insurance

According to a report, insurance and reinsurance giant Aon and its acquisition target Willis Towers Watson (WTW) were both “surprised” by the US Department of Justice (DoJ) filing a lawsuit to try and block their merger.

Severe storms rolled into Illinois in the last few hours, with tornado warnings were raised for the Chicago suburbs. At least one tornado touched down and has caused significant damage in the Woodridge suburb of the city.

Tropical storm Claudette is now forecast as likely to be named in the coming hours and make the first landfall of the 2021 Atlantic hurricane season, with the latest forecasts suggesting that sustained winds could near 45 mph, while torrential rain, flooding and some tornadoes are forecast for the Louisiana and inland region.

Insured losses from the Magnitude 7.0 earthquake that struck off the coast of the Fukushima region of Japan on February 13th 2021 have continued to rise and at a faster pace, with the loss to the insurance and reinsurance industry now reaching above US $1.62 billion, according to data from the General Insurance Association of […]

Australian primary insurance group IAG highlighted the potential impacts of recent severe storms and flooding in parts of Victoria, saying that the loss burden is expected to take its net natural peril claims costs over budget and could trigger its stop loss reinsurance cover.

After the US Department of Justice (DOJ) decided to sue in an attempt to block Aon’s acquisition of broking rival Willis Towers Watson (WTW), analysts at KBW said that rather than abandoning the merger, Aon is more likely to offer additional divestitures.

Reports that the US Department of Justice (DOJ) might not challenge Aon’s acquisition of rival Willis Towers Watson (WTW) have turned out to be completely false, as the DOJ has now sued to block the merger, saying it would create a “broking behemoth” and stifle competition.

Insurance and reinsurance broker Aon has announced the launch of a new Florida hurricane catastrophe risk model developed by its specialist Impact Forecasting unit, as it seeks to provide an alternative view of the risk to market participants.

Major insurance and reinsurance companies that had been pulling-back on peak US wind over recent years are being seen to stabilise their exposures in reaction to the higher-priced opportunity coastal risk presents, according to analysts and our sources.

Severe storms and flooding that impacted the Victoria region of Australia over the last week is likely to result in some reinsurance recoveries for the largest domestic insurers, with their natural hazards budgets all but used for the year.