Dawn Miller

In the face of devastating hurricanes like Helene and Milton, partnership between public, private and not-for-profit sectors is essential. https://lnkd.in/e9Gx_XcW At a recent roundtable hosted by the US Department of Treasury, Daniel Kaniewski spoke to the need for linkage between risk transfer and risk reduction in order for communities will be better able to withstand, and more rapidly recover from, disasters. Learn more. #insurance #risk

2

Our results for the first nine months of 2024 reflect our focus on enhancing the overall resilience of the Group.   Last week, we announced decisive increases to our prior year US P&C Re liability reserves. Thanks to these actions, we have reached our goal of positioning overall P&C reserves at the higher end of the best-estimate range.   And despite the weight of those increases, today we reported a small profit for the third quarter. Outside of the reserving actions, this result was driven by disciplined underwriting – which has helped the business to successfully navigate a third quarter with increased natural catastrophe activity – and recurring investment income.   Assuming normal loss activity for the rest of the year, we expect to achieve a Group net income of more than USD 3 billion for 2024.   Thank you to our clients for their continued trust, and to all of our employees for their hard work and commitment. https://lnkd.in/g8jDJ-X7 Swiss Re

1,066

16 Comments

Marsh has been benchmarking captives for more than 15 years, and our latest evolution in captive analysis is a technology tool called Policy Engine, which allows for even deeper insights. Stay up to date with us as we continue to evolve our analysis and discover insights we’ve never had access to before.  To learn more, please visit bit.ly/4eKZnVF #insurance #riskmanagement

13

*** Allianz Partners becomes the First Foreign Reinsurer to launch operations in GIFT City *** From the media release: "Allianz Partners, ⭐a world leader in Insurance and Assistance services,  ⭐proudly announces the launch of its IFSC Insurance Office (IIO Reinsurance Branch) ⭐in GIFT City, Ahmedabad, ⭐marking a significant milestone in its strategic expansion efforts in India. The IIO ⭐is a reinsurance branch of AWP P&C S.A. ⭐a group entity of Allianz Partners headquartered in Paris, France, ⭐that aims to transform the reinsurance landscape in India with its B2B offerings. Mr. Vinay Surana, Managing Director - Asia Pacific, Middle East & Africa at Allianz Partners, said, "We are delighted to announce ⭐the launch of our Reinsurance Branch Office in GIFT City, Ahmedabad, India. ⭐This transformation marks a pivotal moment in our journey as we enhance our services, set new industry standards, and strengthen our leadership position in the market.” Mr. Tapan Ray, MD & Group CEO, GIFT City, said, “The launch of Allianz Partners Reinsurance Branch in GIFT City reflects our shared vision of creating a thriving ecosystem for financial services in India. ⭐This collaboration reinforces GIFT City's position as an attractive destination for international players, ⭐driving growth and innovation in the reinsurance sector. ⭐Allianz Partners' presence in GIFT City not only strengthens our global connections ⭐but also highlights the city's strategic advantages and business-friendly environment." Speaking on the occasion,  Charu Kaushal, CEO at Allianz Partners India remarked, ⭐"We take immense pride in being among the pioneers to establish a reinsurance branch in GIFT City. ⭐This marks a step in expanding our business within India, as we strive to implement a comprehensive strategy tailored to the dynamic needs of the market. ⭐Our priority is strengthening reinsurance and insurance solutions in the non-life sector." The branch aims to cater to diverse customer segments encompassing ⭐B2B, ⭐Reinsurance, ⭐Travel, and ⭐Mobile Device and ⭐Digital Risk. Situated within the GIFT City, Special Economic Zone (SEZ), the office leverages the benefits offered by the SEZ, including ⭐import-export advantages and ⭐tax exemptions. #insurance #insurancenews #apac #india Allianz #allianz #reinsurance https://lnkd.in/g7DRmkay

52

SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, seeking $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance.

