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Connecticut passes new captives legislation

US state will allow captives to convert 'protected cells' into full captive insurers

United States Regulation

Severe convective storm season of 2023 ‘not an outlier’: KCC

Active 2023 storm season led to above-average insured losses, but these were not extreme, catastrophe modeller says

United States Climate change

Flood Re profits fall on record claims

Storms Babet and Henk caused the ‘most material’ floods since the scheme’s inception

United Kingdom Property

H1 insured losses 25% above 10-year average: Gallagher Re

Reinsurance broker tallies $61bn of insured losses in the first six months of 2024, driven by severe thunderstorms

International North America

Jamaica to receive $10m Beryl payout from CCRIF

Country to make recovery under excess rainfall policy with the Caribbean insurance facility in addition to payout under parametric tropical cyclone policy

North America Property

Progressive's Q2 income quadruples

US motor and home insurer's combined ratio improves 8.5 points to 91.9% in second quarter

North America Property

Chubb appoints Kelaher to lead Europe and Mena

Insurance giant promotes Australian and New Zealand country president following departure of Sara Mitchell

Asia Pacific Europe

P&C premiums to rise 3.3% in 2024: Swiss Re

Hard market will continue into next year, with personal lines stronger than commercial, reinsurance giant forecasts

International Swiss Re

US Beryl losses could reach $4.5bn: Moody’s

Non-US insured losses not expected to exceed $1.5bn, modelling firm estimates

United States Property

Beryl threatens to halve TWIA's $450m catastrophe fund

Texas Windstorm Insurance Association committee advises 10% rate hike

United States Property

Louisiana cuts premiums charged by last resort insurer

Legislature acknowledges need for ‘temporary rate relief’ as its suspends 10% penalty charge on Citizens policies until end of 2027

United States Property

Allstate requests 34% homeowners' rate hike in California

US giant seeks approval from regulators for huge rate hike amid continued strain in wildfire-hit state

United States Property
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