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Insurance
Steve Bowen, director at Impact Forecasting, Aon Benfield’s catastrophe model development team, has said that this April is the costliest for five years in terms of economic and insured losses for natural disasters. 6 May 2016
Insurance
Insurers worry that the introduction of self-driving cars will shrink auto insurance premiums, but these decreases may be offset by an annual $15 billion additional business from new insurance product lines centred upon autonomous vehicles, according to a US study by Accenture. 19 May 2017
Insurance
It is targeting a top 10 reinsurance spot on a global basis but GIC Re understands that, especially in continental Europe, reinsurance is a long-term relationship-driven game. Lucky then that the Indian company is itself a long-haul player and will be patiently awaiting any opportunities, says Alice Vaidyan, chairman-cum-managing director of GIC Re. 23 October 2016
Insurance
It is targeting a top 10 reinsurance spot on a global basis, and to achieve this GIC Re must overcome a complex regulatory environment and shrinking panels to crack the North American reinsurance market. Yet the company is determined, says Alice Vaidyan, chairman-cum-managing director of GIC Re. 23 October 2016
Insurance
The private health insurance market in China is expected to surge fivefold to Rmb1.1 trillion by 2020 ($167 billion) from Rmb 241 billion in 2015, according to a report by The Boston Consulting Group (BCG) and Munich Re. 24 August 2016
Insurance
AXA’s business mix will fundamentally change once its acquisition of XL Group is completed. Property/casualty (P&C) business will represent half its book of business as it diversifies away from being mainly a life & savings insurer. 5 March 2018
Insurance
The mortgage reinsurance markets have continued to develop and mature to the extent this product now represents a mainstream line of business for the growing number of reinsurers operating in the space, Joe Monaghan, leader of Aon Benfield’s US credit & guaranty, and government practice, told PCI Today. 16 October 2017
Insurance
Despite losses from the recent hurricanes set to exceed $100 billion, AM Best still expects the losses to have only a limited impact on the sector’s capital, making this an earnings event more than a capital event for the overall US property/casualty industry. 16 October 2017
Insurance
Reinsurers and large insurers are at risk of being hit by unexpectedly large losses stemming from a large cyber attack on a par with substantial hurricane losses in the US—because they do not understand their aggregations to this exposure. 16 October 2017
Insurance
While the industry has enough capital to handle the losses from the recent hurricanes, even at the higher end of estimates, it will be the psychology of the market that will determine potential changes in rates, with the fear factor having an important role to play, Brian Schneider, Fitch Ratings’ global head of reinsurance, told PCI Today. 16 October 2017
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