The average annual motor insurance premium charged in the first quarter of this year was in the range of CNY1,000 ($147) to CNY3,000, according to the 1Q2022 quarterly solvency reports filed by 59 property insurers as of 9 May. More specifically, the average auto premium for the 59 companies amounted to CNY2,015.
Over 80% of 155 insurance companies in China that have released their 1Q2022 solvency reports show a decline in solvency ratios as of 31 March 2022 compared to levels in 2021.
One in 25 Australian properties will be effectively uninsurable by 2030 due to rising risks of extreme weather and climate change according to a new analysis by the Climate Council of Australia.
The global offshore energy and shipping sectors are under greater than expected threat from climate change as extreme weather becomes more commonplace, according to a new report by the speciality (re)insurance group Chaucer.
The global digital fraud rate decreased in the first quarter of 2022 with suspected online fraud attempts declining by 22.6% from the first quarter of 2021 according to TransUnion's quarterly digital fraud analysis.
The average ransom paid in ransomware attacks in 2021 increased fivefold as compared to 2020 according to the annual survey the State of Ransomware 2022 by cyber security firm Sophos.
Adapting to remote working due to the pandemic and the subsequent sudden shift in culture and business practices, particularly the employee/employer relationship dynamic, has presented new challenges to boardroom decision making.
Eleven InsurTechs have joined the eighth cohort of Lloyd's lab programme. This global programme brings together InsurTechs, insurers and brokers to test out new, innovative solutions and create insurance products to address the issues and challenges facing the Lloyd's market.
Resolution Insurance has collapsed with over KES6.5bn ($56m) of clients' funds, nearly nine years since the last underwriter, Concord Insurance, collapsed in 2013.
Qatar General Insurance & Reinsurance Company (QGIRC), among the top insurers in Qatar, has a track record of adequate underwriting profitability, demonstrated by a five-year (2017-2021) weighted average combined ratio of 99%, states AM Best.