23

The impending impact of Hurricane Milton on the catastrophe bond ("cat bond") market presents a fascinating paradox. On one hand, the potential for substantial losses could shake investor confidence and temporarily disrupt the insurance market. On the other hand, this very disruption might underscore the critical role of cat bonds in risk management, potentially driving greater demand in the long term. As climate change intensifies the frequency and severity of such natural disasters, the resilience and adaptability of financial instruments like cat bonds will be crucial. Will the market's response to Milton be a testament to its robustness, or will it reveal vulnerabilities that need addressing? This scenario not only tests the financial mechanisms in place but also our collective preparedness for an increasingly volatile future!

4

Market converging on ‘negative’ view of US casualty: Scor’s Conoscente http://spr.ly/6041WZFUF #InsuranceInsidernews #insurance #reinsurance

1

The number of home-grown French captives has grown quickly since France adopted new rules a year ago and there are more in the pipeline, but there is room for improvement in the local captive marketplace and the approval process, experts told Commercial Risk Europe. They say that the market for services demanded by current and future captive owners in France remains a work in progress. Meanwhile, supervisory bodies are still learning how to deal with the proliferation of new reinsurance captives, they add. 👉More... https://ow.ly/kb1i50TuIyb #captives #Frenchcaptives

1

A key topic to support growing the Life protection market! See article from my colleague Jeremy Lane

19

Rapid exposure growth and inflationary pressures mean insurers should now expect average annual catastrophe losses of $151bn, according to the latest Verisk Extreme Event Solutions study... https://lnkd.in/ggwCcqSb #ReinsuranceMonth #insurance #insurancemarket #insurancenews

4

In AXA’s latest Integrated Report "Unlock the Future", we're excited to shed light on AXA's vision, initiatives … and ambition for inclusive insurance. We started the journey by launching across AXA’s emerging market footprint to serve the protection needs of un(der)served populations. There are similar needs in mature economies where there’s a growing tendency to neglect or reduce/arbitrate against insurance coverage due to a lack of information or resources - or both. In emerging markets, AXA’s inclusive insurance business aims to offer protection to low income / mass market populations with irregular, unpredictable, volatile incomes, who represent 70% of the active population. These solutions are designed to be accessible, affordable and suited to the specific needs of these customers, their families and their work, covering health & protection, property & casualty, as well as climate-related risks. In Europe, our goal is to target micro-business owners, young retirees, employees with modest incomes, and modest youth, with adapted insurance products, simper, more transparent, more affordable, easy to access. The lower middle class, that earns 60-90% of the median income of any given market represents 25% of the active population and this number is unfortunately growing due to the many headwinds these economies have been facing. Today, we are providing an inclusive insurance coverage to over 14 million customers. Our aim is to reach 20 million by 2026, covering both emerging countries and European markets. ➡ https://lnkd.in/dW9rW3yk Stay tuned to see the next steps! George Stansfield Patrick Cohen Guillaume Borie Mirjam Bamberger Hassan El-Shabrawishi Gordon Watson Sally O'Hara Alice Holzman Celine Callard Quentin Gisserot Laura Elena Rosado Michal Matul Solene Boutoille Nadia Boughaba #InclusiveInsurance #AXA #UnlockTheFuture #IntegratedReport  

127

6 Comments

It's always good to get an extra layer of insight behind insurers' financial results - thanks to Hiscox's Joanne Musselle for talking me through the headwinds impacting its London market operations. Read the full article on Insurance Times... #insurance #insuranceindustry #insurancenews #UKGI #b2b #insurer #insurers #financial #financialresults #London #Londonmarket #interview

2

I'm excited to join the leadership of African Risk Capacity Ltd. and the other Regional Risk Pools at the Understanding Risk (UR) Global Forum in Himeji, Japan, from 19 to 21 June 2024. Don’t miss these crucial conversations and the opportunity to learn about the trends and challenges shaping our future! #ClimateResilience #ARC #RiskManagement #FinancialResilience #Himeji #ARC

22

1 Comment