if cloud computing can work
Reeves on meeting Rupert Murdoch, what makes a good boss and lessons learnt
New transparency directive to hit companies with 500+ staff
The answer lies in the findings of a recent case at the European Court of Justice
Many worry, but peace of mind is closer than they think
Internet of things, 3D printing and biotech IT top the list
As head of its new Eurasia & Africa division, seasoned traveller Giles Ward is excited about expanding Ace’s global footprint
The evolving nature of cyber crime means insurers must be wary
Monte Carlo 2014: BSX boss on growing market share and accessibility
Monte Carlo 2014: Industry is at a digital inflection point, KPMG study finds
Monte Carlo 2014: Global insurance services head Adrian Guttridge outlines progress on five year growth plan
Monte Carlo 2014: Perils product head Eduard Held on the future of the data firm
Monte Carlo 2014: $20bn of alternative capital has entered the industry over the past two years
Monte Carlo 2014: Excessweather to pay claims based on weather data not loss
Monte Carlo 2014: Massimo Reina on fresh ideas, underinsurance and M&A
Monte Carlo 2014: Reinsurance broker announces return to previous brand at Rendez-Vous
Monte Carlo 2014: Including previously excluded risks could spark ‘a torrent of future litigation’
Monte Carlo 2014: Most innovation taking place on cusp of primary insurance and reinsurance, reinsurer says
Monte Carlo 2014: Economic expansion helping counter the effects of ‘unsustainable’ pricing levels, says QFCA’s latest report
Swiss Re, Munich Re and Hannover Re bosses on relevance
Executives from Willis, LMA and Hempel on prejudice and diversity
KCS Group chief executive Poole-Robb on the changing face of cyber attacks
Allianz Re chief executive Amer Ahmed on how his reinsurer does things
Liès talks about growth, investment, Monte Carlo and whether he wants Swiss Re to be the world’s biggest reinsurer
Sometimes Monte Carlo is wrong, says Kessler - Don’t let sweeping generalisations distract you
Growth volatility and aggressive investment make the list
Reinsurance chief tells GR that at the biggest reinsurance group in existence, flexibility is the name of the game
After years of volatility at Hannover Re, Wallin has mastered a delicate balancing act – combining innovation with a ‘steady as she goes’ approach
From January, driverless cars will be tested on public roads. What will such vehicles mean to the insurance industry?
Companies faced headwinds but enjoyed a rise in investment returns
Xchanging’s Chris Baker offers insight on how insurers can unlock the doors to more global business
RMS chief reviews his career in cat modelling and reveals the last time he said sorry
Scott Carmilani tells GR that $215m RSA purchase will provide Allied World with more underwriting staff who understand APAC
Beale tells GR’s sister StrategicRISK about her rise to lead Lloyd’s
(Re)insurers must manage risk of collateral damage from the OECD’s base erosion and profit shifting (BEPS) initiative
Staying compliant with the constantly evolving sanctions regime in Russia
Guy Carpenter president and chief executive looks back on his career and shares his expectations for Monte Carlo 2014
Evidence is mounting of the insurance sector’s value to a world increasingly at the mercy of natural catastrophes, argues Michael Butt
GR outlines the challenges for insurers wanting to grow in regions that are more vulnerable to problems with corruption
The raising of the foreign direct investment cap in the Indian insurance market has been welcomed but still leaves many questions unanswered
The time-honoured reliance on arbitration to settle disputes is under threat as reinsurance contracts evolve
In a tough market, software investment pays dividends
Clyde & Co partner explains the implications of C-ROSS
Key is to cut uncertainty and limit volatility, says Sandra Burmeier
O’Kane discusses his five year plan, Aspen’s Q2 results, cyber risk, and staying ahead of the competition
GR worked with Hogan Lovells and looked into an insurance crystal ball
Market participants keen to see the country open up more
XL Group chief executive on why there is no head of innovation at his company
ISIS conflict affects whole MENA region
HFW’s Daniel Martin tells GR why insurers need to brace themselves
AWAC’s Bill Cotter is a man on a mission, albeit one that he refuses to rush
Behind the region’s insurance explosion
Goldberg Segalla on why Lloyd’s is unlikely to face an American revolution
Physical damage could be $100m, lengthy settlement expected
Amer Ahmed, Denis Kessler, Mike Morrissey and Torsten Jeworrek air views
Destruction of MH17 may force company to rebrand, warns one industry insider, while insured losses to cost hundreds of millions
Director general Michaela Koller gives update
FM Global on the benefits of proper execution
Mid-market firms are not managing their information risk effectively, stopping growth
New sentencing guidelines are a risk and an opportunity
How consumers access goods and services is changing, and insurers must adapt
