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The California Earthquake Authority expects difficulty sourcing capacity well into 2023. -
With weaker economic growth and competitive pressures hindering insurers' efforts to push through offsetting price increases, the ratings agency expects the sector's underwriting profitability to weaken.
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The reinsurer said the appointment comes as it looks to grow in the property treaty arena.
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Third-quarter statutory data reveals premium growth, worsening loss ratio because of increased loss cost trends and Hurricane Ian.
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Secondary perils – which have traditionally been high-frequency, low-severity events – accounted for 70% of all insured losses in 2022.
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Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.
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The transaction will add Latin American hurricane and earthquake modelling capabilities to Aon’s product suite.
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The CEO addressed the progress of the strategic process in his first interview since taking the role.
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Marsh McLennan is mobilising the insurance industry to support the UN’s Race to Resilience initiative, starting by featuring 17 climate adaptation projects.
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The industry’s recognition of valuation risks has spiked since carriers were “caught off-guard” by the impact of losses outpacing reported values.
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The impact of Ian losses on SiriusPoint’s total equity was ~3.5%, lower than RenRe and Everest, and in line with Axis.
