Guy Carpenter's terrorism model, Sunstone, is global and reflects the full spectrum of attack types. To improve the impact of terrorist atacks assessment across a large portfolio, the company is developing a 3D cityscape blast modeling tool that provides for a detailed representation of central business districts.
SCOR has been informed of the decision by Standard & Poor's (S&P) to affirm the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook", and to maintain the counterparty credit ratings at "AA-/A-1+".
Xceedance announced the availability of On-Demand Catastrophe Modelling Services, using the Oasis Loss Modelling Framework (Oasis LMF).
Munich Re offers its clients two new services that make claims settlement easier for insurance companies, in the natural hazards area. The new services address wildfire and hurricane damage claims.
AIR estimates that the global modeled insured average annual loss from catastrophes worldwide is about USD 92 billion, according to 2019 Global Modeled Catastrophe Losses report.
The insurance industry continues to face the challenges of surplus capacities and historically low interest rates. Prices and conditions have nevertheless taken an appreciably more pleasing turn in 2019 compared to just one year earlier, is Hannover Re's opinion.
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Dorian's impact to the Caribbean will range from 1.5 billion USD to 3 billion USD.
Reinsurance rates have taken a slightly ascending path overall, but the trend is more visible in some regions as the pricing cycles' characteristics have changed, becoming more geography sensitive than in the past, a panel of experts have explained speaking at the S&P Global Ratings' Annual Reinsurance Roundtable at Monte Carlo.
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market.
The world economy is less resilient now than in 2007 at the onset of the global financial crisis, according to the new Macroeconomic Resilience Indices jointly developed by Swiss Re Institute (SRI) and the London School of Economics (LSE).
The 63rd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Vienna Insurance Group (VIG) starts operating in Sweden, Norway, Denmark and Finland. A locally established team of VIG underwriters will be offering insurance solutions to corporate customers through brokers, the Austrian group has announced.
SCOR has presented in Paris, at its annual Investor Day, the group's new strategic plan, "Quantum Leap". The plan runs from July 1, 2019 to until December 31,2021 to coincide with the new IFRS 17 accounting standard that the Group will implement effective January 1, 2022.
Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market.
According to The Motor Insurers' Bureau of Latvia (LTAB), for the first half of 2019, the average MTPL indemnity was EUR 1,068, about 29% higher than the average MTPL claim from the first half of year 2016 (1H2016: EUR 826).
As of September 1, 2019, the limits of insurance indemnity for accidents, documented without traffic police, have increased from EUR 400 to EUR 800 in Belarus, the BELTA news agency informs.
Regulators of the Ukrainian financial market are inviting financial market participants, experts and international partners to discuss a new development strategy until 2025, Forinsurer reports.
The total number of MTPL e-policies issued in Ukraine between February 7, 2018 (the date on the system introduction) and to September 1, 2019, reached 768.2 thousand, data of MTIBU (Motor (Transport) Insurance Bureau of Ukraine), quoted by Forinsurer, show.
Between January - July this year, Kazakh insurers paid KZT 16.7 billion (~EUR 39 million) in the most popular individual insurance class, MTPL, which is 18% more y-o-y, according to Allinsurance.kz.
Insurance companies from Kosovo were exempted from paying the tax of 5% on turnover, including the 1% share that was redirected to the Red Cross of Kosovo.