Supreme Court ruling brings good news for insurers
Broker buys 26% of India’s Independent Insurance Brokers
The tougher economy and insurers being more careful about paying claims has left brokers in the firing line
RSA, WWF and PwC set our recommendations for handling growing environmental systemic risk
Russell Group’s Suki Basi on the challenges and opportunities of the sector
Stabilising reinsurance rates or large catastrophe most likely aids to reinsurers
A new report by Airmic and IoD warns that business leaders are not doing enough to address global risks
Aon’s cyber diagnostic tool highlights key markets at most risk of cyber attacks
London market playing a major role in covering the insurance needs of clubs and companies at the World Cup 2014
Allegations of interest rate swap market manipulation could spark wave of costly D&O claims and litigation
Lloyd’s chief executive to address the MENA region’s leading insurance event
The industry needs evolution and change, Case argues
The risk of conflict and political violence is increasing in size and severity for multinationals
GR interviews the Korean Re chief executive on lessons learnt, his dream job and why he has nothing he wants to insure
Insurance market has occupied Richard Rogers-designed building since 1986
If used incorrectly, technology can hold firms back or even cause harm. But used correctly and the rewards are great
New rules proposed by the UK’s Prudential Regulation Authority point towards a more restrictive approach to schemes of arrangement and capital extractions for insurers in run-off, argues Gerry Quirk, Clyde & Co
The way we live, work and think is about to be transformed – the industry’s challenge is to be a full part of the big data story
Large multinationals are buying more credit insurance as the risks increase, according to Marsh
GR looks at how smart application of technology will be crucial in driving down costs for the labour-intensive insurance industry
Allied World’s Europe chief outlines his growth plans and vents his frustration at the ‘introverted’ London market
Abu Dhabi, Dubai, Qatar, Singapore, Hong Kong, Kuala Lumpur and Bermuda are all rising fast
Ebix’s Jeff Ward looks at how technology can now be an integral part of contract certainty
Agents and brokers must adapt to their customers, says Swiss Re
Direct regulatory costs are more than five times higher than in France and Germany
Boss of one of the largest independent wholesalers in the world says retailers are ‘asking more questions’
Cross-border transactions fuel demand for transactional risk insurance, Marsh reports
Gibraltar Finance insurance head lays out battle plans
Infrassure experts on the insurance challenges of Arctic exploration
With flood losses predicted to increase, how should the (re)insurance industries react?
How one working group is trying to break centuries of tradition
Europe chief David Watson explains the rationale behind the reinsurer’s new Dubai office
Clyde & Co Shanghai partners give their views
EXCLUSIVE: Dylan Bryant explains how insurers can take advantage of these emerging risks
Chief executive Farid Chedid on his aims for the unit
Relevance must be the new mantra, argues Hiscox Re’s Krefta
Singapore has potential to increase credit and political risk insurance products, says Liberty Underwriters
Marsh chief on acquisitions, future plans, contingent commissions and the London market
George Carrington and Mike Hammond on strategy and the future of the firm
This was the question posed by JLT at high-level forums held in China, Hong Kong, Indonesia, Japan, the Philippines, Singapore and Thailand
Underwriting manager Andrew Duxbury on cancellation insurance implications
CUO talks business expansion and why a new Cold War is an opportunity for the Panamanian reinsurer
Hannover Re’s Eberhard Mueller on the past and future of his invention
CMS Cameron McKenna on what’s driving the uptake of M&A insurance
Reinsurer launches unsolicited bid to buy rival for $47.50 a share
Chief executive says sidecar good for all involved
Nationalism is now increasingly dominating the political landscape in Europe
As China’s regulators relax M&A rules, could this open the previously restricted $288bn market?
VIDEO: Watch coverage of the Multaqa 2014 chief executive debate
Increasingly volatile weather is becoming a global trend and businesses need to be prepared for extreme and unprecedented disruptions
Progressive Labour Party finance minister says Bermuda always “open for business” to (re)insurers
‘Sydney is the hub and we’re keen to grow further through Asia’, Brett Field tells GR
While M&A in the global insurance industry has dipped, deal-making in Asia-Pacific is on the rise
Karl-Heinz Jung tells GR that improved terms or rate drops still rife
Aon Benfield, Lloyd’s and Intersys give updates on developments
JLT and EbixExchange on advantages for the (re)insurance sector
Talking to GR following the announcement that the specialist insurance and reinsurance market turned a profit of more than $5bn in 2013, head of Asia Pacific at Lloyd’s Asia Kent Chaplin was in a reflective mood.
