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Author: Awais
The insurance-linked securities (ILS) fund sector began 2026 with an above-average January, as the average return across ILS funds tracked by the ILS Advisers Fund Index stood at 0.71% for the month.This despite an active month of secondary peril related weather losses, as severe winter weather and storms in the United States, and rainfall related flooding in Europe were seen as drivers of insured losses. For the ILS market though, direct impacts from these events are expected to be relatively minimal. ILS Advisers commented, “While these events are not expected to impact the cat bond market, they highlight the growing…
While competition in personal auto insurance is rising to levels high enough to dent customer retention at GEICO, a giant mutual insurer and a reciprocal exchange have both tapped into a customer-friendly option unavailable to large stock insurers. State Farm and USAA recently announced multibillion-dollar policyholder dividends that are “historically large” for the industry and the companies, S&P GMI noted in a research note this week. “These dividends, unique to mutual and reciprocal exchange business models, aim to enhance customer retention amid rising competition,” S&P GMI said. State Farm is set to return $5 billion to policyholders via dividends, the…
Marine insurers in the London market continue to offer cover in the Middle East, despite rising war risk premiums driven by escalating conflict in the Gulf, insurance broker Gallagher’s Marine Divisional Director Angus Blayney said on Wednesday. Rates have increased depending on vessel type, cargo and routing, Blayney said, as round-the-clock attacks by U.S. and Israeli forces on Iran, and Tehran’s retaliatory missile and drone strikes, show no sign of abating. The Strait of Hormuz, a critical oil export chokepoint linking Gulf producers such as Saudi Arabia, Iran, Iraq and the United Arab Emirates to the Gulf of Oman and…
An oil tanker suffered an explosion off the coast of Iraq, damaging a tank that is losing water, a representative for the ship said. The Sonangol Namibe was approached by a small boat near Khor Al Zubair in Iraq, according to Sonangol Marine Services. A short time later a loud bang was heard and the crew said the ship is losing water from a ballast tank — a compartment designed to help with the vessel’s stability. The company said there are no reports of any pollution and there was no cargo on board. A UK Naval group earlier reported that…
A devastating first half gave way to a stunning recovery
As the war in Iran grounds flights worldwide, hundreds of thousands of travelers scrambling to get home are discovering a harsh reality: their travel insurance won’t cover replacement flights or extended hotel stays. Insurers, including industry giants Allianz SE and Zurich Insurance Group, don’t cover claims tied to the conflict under standard travel policies, according to advisories. Fighting has shuttered Gulf airports, including the main one in Dubai, severing a critical transit corridor for long-haul travel. At least 23,000 flights to Middle East hubs have been canceled, leaving passengers to rely on airlines for rebooking or pay thousands of dollars…
American Family Insurance reported $2 billion more underwriting profit in 2025, compared with 2024—pointing to “deliberate customer-driven strategic actions and a lower level of catastrophe losses to explain the favorable result. The actions meant declines on the top line, the Madison-Wisc.-based mutual holding company reported Monday, also reporting lower customer retention. In a media statement, American Family reported that a net underwriting gain of $2.6 billion in property/casualty lines for 2025, compared to a net underwriting gain of $603 million in 2024, driven primarily by reduced catastrophe and non-catastrophe losses year-over-year. The combined ratio improved 12 points to 84.6 in…
Marsh and Aon Plc, two of the world’s largest insurance brokers, are in talks with the US government on a plan to help insure tankers navigating the Strait of Hormuz energy chokepoint. President Donald Trump said on Tuesday the US International Development Finance Corporation would offer insurance “at a very reasonable price” to help ensure the flow of energy and other commercial trade in the Gulf. “We have spoken with the DFC earlier today and offered our assistance with the potential facility,” said Marcus Baker, global head of marine and cargo at Marsh. He added that it “might take a…
A state court judge in Missouri gave an initial green light on Wednesday to a proposed $7.25 billion settlement to resolve thousands of lawsuits claiming Bayer’s Roundup weedkiller causes cancer. Judge Timothy Boyer in St. Louis granted preliminary approval to the deal struck between the German company and attorneys seeking to represent a nationwide class of people who say Roundup exposure caused their non-Hodgkin’s lymphoma. The deal is aimed at resolving most of the roughly 65,000 remaining claims pending in federal and state courts. Boyer rejected a request by other lawyers who asked that he hold off to give them…
Mariner also added a property and casualty risk advisory in Kansas
Catastrophe bond market yields remained flatter than anticipated through February as expected seasonal spread widening proved less pronounced given the continued price pressure from new primary cat bond issuance that is coming to market at lower premiums, data from Plenum Investments shows.The overall yield of the catastrophe bond market ended February 2026 at 8.91%, as cat bond risk spreads moved higher slightly during the month. But that is only marginally higher than the end of January figure of 8.87%, while more typically a stronger increase might have been expected given expected season trends for spreads to become more consistent in…
The lawsuit states that on December 10, 2025, the appraisal umpire issued an award for the dwelling loss, setting reconstruction at a “Base Award Total” of $3,050,000 plus $610,000 for General Contractor Overhead and Profit, labeled “Paid When Incurred.” Chubb later paid the base amount for reconstruction but not the $610,000, the Sabris say.
Growth stabilizes as discipline and data redefine specialty property