The European Insurance and Occupational Pensions Authority (EIOPA) said it will test 44 insurers and reinsurers for their resilience to the economic consequences of the pandemic and a “lower for longer” interest rate landscape.

Insurers are exposed to the economic environment through the returns they can earn from investing insurance premiums, as well as from the level of demand for their products.

“We are still in the middle of the crisis,” EIOPA Executive Director Fausto Parente told a media conference.

“The insurance sector is for sure not immune.”

Global renewable energy grew at fastest pace in two decades in 2020 – IEA

May 11, 2021

New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year increase since 1999, even though there were supply chain disruptions and construction delays due to the impact of COVID-19.

China accounted for 50% of renewable energy capacity growth last year and will account for 45% this year and 58% in 2022, the report said.

AXA XL appoints Anish Jadav as CUO, Retail P&C, UK & Lloyd’s market

May 11, 2021

In his new role, Jadav will be responsible for developing and executing AXA XL’s Retail P&C underwriting strategy and optimising product offering and profitability.

Moody’s upgrades outlook for global aviation industry to ‘positive’

May 11, 2021

“While the continuing pandemic means there is a risk of further disruption to air travel in various countries at various times, we expect an increase in vaccinations to lower border restrictions and increase demand for air travel over the next 12 to 18 months,” Moody’s said in a note today.

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