Black markets for cyber criminals are fostering attacks
Craig Cannonier explains why the status quo is the island’s enemy
JLT Towers Re’s new vice-president of public entity practice says the sector must make more of big data analytics
Craig Cannonier and Bob Richards speak frankly about their plans for the island, crime rates, and nurturing local talent
Craig Cannonier tells GR why the island’s ILS business is exploding
Europe suffered the year’s two most expensive disasters
Computer hacking is a multi-trillion dollar global business run by organised criminals to fund terrorist activities, warns security intelligence expert Stuart Poole-Robb
CMS Cameron McKenna’s Ed Foss tackles the issue
John Gauthier on adopting new approaches to investment management
Or are old techniques simply tapping into high levels of underinsurance in emerging economies, asks the head of Lockton Singapore
GR investigates why the full cost will top Libor scandal
Aviation risk expert predicts heavy reputational damage
‘Risk managers haven’t had a handle on the data’
Q-Re chief executive on retention, capitalisation and underwriting discipline
Mandatory clauses could avoid unnecessary future disputes, argues Carlton Fields Jorden Burt
The results of Hiscox, Beazley, Amlin, Novae, Catlin, and Brit analysed
Winning entry fought off stiff competition to take the inaugural insurance title
Indonesia suffers 40% of world’s piracy attacks and more than a third of shipping losses occur in Asian waters
Beazley Group specialty lines underwriter Jimaan Sane sorts fact from fiction
The region’s markets are ‘truly strategic’, says Swiss Re’s Kleiterp
European Parliament adopts key package of changes, completing the new capital regime
Delegates hear how understanding risk and including young people in the process is the way forward for business
QFC’s market survey reveals perceived opportunities and challenges
Annual conference highlight generates intriguing discussion on range of crucial insurance industry issues
GR interviews IIS president Mike Morrissey
While the popularity of secretive virtual currency Bitcoin continues to soar, questions remain over its market volatility, and the risks associated with its use
Howden believes in rapid growth, and is confident he can achieve it
Trade body lists upcoming issues and Biba’s involvement
As Asia’s GDP rises, how can insurance penetration be increased?
Rise in piracy in APAC maritime criminality zone also flagged by GEOS
As wildfire frequency increases, we examine the state of the problem
Could the $11bn US market spill over into Europe?
The increasing desire to move across borders means firms must have closer relationships with insurers
Insurers and third-party suppliers discuss the pros and cons of outsourcing the claims handling function
Investors are cautiously pursuing opportunities in foreign jurisdictions and pushing insurance limits higher than ever before, says Marsh
Brazil’s regulator says its insurance supervisory rules may be ahead of Solvency II requirements in many of its important provisions
Controversial rules relaxed in current version of IMD II
GR investigates why Mexico, Indonesia, Nigeria and Turkey have been earmarked as the next bloc of insurance markets to watch out for
Allianz Re chief also examines hot spot accumulation monitoring for risk management
When claims become politicised the costs can snowball. So how do insurers prepare and price for such an eventuality?
What are the opportunities for insurance companies?
Allianz marine experts on why the salvage job was so costly and long
With no let-up in the capital market’s enthusiasm for the sector, Bermuda’s traditional players are doing what they do best: adapting
After a shaky period, the island’s reinsurance sector is optimistic
International insurers need a better understanding of the region’s complexities to fully capture its growth opportunities, says Allied World’s regional head of professional lines.
Event brought together 150 senior executives to debate MENA insurance and Lloyd’s expansion plans
Northdoor’s Tony Russell on the opportunities and challenges for insurers
MULTAQA 2014: With cyclones and floods on the rise, reinsurers examine the future
Career paths, climate change and coastal erosion feature in Asia panel discussion held as part of RMS exposure and risk-management platform world tour
Natural catastrophes could reverse trend
Expectations, attitudes and behaviours across the industry are changing at pace
OPINION: Ace’s Iain Ainslie on the growing cyber insurance market
Asia-Pacific key to global organisations targeting long-term insurance growth, says EY partner
Rice reflects on guiding his firm through a troubled 2011, and looks forward to a year of continuing growth
As reinsurers look to expand globally, how should their staff mix change?
ANV’s Thomas Mannsdorfer discusses the latest trends in transactional risk insurance
GR Executive Briefing: Lloyd’s and Catlin on opportunity in Dubai
Aon Benfield, Guy Carpenter and Willis Re respond to GR poll on how to stand out
The region suffered 52% of all terrorist attacks in 2013
Sarah Turvill talks about how to bring women into senior positions in insurance and Willis’s mentoring programme to help retain them
Ahead of the long-awaited publication of the final draft wording, GR’s sister title Insurance Times examines the implications of these latest regulations
MULTAQA 2014: Akshay Randeva, director, strategic development, Qatar Financial Centre Authority, looks ahead to the March event
Head of MENA specialties looks ahead to the next meeting of the GR MENA Broker50
GR and NIIT Technologies host top-level briefing
Fraud is rising, with nearly 40% of perpetrators in senior management, says KPMG
Group chief executive Esser and chief executive Newman lay out plans
Regulation and market modernisation the second and third worries
Climate change a factor behind extreme weather, claims Ergo
Christian Vogel talks about World Expo Dubai, trading partnerships, and why the region should no longer be considered a non-cat market
New capital in the market could bring its own range of dangers
McGloin says cyber threats are among the top three risks for 2014
Deutsche Asset & Wealth Management’s Ayer sums up 2013’s investments and looks ahead
New regulatory plans aiming to categorise the insurance industry with other financial organisations are stirring up concern
Administrative efficiency through the use of modern software is key to growing business and keeping customers happy
A major ruling on cedants’ settlements set a precedent in 2013 for future procedures in reinsurance cases heading to court
Lester identifies the challenges for 2014 and tells us about biggest risk he’s ever taken – taking the stairs from the 100th floor of World Trade Centre Tower Two during 9/11
Hahn lays out plans for his business and hopes for the market
US insurers and reinsurers have left behind the recent dismal operating environment, to emerge capital-rich in 2013
Richard Ward reminisces about working at his ‘temple’
Secquaero Advisors managing partner Dirk Lohmann airs views
BNY Mellon’s head of insurance Paul Traynor on the main events of the year
Markel, Lockton, JLT, Allianz and AIG bosses speak out
Little is still known as to what the actual structures and forms of convergent capital look like
ACE Continental Europe president warns that distributors are facing higher levels of export risks as they expand into emerging markets
GR looks into bribery and bad business practices across the region
‘There is a very strong will to take on cyber risks, but insurers need to build a book of business around that’ – Marsh’s EMEA cyber risk lead Stephen Wares
MULTAQA 2014: What are the factors that will drive insurance penetration?
