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News

Revise scope for IFRS 17 and 9 mismatch fix, say European insurers

Insurance Europe also asks IASB to clarify disclosure requirements

Turab Hussain becomes AIG's CRO for general insurance

Hussain was previously chief risk and actuarial officer at PartnerRe

European Commission to mandate climate scenario analysis in Solvency II

Leaked plans reveal review of sustainable asset charges due in 2023

Prioritise IFRS 17 and 9, European insurers tell IASB

Insurance Europe responds to IASB's five-year plan

Aviva names Andrea Montague group CRO

Jan-Hendrik Erasmus had been Aviva's group CRO until July, but has since left the insurer

Hungarian court backs veto on M&A between VIG and Aegon

VIG plans to appeal the latest ruling

Lloyd's CEO: "this is our moment" to boost societal impact

John Neal reiterated "we're not nasty bankers"

UK life insurers maintained strong capital positions in H1

Insights from Insurance Risk Data and Fitch Ratings on the UK life insurance sector during H1

Brits brand the EU's IFRS 17 annual cohorts proposal "very negative"

UK's accounting experts give preliminary views on IFRS 17 endorsement

Crypto insurer Breach appoints CRO

Jim Flinn hired from American National Group

KCC expects $950m insured loss from hurricane Nicholas

Nicholas made landfall as a category 1 hurricane in Texas earlier this month

Willis Towers Watson unveils eight-step climate action plan for insurers

The broker, and asset manager Wellington, have produced a climate risk guide for the sector

Find out about the US stance on the ICS regime

All will be explained at InsuranceERM's Americas virtual conference on 22-23 of September

UK delays IFRS 17 endorsement

UKEB was due to publish its final endorsement decision in February 2022

EU insurers fall agonisingly short of pre-pandemic solvency at Q1 2021

Italian insurers stand out at 22 percentage points above Q4 2019 levels

Generali announces takeover bid for Cattolica

Generali already owns 24% of its smaller Italian peer

Give us clarity on climate risk best practice, general insurers say

LCP polled non-executive directors from general insurers on climate change

RMS increases Ida insured loss estimate to $31bn - $44bn

The catastrophe risk modeller's previous estimate was for the Gulf of Mexico region alone

Just Group slashes debt costs with first sustainable RT1 bond issue

UK life insurer pioneers "green" contingent convertible debt

Insurtech weekly: Envelop Risk, Marshmallow, Vouch, Scor, Sproutt, Porch, Previsico

InsuranceERM rounds up the latest fundraisings and launches from the world of insurtech

International tax reform challenges Ireland's insurers

Key findings from PwC and Insurance Ireland survey

UK government refuses to intervene in LV demutualisation plans

"A matter for regulators and courts", says John Glen MP

Smaller pension risk transfer deals crowded out of the market

LCP says insurers are increasingly focused on larger transactions

Covid-19 prompts unprecedented capital influx to insurtechs

Capgemini report says insurtech products offer more convenience, advice and reach

Cyber loss ratios expected to decline as rates rise

Fitch's Gerry Glombicki says insurers are focused on cyber policy language

Insurance "might disappear and be part of a bigger package"

Scor CEO outlines trend towards embedded insurance

NYDFS cites resource constraints in monitoring insurers' climate work

Regulators still exploring how to rule on insurance climate policies

Prudential Financial offloads $31bn in variable annuities to Fortitude Re

Latest divestment accounts for 17% of the insurer's annuity book

Bill for storm Bernd keeps rising

German re/insurers' update to regulator reveals escalating claims

UK insurers face "hard yards" to implement operational resilience rules

Oric and Sicsic Advisory's readiness survey reveals mixed progress towards March deadline

Analysis

RVS 2021: Emerging risks start shifting beyond climate and cyber

Re/insurers at this year's virtual Rendez-Vous de Septembre (RVS) event began to take a more holistic view when discussing emerging risks. Paul Walsh reports

Dive In 2021: regulators spur action on diversity and inclusion

As the annual Dive In Festival, designed to promote diversity and inclusion in the insurance sector, gets underway, Paul Walsh finds financial regulators are adding their weight to the agenda

Climate risk enables insurance technology to blaze a trail

Acute regulatory, shareholder and consumer pressure on climate change is fuelling increasing demand from insurers for technology to assess the impact of climate risk. Ronan McCaughey explains how insurance software vendors are responding to the challenge

Social inflation: 800lbs gorilla or 80lbs monkey?

Casualty insurers are complaining about rising liability losses, driven by a litigious US culture and changing social attitudes. But could a far worse catastrophe be ahead of them? Sarfraz Thind reports

Insurers need innovative solutions to address climate change risks

Willis Towers Watson's Adhiraj Maitra and Matt Scott tell Cintia Cheong how innovation helps insurers understand climate change risks and why regulators are not the only stakeholders pushing for better risk management

Maurice Perkins: Transamerica's transatlantic negotiator

Transamerica's global head of government and policy affairs talks to Sarfraz Thind about US and international insurance regulation, Biden's tax reforms and the cultural differences that keep his job interesting

Saudi Arabia embraces IFRS 17 for insurance transformation

IFRS 17 in Saudi Arabia is a story of right time, right place - and the Middle East's largest economy is powering ahead to ensure the standard can transform the country's insurance sector. Ronan McCaughey explains

Talcott Resolution's Chris Abreu: handpicking the way to successful risk management

Paul Walsh talks to chief risk officer Chris Abreu to discuss the US life insurer's separation from The Hartford, the influx of private equity capital and the impact of Covid-19 on risk management

UN climate report: insurers ready to drive radical change

Paul Walsh rounds up reactions from insurers, trade associations and industry experts to the findings of a landmark United Nations (UN) climate report - described as a "code red for humanity".

CyberAcuView's Mark Camillo: cyber data collection first, policy influence next

Major insurers are backing CyberAcuView's efforts to collect cyber claims data and act as a focal point for the industry's engagements with law enforcement, regulators and law makers. Paul Walsh talks to its chief executive Mark Camillo