Weather catastrophes were responsible for 93% of overall losses and...
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Lloyd’s CEO John Neal to join Aon as global Reinsurance CEO and chairman of climate solutions
John Neal Neal, after six years in Lloyd's as a CEO, will play an...
Wildfires rage in Los Angeles, forcing tens of thousands to flee
Numerous buildings were destroyed and nearly 3,000 acres (1,200...
SCOR and Swedish pension fund Alecta enter a strategic partnership through the Atlas Gotland sidecar
With this investment, Alecta will benefit from the performance of SCOR Global P&C’s diversified portfolio of property catastrophe reinsurance through a multi-year agreement Paris: SCOR announces that it has secured a USD 200 Million investment by the Swedish...
Lloyd’s and London market insurers tap DXC Technology to transform the world’s largest insurance marketplace
John Neal, CEO of Lloyd’s said: “With the respective commitments of DXC, Lloyd’s and the entire London market, we have the capabilities to transition to a single platform solution that will provide automated processing and accounting for the market, a substantial...
New life reinsurer “Martello Re” launched, funded by MassMutual, Centerbridge Partners and Brown Brothers Harriman
The company will initially focus on providing MassMutual and its subsidiaries with reinsurance capacity on current product offerings, after which it will offer its services selectively to other top insurers in the life and annuity space HAMILTON, Bermuda and...
‘Significant discipline’ at Jan. 1 reinsurance renewals may set tone for ’22:S&P
Retrocession capacity is becoming scarcer and more expensive, particularly at lower coverage layers and where it is offering protection against loss frequency. This is because capital markets investors who finance a large part of the market have grown weary of...
Canada opens probe into Tesla’s heating system on consumer complaints
A number of Tesla owners complained that the heat pumps are failing in extreme cold temperatures, according to Drive Tesla Canada, a Tesla news provider. The report said the heating problems happened even after Tesla early last year replaced faulty sensors in heat...
After six-week surge, Africa’s Omicron-driven fourth pandemic wave flattens: WHO
WHO Director-General Tedros Adhanom Ghebreyesus voiced concern that even though more than 9.4 billion vaccine doses have now been administered globally, 90 countries did not reach the target of vaccinating 40 per cent of their populations by the end of last year, and...
FOCUS-Life insurers adapt pandemic risk models after claims jump
Claims rose most in the United States, India, and South Africa due to the more lethal variants and a rise in fatalities or illnesses among younger and unvaccinated groups The global life insurance industry was hit with reported claims due to COVID-19 of $5.5 billion...
U.S. business fears never ending liability from ‘take-home’ COVID-19 lawsuits
The Dec. 21 ruling allowed a wrongful death lawsuit to proceed against See's Candies Inc, owned by Berkshire Hathaway, by the family of Arturo Ek of Los Angeles who died in April 2020 at 72 from COVID-19 As COVID-19 cases surge in the United States, businesses say...
Renewable energy growth creating increased demand for transition plans:WTW
“The renewable energy industry is transforming at a speed which can be difficult to track. This can be seen in the record growth in solar PV and wind capacity additions - beating previous year’s record, as well as the increasing interest from insurers in offshore wind...
Universal health care bill advances in California Assembly
first step toward abolishing the private health insurance market in the nation’s most populous state and replacing it with a government-run plan that they promised would never deny anyone the care they need SACRAMENTO, Calif: California Democrats on Tuesday took their...