Could the continent see a US level of class actions?
EU law lacking when it comes IT and cyber protection
Recent catastrophes have shaken up Asia’s (re)insurers, but firms are now coming up with highly advanced cat models
KPMG’s new head talks global insurance reporting frameworks, insurance M&A, and why insurers need to be more customer-centric
Emerging markets are the key to insurance growth, yet captives have still to take off in the region
China and India are driving the growth in demand while the key to success for insurance companies is to keep it simple
The obstacles for Asia takaful to reach its potential need to be tackled
Kessler believes that life as a ‘reinsurance industry guy’ is much like that of a monk – both are vocations that never fade
Original rates are creeping back up but will cedants be able to maintain their large liability retentions?
As ILSs play an ever-bigger role in US property catastrophe, traditional reinsurers will be forced to redeploy capacity elsewhere
The marine market has recently had a shake-up after knock-on effects from natural disasters and needs to start changing its outlook
Estimation difficulties exacerbated by uncertainty about take-up rates in the Philippines
The region’s insurance firms are spending strategically
CMS Cameron McKenna partner Alex Denslow on which disputes will evade the London market’s drive to contract certainty
Asian insurers need common methods to examine risk, but despite low yields they are still steering clear of high-risk assets
Demand for D&O liability insurance is on the rise in Asia as company directors and executives across the region become more aware of their potential personal liability exposures
With GDP forecast to continue its upward sprint, creating a healthy economic outlook, opportunities for insurers in the Peruvian market are plentiful
New risk models are needed in the world’s largest agricultural market, says Asia Risk Centre chief executive Roman Hohl
As attention in global insurance shifts towards the emerging markets, London needs to make sure it enhances efficiency rather than resting on its laurels
‘Cry of anger’ over bribery echoed by businesses, anti-corruption expert tells GR
Energy from waste is heading for a boom, but (re)insurers eyeing this innovative sector should be aware of the potential problems
Many firms are venturing into parts of Africa, Latin America and Asia, but such new markets can present both regulation and local government challenges
‘No region has a franchise on genius when it comes to risk management’, says Matthew Cannock
A recent legal battle between Allianz and a shipping company has shown how vulnerable providers can be to legal challenges brought overseas
When Richard Ward leaves at the end of the year, what qualities will his successor need?
Intelligent investment key to dealing with future super typhoons, says Aon Benfield’s Mr Hurricane
ILWs have gained in popularity in recent years, particularly in the Bermuda reinsurance market.
Conyers Dill and Pearman Bermuda insurance practice head Chris Garrod on the future of convergence
Willis global head of placement, Alastair Swift, argues deal will be good for the London market
Businesses are wising up to the pitfalls of complacency, says FM Global
Regulators’ old ideas about what makes a sound investment are choking insurers’ profitability
PHOTO SPECIAL: More than 70 fires are burning and at least 30 uncontained
Aon sub-Sahara Africa chief says businesses need to invest in the continent
Increasing insured as well as economic losses show how susceptible modern societies are to the impact of nat cats
The Electronic Claims File (ECF) is the centrepiece of the London Market’s efforts to embrace a digital world
GR analyses the rating changes and what they mean for (re)insurers
How building codes trip insurers up, and what the future holds
‘We’re not out there trying to grow faster than our competitors … we don’t need to do that’
But Lloyd’s would be concerned by a proliferation of similar deals, says finance chief
Hogan Lovells discusses how to future-proof transactions before the implementation of Solvency II
Food security on the menu as catastrophe expert examines appetite for emerging risks
As the market continues to soften, money from pension funds is streaming into insurance-linked securities. But are these investors prepared to withstand the impact of a major catastrophe?
