Natural disasters, inflation and population growth prove toxic mix for industry
Global insured losses from natural catastrophes exceeded $100bn for fourth consecutive year in 2023
Industry plays vital role in spreading risk but the business model is changing
Anant Bhalla turned a life insurer into a play on private assets. Now he wants to build a ‘merchant bank’ for the industry
Industry’s reliance on history to predict losses not sufficient for era of climate, cyber and AI risks, Greg Case says
Climate resilience efforts are essential to keep a check on policy premiums
Trustees are worried about growing involvement of overseas reinsurance firms in corporate pension deals
Property catastrophe reinsurance prices have surged over the past 18 months
And private equity’s insurance trade
Brokers and underwriters say this has been their busiest year to date
Potential for ‘contagion’ to wider financial sector and real economy as private capital groups have flooded in
Only 60% of $165bn losses from climate-related disasters were covered in 2022
Executive at the insurance market has called for ‘urgent’ investment in risk modelling
Companies are fleeing Florida as covering property becomes more expensive
FTX founder seeks payout from CNA as trial gets under way in New York
Given the worsening economics for claims, there is concern that risk will not be underwritten at any price
S&P Ratings was the second to downgrade
Car insurance still isn’t looking good, and then there’s the weather . . .
As weather grows more extreme, the French group is no longer keen to cover risks other insurers want to lay off
Increasing frequency of extreme floods, storms and wildfires has meant higher losses and lower earnings
Inflation goes beyond just supply chains and labour
Head of the world’s third largest broker says industry has had to raise premiums as the cost of claims has gone up
Low rates have created distortions across the financial world — life insurance companies are now facing issues
US health insurer is facing dozens of complaints alleging it has not paid its bills
