Artemis has learned that FEMA has increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, raising the figure to $6.75 billion and as a result two FloodSmart Re catastrophe bond tranches have had their maturity dates extended, with partial repayments of principal to be made.The U.S. Federal Emergency Management Agency’s (FEMA) … Read more
The softening of the property catastrophe reinsurance market seen at the key January 2025 renewals has been “entirely rational”, according to broker Gallagher Re, despite the fact the decline in risk-adjusted pricing was greater than many reinsurers had planned for.Catastrophe loss-free property reinsurance treaties declined almost across the board, except for a few regions that … Read more
Auto and home insurers’ investments in mobile app features and refinements have led to a significant rise in customer satisfaction scores, according to the J.D. Power 2024 U.S. Claims Digital Experience Study. The study revealed that overall satisfaction with the auto and home insurance digital insurance claims process is 871 (on a 1,000-point scale), up … Read more
Megadeals surge in 2024 as M&A confidence rises – WTW | Insurance Business America Insurance News Megadeals surge in 2024 as M&A confidence rises – WTW Large transactions up 31%, but overall deal volume declines Insurance News By Kenneth Araullo Large transactions have driven mergers and acquisitions (M&A) activity in 2024, according to research from … Read more