US a “major strategic priority,” says group commercial director
Regional chief executive says new Allianz Asia hub will make firm’s reinsurance operations ‘more visible in Singapore’
Excess supply coupled with sluggish demand means reinsurers must learn to ride the waves of buoyancy
Directors’ and officers’ policies are increasingly having to take account of the financial burden of wave after wave of regulation
As Latin America’s middle classes rise and prosper and the continent’s rich natural resources are giving the regional economies a boost, what new opportunities do reinsurance senior executives see ahead for their markets?
Swiss Re is one of several reinsurers putting in place systems to avoid getting involved in unethical work, as it believes this benefits society and its business
Fitch Ratings’ observations about the reinsurance sector reveal an inconsistent picture
China and Indonesia present huge prizes, says Wan Siew Wai
The FSB’s reinsurer list for globally systemically important financial institutions will be a double-edged sword
Compliance with the US Foreign Account Tax Compliance Act (Fatca) is a murky area for (re)insurers
ACR Capital Holding chief executive John Tan has mixed opinions
Catastrophe risk appetite high, says chief executive
Increase in US sanctions raises compliance burden on reinsurers
UK’s tax regime has changed significantly since the likes of Hiscox, Catlin and Beazley left
Vast swathes of information – from sources including weather forecasting, mobile phone use and social media – could be used to challenge assumptions and mitigate risks
Asia chief executive tells GR “there’s room for a strong number four”
Barbican’s chief underwriting officer discusses challenges facing the reinsurance market, including the growing convergence with the capital markets, and why it is a good time to be part of the Lloyd’s franchise.
Potential vulnerabilities in automotive computer systems fuel fears of liability risks and product recalls
Marsh warns in particular that climate change is not a risk factor built into most Asian infrastructure investment models
Aon Benfield catastrophe update sheds light on major natural disaster costs in region
There have been significant changes in the insurance and reinsurance legislative landscape in the UK over the past year, and the rest of 2013 promises even more
The past two years have provided a steep learning curve in natural disaster claims handling, leading to a more refined approach and before-the-event strategy building
Banks and insurance companies have become one another’s port in the regulatory storm since the crisis of 2008, and found new dimensions to their partnerships
Media reports and surveys are revealing the extent to which organisations are vulnerable to the effects of data security breaches
The UK’s public/private proposition sets a template, but will other countries follow?
Capital appears to be flowing into the US reinsurance sector in various forms, but storms and legal developments taking shape this year might yet stretch resources
(Re)insurers from mature and emerging markets are pouring capacity into the Middle East
The sovereign debt crisis and a catastrophe-hit 2012 have not dented Europe’s competitiveness in the world market – but it must stay ahead of emerging markets
GR speaks to Jeff Singer, chief executive, Dubai International Financial Centre Authority, about Dubai’s role in international (re)insurance and why the Middle East needs support from Lloyd’s
Aspen’s chief executive discusses the business’s work in developing countries, its treatment of capital markets and its hopes for renewed growth in the US
The rise of Latin America’s middle-class has been one of the biggest stories from the region and insurers are taking advantage of the phenomenon
Bermuda’s tax position continues to stir up controversy among global financial regulators, but this is more than offset by its thriving reputation as a reinsurance hub
While the region is considered to be underinsured, profits have yet to materialise for foreign investors who have already taken the leap
FM Global survey reveals how maintaining business continuity following natural disasters goes beyond insurance
What do the new US-Iran sanctions mean for international (re)insurers and how can they protect themselves?
Lloyd’s is pushing for licenses in India, Turkey and Colombia
Aerosols may even control multi-decadal cycle, says Met Office research
Since the 2002 floods, protection has improved and insurers have introduced higher deductibles or withdrawn from providing cover in loss-prone areas
(Re)insurers see growing demand for specialist cover
Ahead of next week’s annual seminar in Seoul, the International Insurance Society’s president tells GR why a changing global demographic should force insurers to adapt their business models
Will the Independent Insurance Authority prove a burden?
In the final article to celebrate its 150th anniversary, Swiss Re tells GR about its work in the modern era of reinsurance and how the company navigated the 9/11 terrorist attacks and the global financial meltdown
In the second of a three-part series to celebrate its 150th anniversary, Swiss Re tells GR how a series of catastrophes in the 20th century highlighted the importance of seeking well-capitalised counterparties
Will Turkel of Allied World Re explains why many international (re)insurers are finding it hard to gain a footing in the Latin American market
The US Midwest braces for more tornadoes as the mid-year renewals approach
In the first of a three-part series to celebrate its 150th anniversary, Swiss Re tells GR how the company started and how it helped shape the modern age of reinsurance
Randy Brown of Deutsche Asset and Wealth Management explains that if insurers want more return then they need to take on more risk
Makes environmental liability insurance compulsory for polluting industries
The new Lloyd’s construction consortium reflects changing demand as construction in the BRIC economies gathers pace
Antares head of ceded reinsurance Richard Anson tells GR his focus and strategies for dealing with the current economic climate, alternative reinsurance structures, and what he expects from brokers
Hailed as the future of cat modelling, GR investigates whether the new software really is a game changer
RMS chief Shah urges rival to make modelled output available to new system
What will be the cost of future disasters as insurance penetration and assets grow?
