Franz-Josef Hahn, Chief Executive Officer, Peak Re. Post...
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EU adopts a new package of sanctions targeting Russia’s energy infrastructure
Along with a full transaction ban on two major Russian oil...
Re/insurance industry needs to push boundaries of risk taking in a fragmenting world: Experts
“While the universe of risks is expanding, the world is...
Insurers hit with thousands of claims as rains soak New Zealand
Citi in a research note observed that IAG’s exposure to the floods in Auckland, which could be potentially as much as A$236 million, is “much greater” than Suncorp’s NZ$50 million cap Major insurers operating in New Zealand including Insurance Australia Group and...
China’s economic slowdown can generate ripple effects across world: Report
Observers were already talking about China falling into the middle-income trap and now, evidence has come to light that the country is finding it hard to keep its miracle of sustained higher growth rates anywhere closer to 10 per cent or more recorded during the late...
SCOR appoints Swiss Re’s Thierry Léger as its CEO as Rousseau steps down
Thierry Léger, CEO- Designate,SCOR Léger will be responsible for drawing up a new attractive and ambitious strategic plan for SCOR, and will outline the orientations and main themes of this plan at the 2023 general meeting. His mission will be to help SCOR further...
Climate Is forcing the most risk-aware industry to reinvent Itself
Christian Mumenthaler,, group chief executive officer, Swiss Re The difficulties are forcing the insurance industry to get creative. There are three levers it can use to reduce climate risks: reduce its own emissions, force the companies it invests in to reduce their...
Global insured losses from natural disasters exceed $130 Billion in 2022, second-costliest event on record: Aon
Data show that 2022 was the fifth costliest year on record for insurers, with approximately $50-55 billion of the global insured loss total resulting from Hurricane Ian in the United States - the second-costliest natural catastrophe in history from an insurance...
Leading reinsurers and Aon join hands to implement Open Exposure Data, to reduce costs and increase transparency
The Open Exposure Data Standard will also lower barriers of entry for model developers – including commercial vendors, third-party data providers and academia and other research institutions. Initial testing on reinsurance placement data for Japan, Australia and China...
Bermuda (Re)insurers see improved pricing, performance in 2023
Market pricing surged at the January 2023 reinsurance renewal, shifting to a true hard market in property and some specialty lines with supply constrained and demand growing. Importantly, terms and conditions saw structural changes that benefited (re)insurers....
AXA reduces aviation war cover after Ukraine losses, sources say
One of the top 10 players in global aviation insurance, AXA XL is pulling back from underwriting risk on so-called war cover, the sources said, reducing options for airline operators or lessors seeking protection against loss or damage arising from warThe retreat by a...
WTW outlines “New Trilemma” of challenges for renewables-sector risk managers
: “Macro events and trends such as inflation, cost increases, security, and supply chains are impacting the renewable energy industry, making the current business environment a challenging one for risk managers. Several important steps will help them to assess their...
Hannover Re partners with Stone Ridge in first cyber risks transfer to the capital markets
"For the first time, we were able to transfer cyber risks to the capital markets, and on a substantial scale, through a proportional reinsurance solution. This underscores our lead role as a bridge builder between the capital markets and the insurance industry," said...