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Weather disaster losses account for higher share of national income in 13 countries, Munich Re finds

Munich Re research published to coincide with COP 31 in Türkiye has found that weather-related disaster losses accounted for a higher average share of national income in 13 of the 20 countries studied over the past decade than in the first decade of the analysis. The global reinsurer compared losses from weather-related disasters, including floods,…

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AM Best identifies signs of recovery in US commercial motor insurance market

AM Best, an international credit rating agency specialising in the insurance sector, has identified improving underwriting results in the US commercial motor insurance market, following several years of sustained financial pressure. In its latest Best’s Market Segment Report, the agency highlights a reduction in annual underwriting losses and further improvements during the first half of…

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Cat loss accumulation could test LatAm insurers’ resilience, says MS Re’s Castagnino

The accumulation of catastrophe losses across Latin America and the Caribbean could erode insurers’ retentions, earnings and capital, while prompting reinsurers to reassess pricing and capacity, according to Lucas Castagnino, CUO Latin America and the Caribbean at MS Reinsurance. Speaking to Reinsurance News, Castagnino warned that multiple events affecting the same portfolios were testing reinsurance…

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US reciprocal insurance exchanges expand as property insurance pressures drive growth, ALIRT finds

The US reciprocal insurance exchange market has experienced significant growth in recent years, driven by property insurance affordability and availability challenges in catastrophe-exposed regions, according to a new report from ALIRT Insurance Research, a US-based insurance financial research and analysis firm. ALIRT estimates that 84 active “pure” reciprocal insurance exchanges operated in the US at…

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