If you’re having trouble wrapping your mind around the scree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California and Siberia —you may be interested to know …
FRANKFURT — German reinsurance group Munich Re expects net profit to bounce back this year after more than halving in 2020 as the coronavirus crisis helped drive claims to a near-decade high. Major losses in 2020 for the virus and …
For years, property-casualty insurers have sought to protect their business from the ripple effects of a pandemic. The spread of the coronavirus is showing it may not be easy. At issue are business-interruption policies, which tend to pay out only …
Insurance losses from natural disasters fell last year after the U.S. was spared the full wrath of a major Atlantic hurricane. That’s according to the reinsurance firm Munich Re, which recorded total losses of $150 billion from events like hurricanes, …
LONDON — Lloyd’s of London expects “sobering” results from a survey of the workplace culture at its member firms, the insurance market’s chairman said on Wednesday as a rise in investment income drove a four-fold profit rise. In May the …
FRANKFURT — Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from …
According to preliminary sigma estimates, global total economic losses from natural catastrophes and man-made disasters in the first half of 2017 were $44 billion. That was well below the first half annual average of $120 billion of the last 10 …
Hurricanes, wildfires, tsunamis and other disasters cannot be stopped, but countries can plan for them — something some areas of the world seem to do better than others, according to a new study published in the journal Risk Analysis. Oceania, …
Allstate announced a major shift for the insurance industry as it embraces drone technology to further improve customer service. The company has been participating in drone test flights for use in property claims, the company announced. Following years of independent …
Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion) from 1.61 billion euros a year earlier, the …