2018 therefore ranks among the ten costliest disaster years in terms of overall losses, and was the fourth-costliest year since 1980 for the insurance industry.
The Insurance Insider Cyber Rankings Awards second ceremony dedicated to cyber risks will take place on 21 September, 2018, in London.
New issuances of insurance-linked securities totaled $7.31 billion in the first half of 2018, compared with $8.4 billion in the first half of 2017, according to a report Wednesday from Swiss Re Ltd.
American International Group Inc. cut back on unprofitable lines of business and bought more reinsurance protection during the fourth quarter last year as the new management team continued its efforts to turn the insurer around.
Munich Re estimates that global insured losses for 2017 will total US$135 billion, due in large part to hurricanes Harvey, Irma and Maria, and the earthquake in Mexico.
Hackers tried to steal 55 million roubles ($940,000) from Russian state bank Globex using the SWIFT international payments messaging system, the bank said on Thursday, the latest in a string of attempted cyber heists that use fraudulent wire-transfer requests.
Chubb Ltd has entered into a ten-year strategic co-operation agreement with China’s largest property and casualty insurance company.
Reinsurers are continuing to diversify their portfolios as they look to improve underwriting performances, according to a half-year market report from Willis Re.
Accounting giant EY said Wednesday that it plans to launch the first blockchain platform for marine insurance, alongside Microsoft, A.P Moller-Maersk and others.
AM Best has maintained its negative outlook for the reinsurance sector, which continues to face a tough operating environment.
As Harvey moved inland after making landfall over the Texas Gulf coast a week ago as a Category 4 hurricane, catastrophe modeling firms and analysts estimated insured losses of more than $15 billion.