Commercial property rates fall: CIAB
Average commercial insurance rate increases slowed to 1.6% in the third quarter from 3.7% in the second quarter, according to the latest pricing survey from the Council of Insurance Agents and Brokers.
Axa XL promotes Malone to U.S. head of cyber
Axa XL said Monday it promoted Rob Malone to U.S. head of cyber, effective immediately.
Lockton Re names U.S. casualty product leader
Lockton Re said Monday it named former RenaissanceRe executive Mike McCann as U.S. casualty product leader.
Net incurred asbestos losses and costs jump 29%: S&P
The U.S. property/casualty insurance industry’s net asbestos liability reserves declined again last year, even as net incurred asbestos losses and loss adjustment expenses jumped by 29%, S&P Global Market Intelligence said Monday.
Construction companies, insurers face similar challenges: Worman
The insurance and construction industries face common challenges, and risk managers, brokers and insurers should collaborate to tackle them, said Douglas Worman, president and CEO of CNA Financial.
US appeals court to weigh reviving cases over Tylenol and autism
A U.S. appeals court is expected to hear arguments on Monday from families seeking to revive their lawsuits over Tylenol, after the Trump administration publicly promoted their claims that the popular painkiller is linked to autism in children.
Tesla wins bid to undo race bias class action by Black factory workers
A California state judge has ruled that 6,000 Black workers at Tesla’s flagship assembly plant cannot sue over alleged racial harassment as a class, reversing an earlier ruling in a major victory for CEO Elon Musk’s electric vehicle maker.
Lower cat losses fuel Swiss Re’s net income surge
Switzerland-based Swiss Re Ltd. recorded more than $4 billion in net income for the first nine months of 2025, up 85% from a year earlier and driven by a relatively benign year for natural catastrophes round the globe, Artemis reported. The property and casualty reinsurance operations saw a 278% jump in net income to $2.3 […]
Cyberattack costs Jaguar Land Rover $220 million
U.K.-based Jaguar Land Rover Ltd. reported that a recent cyberattack cost the firm 196 million British pounds ($220 million) in the quarter ended Sept. 30, BleepingComputer reported. The Sept. 2 cyberattack forced the British carmaker to shut down production at major plants for weeks and caused severe liquidity issues for some of its suppliers, subsequently […]
Marine insurers hit by rising GPS jamming claims
Singapore’s marine insurers are facing higher costs as GPS spoofing and jamming incidents spread across major shipping lanes, pushing shipowners to adopt stronger cyber security and prompting underwriters to rethink how they price digital risk, according to Lars Lange, secretary general of the International Union of Marine Insurance, Insurance Asia reported. The Singapore Shipping Association’s […]
Allianz posts record $15 billion operating profit
Germany-based Allianz SE posted an operating profit of 13.1 billion euros ($15 billion) for the first nine months of 2025, its highest nine-month result on record, Reinsurance News reported. Property-casualty operating profit for the first nine months grew to €6.9 billion from €6 billion and the combined ratio improved to 91%.
Beazley seeks $100 million in nat cat bonds
U.K.-based Beazley plc is seeking $100 million in natural catastrophe reinsurance bonds, Artemis reported. The notes will collateralize a multi-year reinsurance agreement covering property losses from named storms and earthquakes in the U.S., Canada and parts of the Caribbean. It provides indemnity, per-occurrence protection attaching at $900 million in losses and exhausting at $1.2 […]
Aviva’s premiums charge higher
U.K.-based Aviva plc posted a 12% year-on-year increase in general insurance premiums to 10 billion British pounds ($13 billion) for the first nine months of 2025, Life Insurance International reported. Premiums in the U.K. and Ireland rose 17% to £6.7 billion, with commercial lines up 10% on new business and contributions from Probitas Holdings (U.K.) […]
Growing conflicts, cyber threats hit marine war risk market
London-based Willis Re Ltd. says the marine war risks market is being reshaped by escalating geopolitical conflict, cyber interference and rising accumulation exposures, Reinsurance News reported. The firm cites attacks and disruptions across the Strait of Hormuz, South China Sea, Red Sea and Black Sea, along with spoofing operations that blur physical and digital warfare.
IRB Brasil’s net income jumps 39%
IRB Brasil Resseguros SA saw net income for the first nine months of the year rise 39% to 361 million Brazilian reals ($68 million), while written premiums fell 10% to BRL4.5 billion, Reinsurance News reported. In the third quarter, net income dropped 15% to BRL99 million, and written premiums declined 11% to BRL1.9 billion.
Black Sea port attack halts 2% of global oil supply
Russia’s Black Sea port of Novorossiysk temporarily halted oil exports equal to 2.2 million barrels per day, or 2% of global supply, after a major Ukrainian missile and drone strike that damaged berths, a tanker and port infrastructure, Hellenic Shipping News reports, citing Reuters. The attack also forced Russian pipeline oil monopoly Transneft PJSC to […]