As the country opens up, (re)insurers need to move quickly to seize the opportunities
A court case related to the Christchurch earthquake highlights how government reponse can affect cover in natural disasters
US federal reinsurance backstop continues to stabilise terrorism insurance market – Marsh
Traditional reinsurers are offering collaterised reinsurance and retro protection through sidecars
Lobbying pays off as finance minister backs plans to raise the FDI limit to 49%
Last year’s US dustbowl was ‘sequence of unfortunate events’, insists a new report
Sharing data is vital to establish a better industry standard
Markel’s President Jeremy Brazil tells GR about the company’s strategy, the Alterra deal, and which trends he will be following this year
The Iran quake is another reminder of the inherent danger in building nuclear plants in catastrophe zones
More aggressive pricing apparent at 1 April
Eiopa mandates parts of the new regime to come into force on 1 January 2014
Regulations and sluggish growth continue to challenge Chinese insurers
Munich Re’s Peter Hoeppe and Karl Murr discuss why extreme droughts are soon to become a regular occurence
Premium growth in Brazil, Mexico, Colombia and Peru is attracting foreign insurers
Insurance event Semana del Seguro highlights growth opportunities for the industry despite the economic crisis
Mixed feelings as Berkshire Hathaway arm prepares to muscle in on Aon business
Increased confidence and awareness of product driving uptake, says CMS Cameron McKenna
Experts say firms are increasingly switching to multi-country approach
Marsh says ‘fundamental rethink’ needed; JLT argues models should be used more appropriately
Court ruled that attacks in New York constituted two events for reinsurance purposes
Low interest rates, volatility, tough economy will continue to dog insurers - Deutsche Bank
PwC’s Arthur Wightman on Bermuda’s future and the island’s ILS resurgence
PHOTO REPORT: AIR Worldwide discuss how Superstorm Sandy has informed the understanding of damage and vulnerability on the US East Coast.
Discover how local insurers are competing against the global players
Asia Risk Centre’s Roman Hohl on how the region has developed since the 2011 catastrophes
Benign cat year and high levels of reinsurer accrued capital to keep rates down
Mike McGavick, XL chief executive, and recently elected chair of ABIR
INSIGHT: Why Willis believes reliable global climate forecasts will soon sit alongside annual economic forecasts
Many insurers continue to accept fraud loss as part of the cost of doing business
Claire Souch, vice-president for model solutions, risk modelling firm RMS
Lancashire anticipates rate deterioration while Munich Re predicts hardening
Wind versus flood litigation likely; $20bn loss will be ‘manageable’
Cat loss potential grows as Asian economies take off
Overcapacity is once again a concern in the Asian reinsurance market
Munich Re, Swiss Re and Scor issue $250m worth of bonds for USA and European windstorm
Munich Re ties increase in weather-related cats to warming climate
Depressed markets and low valuations force reinsurers to put IPOs on backburner
The global reinsurance industry is in good financial shape, but that is just as well - it faces one of the most testing periods in its history. Here, some of the market’s leading minds discuss the six big challenges facing the industry - and what can be done about them.
Since Saudi Arabia started to regulate its insurance market a decade ago, business has boomed. But there are doubts over how many firms are making money
Tough regulation and regional harmonisation are vital if the insurance sector is to fulfil its potential in the Middle East
The Middle East region paradoxically provides diversity in business and inherent, unavoidable risks
Allianz’s global London division boss on the market, Eurozone crisis and Solvency II
Reinsurers are used to blending different cat model output but a data-sharing agreement between AIR and RMS could make life a lot easier
Reinsurers tightened capacity for unmodelled perils at key renewal date
Major catastrophes in Asia Pacific in 2011 are setting the tone for 1 April
Crucial Omnibus II vote is delayed again and the UK PM goes on the attack
Billionaire investor’s letter to shareholders is no ordinary filing
Many reinsurers hit by 2011’s huge catastrophe losses are heartened by the increase in rates they have achieved this year. And the hardening looks set to continue
India is the final frontier for international (re)insurers and pressure for relaxed foreign investment laws is the first step
Losses from the sinking of the Costa Concordia cruise ship could go as high as $1bn, with reinsurers taking the biggest hit
Last year was the safest ever for the aviation industry, with no major fatal crashes and hull and liability losses halved, reports Lauren Gow. While better security helped, so too did luck
Accidents like the Deepwater Horizon oil spill have woken underwriters up to the fact that offshore energy operations require much more complex cover
A change to US legislation aims to end an unintended tax subsidy for foreign-owned insurers, and stem the flow of capital out of the country. But with the likelihood that rates will rise and capacity will fall as a result, insurance buyers are not happy
Long esteemed for its speedy approval of new companies and low taxes, Bermuda has lately lost some of its gloss. Lauren Gow examines the impact of market instability and asks if it can once again be a (re)insurance shining light
Signs that reinsurance rates are flattening in Latin America are welcomed by those who have seen the market get softer and softer. But are this year’s low interest rates enough to offset the market’s excess?
