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Both Germany and China have experienced their most costly insured natural disaster loss events in history in July, with both largely related to the impacts of devastating flooding, according to insurance and reinsurance broker Aon. Germany is expected to face around US $20 billion in ...
Environmental, social and governance (ESG) discussion is often focused on the investment side of the insurance and reinsurance industry, also in insurance-linked securities (ILS). Investments can drive change more deeply into business strategies, as industries could find capital will ...
Munich Re has reported €1.106 billion of profit for the second quarter of 2021. The COVID-19 pandemic continued to hit the reinsurers' life and health results, adding €241 million of losses during the quarter. The reinsurer noted that its 92% combined ratio target fo...
Storm Bernd struck Central Europe in July and caused most of its damage from flooding caused by a number of major rivers overflowing following extreme rainfall levels. Given Europe had faced more severe storms and floods in June as well and further storm activity in August, it likely ...
Analysts feel that reinsurance underwriters should be able to deliver higher margins on their underwriting portfolios, effectively a higher return per unit of risk written, because of this improved rate environment. If you think about the evolution of reinsurance over the last two dec...
Hannover Re reported a positive first half of 2021, as the reinsurance company continued to grow into the firmer market conditions. Major loss net expenditure fell to EUR 325.9 million, down from H1 2020’s EUR 737.0 million, which was below the budgeted level of EUR 476 million...
Assets under management at the largest dedicated insurance-linked securities specialist manager, Nephila Capital, rose to $9.8 billion after the second quarter of the year, while revenues reported for the period were almost flat with the prior year. For Q2 2021, Nephila Capital recogn...
AXA Group reported higher revenues across its business, driven by improving pricing and market conditions, with its AXA XL business on track for its targeted earnings for the year, but also gave an early estimate of exposure to recent European flooding. AXA said that its commercial li...
Reinsurance firm Swiss Re reported $1 billion of first-half profits. During the first half, Swiss Re's P&C reinsurance business suffered $521 million of catastrophe losses, largely due to winter storm Uri in the United States. Swiss Re anticipates a combined loss of around the...
Global insurance and reinsurance company Everest Re (RE) has reported a strong second-quarter of results, with its reinsurance book expanding almost 40% on a gross premium basis, but with catastrophe losses a little ahead of the prior year. Underwriting income came out at $274 million...