reinsurers News

Munich Re Among Insurers Facing ‘Major’ Beirut Blast Losses

Some of the world’s biggest reinsurers are bracing for potential losses running into tens of millions of euros after last week’s explosion that ravaged much of downtown Beirut. Property damage alone from the blast, which killed at least 171 people …

Hurricanes May Cause More Pain For Pandemic-hit Insurers

The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment positions. However, recent years of hefty damage …

Tech Innovation Noted as Top Growth Prospect for Reinsurers

Technology innovation will provide the biggest growth opportunities for reinsurers in the year ahead, according to a just released survey by Guy Carpenter & Company, LLC, global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies. …

Education, Networking Prepare Claim Executives for the Future

Claim professionals gain invaluable insight from education and networking opportunities, according to industry experts who spoke with Claims Journal in exclusive interviews during the International Association of Claim Professionals (IACP) 47th annual conference in Sonoma, Calif., in September. The conference …

Commentary: Is Florida Ready for Claims Resulting From a Major Hurricane?

After tumultuous eight hurricanes in two years between 2004 and 2005, we haven’t seen a hurricane in Florida for over 10 years. Has the state learned from those storms? Are the insurance companies ready? What about the independent adjusting companies, …

Reinsurers’ Catastrophe Defenses Weakened by Hedge Funds

It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …

Reinsurers Expect Double-Digit Price Declines Amid Merger Frenzy

The world’s largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago as a flurry of takeovers in the industry fails to absorb some of the excess capital. Reinsurers and brokers …

Catastrophe Reinsurers Expect Little Pricing Relief in Coming Year

The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses. Rates for property/casualty reinsurance are expected …

In Search for Profits Reinsurers Consider Dutch Flood Coverage

The world’s biggest reinsurers, pushed by rising competition in existing markets, are preparing to insure against Dutch floods, a peril that centuries of experience have warned most in the Netherlands against. Swiss Re Ltd., the No. 2 reinsurer, is ready …

International Insurers to Cover an Estimated 50 Percent of Sandy Losses

Estimated losses from Hurricane Sandy currently stand at over $16 billion (as reported by publicly traded companies) but are anticipated to reach $20 billion. Regardless of the final totals, international insurance companies are expected to cover roughly 50 percent of …