Against the odds, some reinsurers are set to make a profit in this, their worst ever year, and yet the market remains balanced on a knife edge
A change to US legislation aims to end an unintended tax subsidy for foreign-owned insurers, and stem the flow of capital out of the country. But with the likelihood that rates will rise and capacity with fall as a result, insurance buyers are not happy. Lauren Gow reports
Bowring Marsh UK’s Andrew Chester spoke to Global Reinsurance at the Ferma conference in Stockholm about the downward and upward pressures on premiums
TigerRisk’s new London boss chats to Ben Dyson about why London is the next stop on the TigerRisk train
Both players offer 83p a share, but only Mark Byrne’s Haverford has Omega board approval
The three-way fight for Transatlantic Re and the continuing uncertainty over Omega have added impetus to what is already a standard subject at gatherings.
For many, Monte Carlo is the place to take market temperature, with natcats the hottest topic this year
IAG’s Mike Wilkins pulls no punches when talking about his company’s unstable past, which just makes him more resolute about the future, finds Lauren Gow
As the timetable for Solvency II is stretched yet again – this time to 2014 – David Blackman looks at the hurdles encountered so far and the many still to be faced
Despite the strengths of the other two bids, National Indemnity’s offer for Transatlantic looks like a winner
The first Lloyd's insurer results of the season contain some useful indicators of what to expect from others
Willis’s record-breaking FSA fine over its foreign business relationships in high-risk locations is a cautionary tale. So where did it go wrong?
A Validus/Transatlantic merger has a number of compelling features in its favour, not to mention Ed Noonan’s legendary determination
Aviva is considering setting up at Lloyd’s after an 11-year break from the market, but could face challenges
Severe windstorms hitting the forestry sector can cause €1bn+ losses, AIR Worldwide warns
A series of natural disasters has prompted a surge in popularity for catastrophe bonds. But, as global weather patterns get increasingly unpredictable, investors are demanding higher returns on their outlay
Gallagher International's recent takeover tactics are a wake-up call to the market – but is it brewing up trouble for David Ross?
Lloyd’s is in an excellent position to usher in the changes of Solvency II, but shares the industry’s concerns about the implications of a standard formula
'EQECAT doesn't do predictions', president Keogh says - it's all about managing uncertainty
If the original Electronic Claims File project brought faster paper-less claims processing, ECFII takes the user experience to a whole new level
A surprisingly early US tornado season has caused panic in the reinsurance industry. Should it seek shelter or will the worst blow over?
Following a staggering run of natural catastrophes, the industry has been awaiting the 1 April renewals with interest. While rates on a local level have seen some rises, high levels of reinsurance capital are suppressing a wider hardening
Warren Buffett’s recent venture in India has cemented many people’s view that the country is poised for major growth in insurance. But, with industry concerns and uncertainty in the way, the road ahead is not without obstacles
New rules in Brazil have placed limits on transfers and cession to international (re)insurers and, despite some concessions by the regulators following industry lobbying, critics warn that these limitations may impede the growth of the market
The recovery effort has begun, but confusion over what really happened during the Australian floods and the scale of the damage could mean reinsurers end up paying out more than they need to
The recent renewals figures issued by the top reinsurance brokers, which indicate a 5%-10% decline in rates, will clearly be a disappointment for reinsurers.
The past year has seen sweeping change at some companies - and a surprising lack of change at others
As 2010 comes to a close, Lauren Gow reviews the many lows of the first half of the year, the relative highs of the second and the handful of near-misses (can anyone say Eyjafjallajökull?)
Analysts predict that the reinsurer could buy back up to $2bn shares to improve return on equity as it re-risks to offset low bond-yield pressure
On the crest of a wave of positive developments – solid profits, success in court and a positive rating outlook – Swiss Re has decided to reorganise its business structure and management heads. But some aspects have been tried before, with mixed results
‘Surge capital’ is the key to success for new company Paraline, says chief executive Jack Graham. The Bermuda-based reinsurer says that Lloyd’s structure is perfect for a counter-cyclical company looking to scale up or down according to market conditions
Trust, flexibility, security of capital and acute awareness that begins at the underwriting stage are all key to confidence in the relationship between cedants and reinsurers. Global Reinsurance joined players from both perspectives to share insights at a roundtable discussion
While there was no conference-defining event to focus the minds of Monte Carlo delegates this year, reinsurers’ levels of capitalisation, profitability prospects and ability to innovate were debated as the industry enters a tough phase in the cycle
Criticised for failing to predict the banking crisis and for the simplicity of their financial strength models, has the illusion of power wielded by the rating agencies finally been broken?
