Lloyd’s: Stable Reinsurance Market Balance for 2022
Supply chain cyber attacks are on the rise, with a significant increase of 5 times over recent years. This trend is causing concern in the insurance industry, where such attacks are being compared to the impact of ransomware.
Britannia P&I is planning to request a minimum rate gain of 7.5% from its members in the coming year. This move reflects the challenges faced by the reinsurance sector as it navigates changing market conditions.
According to Zurich’s Greco, the property market may appear stable, but it is far from worry-free. This perspective highlights the need for caution and vigilance in the insurance industry.
Zurich is focusing on targeting mid-market and specialty areas as part of its commercial growth strategy. This strategic approach aims to capitalize on specific market segments for sustained expansion.
Deutsche Rück has appointed an international head to take on the role of CEO, signaling a shift in leadership for the reinsurance company. This decision reflects the company’s commitment to global growth and diversification.
Tokio Marine has reported a 14% increase in half-year profits in the global non-life insurance sector. This positive financial performance demonstrates the company’s resilience and competitiveness in the market.
As the insurance industry braces for market fluctuations, Lloyd’s is set to tighten regulations on delegated authority books. This proactive measure aims to enhance risk management practices within the sector.
In a strategic move for expansion, Howden has made a significant acquisition by swooping in on Miller. This bold decision underscores the company’s commitment to growth and diversification within the industry.
S&P Global predicts that global cyber insurance premiums could reach $23 billion by 2026, highlighting the increasing importance of cyber risk management in the insurance sector.
Aviva is reportedly considering a bid for Direct Line, with industry experts suggesting that the company has a strong case and is offering a reasonable price for the acquisition. This potential deal would have significant implications for the insurance market.
CEA has decided not to renew a $511 million reinsurance treaty, signaling a shift in reinsurance strategies within the industry. This decision reflects evolving market dynamics and risk management practices.
Gallagher has appointed an ex-Allianz veteran as the chair of Pen Underwriting, a move aimed at strengthening the company’s leadership and expertise in underwriting practices.
PIB Group has acquired a Dutch broker as part of its European expansion strategy, demonstrating the company’s commitment to growth and diversification in the insurance market.
