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Inflated claims hit Geico to the tune of $487m in Q2

Berkshire Hathaway's auto insurer highlighted significant cost inflation in automobile markets

"Band-aid solutions" will not address climate change, warns Suncorp CEO

Steve Johnston made the comment as the insurer released its full-year results

Hannover Re hit by major P&C losses in H1

The reinsurer said pandemic-related expenditure is falling as expected

Insurtech funding shows signs of small recovery in Q2

Q2 funding stood at $2.4bn, having totalled $4.8bn in Q2 2021

Allianz non-life claims inflation running at about 6%, says CFO

Guilio Terzariol warns of "double digit" rate hikes in some countries in H2

CRO Forum adds space debris and climate engineering as emerging risks

Climate change and cyber risks are listed as the most pressing threats for insurers in 2022

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Hedge fund hit prompts $278m H1 loss for SiriusPoint

Losses from catastrophes and the Ukraine conflict were also cited

Irish regulator launches climate risk guidance for re/insurers

The Central Bank of Ireland says climate change is no longer an "emerging risk"

Agri Prevoyance requires recapitalising after ratio hits 114%

Agricultural industry underwriter reveals plan in SFCR

Eiopa elaborates on how insurers can consider climate change in Orsas

Own risk and solvency assessment may need "new approach", EU authority says

Secondary perils drove H1 catastrophe losses, says Swiss Re

Insured natcat losses hit $35bn, above 10-year average

More European life backbook deals likely from Axa, deputy CEO confirms

Axa XL Re H1 premiums and revenues fall as group cuts natcat risk

Insurers must deploy "new age" models to combat wildfire risk

Zesty.ai's Attila Toth said traditional methods miss the true impacts

Life policy lapses steady for now, says Generali chief

Italian insurer also quizzed on inflation rates

Direct Line chief bemoans "greater than anticipated" pricing reform impact

The UK general insurer was also severely affected by heightened inflation

CNA reveals $2.5bn LDTI hit on shareholder's equity

Using current rates for discounting would narrow decline, says CFO

Russian impairments hit Generali's H1 result

But group launches €500m share buyback

Athora seeks further Italian deals after Amissima Vita purchase

Athora's regional CEO reveals plans to deploy "substantial capital" there

The recession will be mild, says The Hartford's CEO

Market in better position to weather downturn than it was in 2008, according to Chris Swift

"Signals of change" could pressurise commercial insurers, warns KPMG

KPMG said the sector "should not stand still" in the face of challenges

Singapore watchdog plans climate stress scenarios and ISSB reporting

MAS says the measures will heighten awareness of climate risks

Globe Life anticipates up to $8.5bn drop in income from LDTI

CFO says no ratings issues from accounting shift as of now

US made up nearly two-thirds of global cat losses in H1

Insured losses of $19bn with above-average storm season due in second half

Generali and Unipol assessed for BTP exposure as Italy demoted

S&P Global Ratings has downgraded Italy's outlook to stable

GDV says BI exclusions rule out losses from state-ordered gas rationing

German insurers consider prospect of Russia cutting gas supplies to Europe

Full extent of transitional measures in Germany revealed

The measures and the volatility adjustment maintain capital adequacy for some insurers

FSOC making "considerable progress" in climate rules work

Supervisory body creates new data hub to enhance climate practices

Rising interest rates won't stymie life back book deals

Experts share the latest trends in this area with InsuranceERM

Analysis

IFRS 17: still waiting for disclosures

The IFRS 17 accounting standard is due to be implemented in five months' time, but many insurers are leaving it until the eleventh hour to reveal what impact the transition will have on their financial metrics. Christopher Cundy and Paul Walsh report

Solvency II in Germany: four insurers below 100% ratio without transitional measures

New analysis from Insurance Risk Data picks up where Eiopa left off, evaluating the use of the long-term guarantees measures in Germany, the EEA country where they are most popular. David Walker reports

The UK's Solvency II reform proposals: reactions summarised

Actuaries, US insurers, environmental campaigners have joined the UK industry in responding to Solvency II reform proposals. Christopher Cundy and David Walker report

Japan steps forward with ICS-based capital framework

Japan is midway through development of a new capital framework that takes its lead from the Insurance Capital Standard. This should make it a beacon for international prudential rules, as the FSA's Shigeru Ariizumi explains to Sarfraz Thind

Czech insurers awaken to digitalisation

Paul Walsh reports from Prague on the opportunities and risks for underwriters in the historically conservative Czech Republic market

R.I.P. traditional life insurance

Low interest rates killed off European life insurance products that offered policyholders guaranteed annual returns. Even now as rates rise, David Walker finds practitioners are ready to bury the concept

Thinking outside the box on emerging risks

Risk professionals may need to deploy more imagination if they are to address the perils that are currently going undetected. Paul Walsh reports

ALM and capital management under Hong Kong's RBC

Richard Chan, Hong Kong chief investment officer and Asia head of ALM at Axa, discusses Hong Kong's forthcoming risk-based capital regime and how insurers will respond

Insurers' hidden risk from reinsurance recaptures: the perspective of UK annuity writers

Mudi Ugono and Brad Ashton discuss the findings from a working party on how a reinsurer default could affect insurer balance sheets - and how the management of this risk could be improved

IAIS 2022: bringing the party back to insurance

June's meeting of international regulators was a sunny affair in an idyllic setting. Even the ever-lurking shadow of the ICS couldn't spoil the party after two years of isolation. Sarfraz Thind reports