Insurance Business Asia’s Post

In spring 2024, the commercial property insurance market experienced a significant shift, marking a favorable turn for buyers after enduring six years of challenging conditions. This transition comes after a prolonged hard market cycle triggered by catastrophic events. However, recent developments indicate a more promising landscape, allowing businesses to optimize their insurance placements and navigate the market with renewed optimism. Read more: https://lnkd.in/gJVrDiZB #cmr #cmrris #propertyinsurance #commercialproperty

🌟 The international rating agency Standard & Poor's (S&P) has once again awarded Vienna Insurance Group (VIG) an excellent "A+" rating with a stable outlook! This outstanding rating places VIG among the top companies in the leading Austrian Traded Index (ATX). Additionally, the "A+" rating with a stable outlook has been reaffirmed for VIG Re, the group's reinsurance company based in Prague. What led to such high evaluation results from the independent rating agency S&P? Firstly, VIG maintains robust capitalization under the revised criteria, even in an extreme stress scenario, with the highest confidence level of 99.99%. S&P confirmed the group's capital strength and top rating, highlighting the very strong performance of the group in 2023, driven by solid underwriting results, a stable combined ratio, and a comparatively strong new business margin in life and health. Secondly, VIG's strategy of strong diversification and disciplined risk management. In addition to capital resources, the rating agency also emphasized VIG's market leadership in Austria and several countries in Central and Eastern Europe. The broadly diversified insurance portfolio with clear sales capacity and the bancassurance collaboration with Erste Group were also highlighted. Another positive factor was the conservative reinsurance strategy, which limits the group's NatCat losses arising from various adverse weather events in Central and Eastern Europe. Thirdly, S&P underlined the stable outlook, supported by the leading market positions held by multiple VIG companies in Central and Eastern Europe. The rating agency anticipates that VIG will continue to leverage its growth potential over the next 2-3 years. With its strong capital resources and successful business model, Vienna Insurance Group (VIG) continues to grow in Central and Eastern Europe, being a reliable partner to its customers. Kniazha Vienna Insurance Group is proud to be part of such a stable company and applies its core principles in the Ukrainian insurance market. #vig #insurance #rating #InsuranceCompany

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA

Dive into the latest trends affecting property insurance rates with my colleague Denise Perlman, CIC, of Marsh McLennan Agency. Her fresh off the press Forbes Finance Council column unravels how to expertly steer in the commercial #PropertyInsurance market. #MarshMMA