As preparations gear up ahead of this year’s Rendez-Vous, the key themes and talking points between reinsurers, their clients and brokers will focus on much more than just price
Europe’s biggest reinsurers experienced both highs and lows in their recently announced first-half year results. Some saw profit fall, others posted a rise but they are all facing a second half of either further catastrophe losses or softening rates
With plenty of capacity and a continuing soft market, the 1 January renewals should hold no surprises. But, talking to cedants in the run-up to Monte Carlo, we discover that meeting the needs of reinsurance buyers is about more than just the right price
The IASB’s proposed new accounting standards aim for improved consistency and transparency. However, we should expect more volatility in insurers’ results, and the market will need time to adjust to the changes to income statements
Fears of an active Atlantic storm season have temporarily slowed cat bond activity. But the outlook for the year remains bullish, thanks to the market’s strong value proposition of diversification and competitive pricing
Hannover Re’s chief risk officer and chief actuary reveals how his firm is getting ready for Solvency II
A move to Zurich is enabling more and more firms to hit the business their existing bases cannot reach. But despite the tax benefits and being a Solvency II-free zone, the move is not without its challenges. And a warm welcome from local players is far from guaranteed
Chairman praises industry’s performance during crisis
The Gulf of Mexico incident could force up prices for offshore energy liability insurance by as much as 200%, says Barclays Capital. We look at the reaction so far, and consider the pressure that the disaster is likely to place on the reinsurance industry
Tough new tax measures from the IMF aim to catch insurers, even the most risk-averse reinsurers, in the same net as banks. As the industry lobbies next month’s G20 for exemption and urges government to water down the proposals, we ponder the outcome
The current financial crisis tells us that risk management is vital for every bank and insurance company. Stress testing and scenario analysis will play a big part
World’s richest country per capita can expect growth in 2010; Multaqa conference will discuss opportunities.
AM Best says reinsurers should be aware of new challenges and opportunities in five national markets
Bruce Ballentine of Moody’s on new agreements between brokers and US regulators.
Swiss Re's chief risk officer explains why he wants to see a network of state-appointed country risk managers to prevent global crises.
The Ethiopian Airlines lost on Monday is one of a number of major aircraft crashes over the past year
Moody's highlights increased vulnerability to catastrophe losses
Reinsurers and cat modellers make their forecasts as ILS market returns
Aidan Christie QC writes about a legal judgment of great significance to the reinsurance industry
S&P identifies strengths and weaknesses of the recent Swiss Re cat bond
Indonesia, Mozambique, Peru, Ukraine - even Iran - have potential, says report by Control Risks
Commission refuses to budge on excluding standard policy clauses
New report highlights mutuals' concerns about health of reinsurers
Risk management has never been so important, writes Steve Taylor-Gooby of Towers Perrin
An update on insurance regulatory change in South America from law firm Mayer Brown
New issues activity signals revival in catastrophe bond sector
A presentation given at Lloyd's by Senator Insurance Services
AM Best interviews David Sandham, Editor of Global Reinsurance, about higher reinsurance rates
Stefan Lippe – mathematics graduate and long-serving executive has been credited with transforming Swiss Re’s approach to underwriting.
Low sales on second highest sales point of the year likely to impact retailers approach to insurance.
JLT points to a more risk-averse attitude among Gulf investors.
Weather watchers say they have already predicted the intensity of this year’s Atlantic hurricane season.
Did 2008’s hurricanes meet expectations? Professor Mark Saunders of TSR reviews a stormy year.
Premium income of the UK’s insurance industry was a record £263bn in 2007, says report
National Health Insurance Exchange proposed. Tax on employers who do not provide coverage.
1,000 properties destroyed. Tea Fire contained, Sayre Fire and Freeway Complex Fire continue.
Risk professionals do well in downturn, says survey. A top UK CRO can take home £850,000.
Prudential appoints Credit Suisse to advise it on the auction
Ratings agency expresses concern over FHCF capacity to pay claims on a severe hurricane.
As the market watches for the result of the credit default swaps settlement auction, read our easy guide to what's happening.
Benfield report shows balance sheets were fortified for potential losses.
Lloyd's franchise director warns the tide is changing for the international marine and energy sector
AIG requests a $40bn loan from the Federal Reserve to turn around plunging market sentiment
Hurricane Gustav caused serious damage, but much less than had been feared. Now, three tropical cyclones are lurking in the Atlantic Basin. Could any of these three develop into monsters?
AM Best believes the effects of the storm will emerge over several months
Ernst & Young survey finds that underwriters are concerned about impact on prices
Moody’s confirms resilient H1 performance, but still urges caution
New York regulator considers the next step in the contingent commissions saga
European economies struggle with rising inflation and slowing growth. Credit crunch shows no signs of abating, says Moody's.
1H08 pre-tax profits of Lloyd's insurers to be 24% worse than last year, says equities analyst. Cat losses take their toll.
Efforts to ‘simplify’ EU exemptions on insurance could instead create uncertainty
Swiss stockbroker's new report compares reinsurance with insurance sector
Political instabilty forces businesses to consider their exit strategies
Aviation accident legal change in Russia would increase compensation
State authorities fear they could be ‘regulating themselves out of the global market place’