Market News
Four Major European Reinsurers See Profits Decline in First Quarter
The four major European reinsurers—Munich Reinsurance Company, Swiss Reinsurance Company Ltd., Hannover Rueck SE, and SCOR SE—all reported a decline in profits during the first quarter of 2022 that varied widely due to company specifics, according to Fitch Ratings. Read More
Inflation, Litigation, Cyber Attacks Cited as Premium Increase Drivers
Continuing increases in commercial insurance prices are largely the result of economic inflation, social inflation, and cyber attacks, according to a recent report from the American Property Casualty Insurance Association (APCIA). All three of those factors are outside of insurance companies' control, according to the report. Read More
High Rates of Inflation Likely To Pressure Property-Casualty Insurers' Profitability
Property-casualty insurance companies are likely to face headwinds to their profitability due to persistent high rates of inflation, two new reports suggest. While the full impact of inflation on the global insurance industry has yet to be determined, higher inflation creates multiple challenges for insurance companies. Read More
Global InsurTech Investments Continue at Robust Pace
Global InsurTech funding dropped in the first quarter of the year from the record level it reached during the last 3 months of 2021, though it still stood at a robust $2.2 billion, according to the inaugural "Gallagher Re Global InsurTech Report" for Q1 2022. Read More
Guernsey Finance, GIIA To Appoint an Insurance Business Representative
Guernsey Finance and the Guernsey International Insurance Association (GIIA) are looking to appoint a dedicated business development representative for the insurance sector. The move would be a departure from the way Guernsey Finance typically partners with industry to promote Guernsey's financial services to the world. Read More