Munich Re generated a profit of €1,154m (1,585m) in the second quarter of 2023, and €2,425m in the first six months of the year.
Author: Annie George
Hannover Re H1 Net Income up 18%
German reinsurer Hannover Re on Wednesday posted a 18% rise in net income in the first half of 2023, helped by its life and health insurance unit and investment income, and it said it was confident about meeting its full-year targets.
Inflation, High Catastrophe Losses to Lead to 2023 Underwriting Loss for P&C Industry
The overall P&C industry is forecast to finish 2023 with a net combined ratio at 102.2, nearly identical to the final 2022 result of 102.4. Poor personal lines underwriting performance is the key driver in both years, with personal auto forecast at 109.5 in 2023, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.
New York State to Debut First Cybersecurity Strategy
The state of New York will debut its first cybersecurity strategy, including plans to modernize government networks, provide digital defenses at the county level and regulate critical infrastructure.
Feds Call Attention to Maritime ‘Near Misses’
Federal officials are pushing the U.S. maritime industry to submit to the government information on incidents that had nearly resulted in vessel collisions as a way to improve safety.
New Tax Rules Can Save Homeowners Thousands on Renovations
Many Americans will save thousands of dollars on home renovations when new rebates for a range of energy-efficient upgrades kick in later this year.
Hiscox Re & ILS Segment Continues to Benefit from Hard Market in H1 2023
Hiscox Re & ILS net insurance contract written premium increased 17.9% in H1 2023 to $345.1 million, supported by robust double-digit growth in the North American natural disaster, retrocession, and marine books.
WSIA: Surplus Lines Premium Continues Upward Trend During 1H 2023
Surplus lines premium reached nearly $36 billion, and premium bearing transactions neared 2.9 million through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices.
Captive Growth Continues as Captives Outperform Commercial Market
Captive insurance companies rated by A.M. Best posted strong results for 2022, once again outperforming commercial insurers, as captive use continues to grow and broaden in response to the hard market, panelists on an A.M. Best briefing said Friday.
Kemper Announces Exit from Preferred Home and Auto Business
Kemper Corporation announced on Monday that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations.