insurance

One of the insurance and reinsurance market’s leading catastrophe risk modelling firms, RMS, is being offered for sale by its owner DMGT.

Recent severe thunderstorms, convective weather, rainfall, flooding and a tornado that impacted Europe in June is expected to aggregate to at least a US $4.5 billion insurance and reinsurance market loss, making it the most costly episode on record.

Tropical storm and hurricane research meteorologists at Colorado State University have increased their forecast for activity during the 2021 Atlantic hurricane season, with their above-average seasonal forecast now lifted to include 20 named storms and 9 hurricanes.

In a significant step for the merger process, the European Commission has cleared insurance and reinsurance broking giant Aon’s acquisition of rival Willis Towers Watson, but with conditions attached.

Insurance claims paid from the Magnitude 7.0 earthquake that struck off the coast of the Fukushima region of Japan on February 13th 2021 have risen by another almost 16%, with the confirmed loss to the insurance and reinsurance industry now reaching above US $1.87 billion, according to the latest data from the General Insurance Association […]

U.S. specialty insurance group Assurant has lifted the top of its reinsurance tower higher for both US and Florida events, with now $1.2 billion of Florida specific coverage and $965 million covering other US events.

A new report on wildfire resilience insurance suggests that in order to help make wildfire insurance more accessible and affordable, a combined ecological forestry approach alongside parametric risk transfer could reduce wildfire losses for the insurance and reinsurance sector.

Insurance and reinsurance broking giants Aon and Willis Towers Watson (WTW) have now been granted an earlier date for the antitrust trial against the United States Department of Justice, which has objected to the proposed merger, with a November 18th start now proposed, but seemingly with no guarantees it doesn’t slip.

Reinsurance broker Guy Carpenter is teaming up with other global Marsh McLennan businesses for a joined-up approach on delivering a holistic range of climate risk focused services and advisory, part of which is risk transfer related and includes catastrophe bonds.

Tropical storm Elsa regained its hurricane status briefly overnight, as environmental conditions were conducive to some restrengthening. Now back to being a 70 mph sustained wind tropical storm, Elsa is set for a landfall over the west Florida coast.