Munich Re has pushed through premium increases of at least 400% in oil rig reinsurance since Hurricanes Katrina and Rita caused havoc in the Gulf of Mexico.
The reinsurer confirmed its profit targets yesterday despite $1.3bn of losses.
Munich Re said that the most dramatic premium increases had been in offshore energy installations but added that future policy renewals would probably see rises of up to 50% in US property cover and smaller increases in Europe.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
