News - Markets & trends
Munich Re: high losses from natural disasters in 2021 draw attention once again to the consequences of climate change
Last year was the second-costliest ever for the insurance sector, says Munich Re, quoting overall losses from natural disasters of USD 280 billion in 2021, 43% of which being insured. Many of the weather catastrophes fit in with the expected consequences of climate change.
13 January 2022Climate failure and social crisis Top Global Risks 2022
Climate risks dominate global concerns as the world enters the third year of the pandemic, the Global Risks Report 2022 has found, while the top long-term risks relate to climate, the top shorter-term global concerns include societal divides, livelihood crises and mental health deterioration.
13 January 2022The View to 2022 according to AM Best: insurers face new year with cautious optimism
As always, entering the last months of the year we are trying to foresee what is expecting us once the frontier between the years will be crossed. According to the latest AM Best research, "in the year ahead, insurers see plenty of challenges, including cyberrisk, growing catastrophe losses and lingering impacts of COVID-19. But, surprisingly, not all is gloomy."
2 December 2021AM Best report: Europe's captive sector thrives amidst hardening market
Amid tougher renewal discussions in Europe, there has been an uptick in the use of existing captives, as owners increasingly seek optimal risk transfer solutions, AM Best's new Market Segment Report found out.
The report looks at the background to this development. It notes that price increases in the (re)insurance market began to appear as early as 2018 in some segments. The market has continued to harden since, with commercial insurers and reinsurers commonly reporting rate-on-rate increases, and a tightening of terms and conditions.
The report looks at the background to this development. It notes that price increases in the (re)insurance market began to appear as early as 2018 in some segments. The market has continued to harden since, with commercial insurers and reinsurers commonly reporting rate-on-rate increases, and a tightening of terms and conditions.
11 November 2021Aon on Climate Change: learning from the events of today to prepare for tomorrow
The increased influence of climate change suggests that, in
what regards floods, what is considered a 1-in-100-year event (1% chance of
occurring at a location in any given year) today may becoming a 1-in-75 or
1-in-50-year event in the future, Aon's recently released "Real-Time
Climate Change" report shows.
10 November 2021E+S Ruck expects rising reinsurance prices after catastrophic weather events in Germany
E+S Ruckversicherung, the Hannover Re subsidiary responsible for the Group's German business, expects higher prices - in some areas markedly so - and improved conditions in property and casualty reinsurance on the German market following the devastating flood damage in the summer.
20 October 2021Munich Re anticipates higher reinsurance rates on European markets
Global reinsurer Munich Re anticipates to see continued market hardening in Europe to accompany January 2022 renewals, while the major losses and inflation indicate more pricing discipline. "Due to the character of risks like natural catastrophes, COVID-19, and rising cyber-attacks, the role of reinsurance is increasingly transcending risk transfer", as the German reinsurer mentioned in a statement.
20 October 2021A billion-dollar walk in the park: health benefits of nature explored in Swiss Re report
As the UN Convention on Biological Diversity (COP-15) approaches, Swiss Re Institute addressed in its 'Biodiversity and the Benefits for Human Health' publication just how valuable time spent in nature can be for physical and mental well-being and, in turn, for reducing health related expenses.
7 October 2021AXA Future Risks Report 2021: Climate change and cyber risk top the list of concerns
Despite the health crisis capturing everyone's eye for longer than a year, climate change tops now the risk ranking, shows the Future Risks Report released by AXA. In the USA, cyber risk is on the rise and becoming the number one concern, while preparedness for dealing with both risks is till inadequate.
30 September 2021Inclusive Insurance needs more innovation and cost reducing mechanisms to become a reality in the CEET region
"Overall, inclusive insurance is still a nascent business in the CEET region and is not currently a top priority for most insurance supervisors in the area," is the finding of the REPORT ON THE INCLUSIVE INSURANCE REGULATORY LANDSCAPE IN THE CEET REGION recently published by Access to Insurance Initiative (A2ii).
23 September 2021New opportunities for Russian insurers in ESG
ESG and sustainability have gained huge attention within Russian media and politics in recent months, argues Gepa Jansen,
Operational Leader Team Russia & CIS at Swiss Re in the following article. Read her opinion oin the opportunities that ESG brings to the Russian insurance market.
14 September 2021New Care Models: Insurers to move to a business model developing longstanding partnerships with customers as well as players in the health and care ecosystem
The last report "New Care Models: How insurers can rise to the challenge of older and sicker societies", which is a product of the Health & Ageing work stream of The Geneva Association, co-sponsored by Thomas BUBERL, CEO of AXA, and Michel KHALAF, CEO of MetLife, explores innovations in the planning, purchasing and delivery of health services.
23 August 2021Aon: German and Chinese insurers confronted with the costliest natural disasters on record
Extreme precipitation in mid-July resulted in the costliest European flooding event on record, and the deadliest in nearly 30 years, reads the Global Catastrophe Recap report released by Aon. Only in Germany, the official death toll listed at 197, while direct damage was anticipated at about USD 20 billion, of which up to USD 6.5 billion insured losses.
12 August 2021Swiss Re Institute: global insured catastrophe losses from severe weather events reached USD 42 billion in 1H 2021
Estimated insured losses from natural catastrophes at USD 40 billion are the second highest on record for a first half year since 2011, the Swiss Re Institute said, stressing out that winter storms, intense heatwaves and severe flooding around the globe continue to signal the growing risks from secondary perils, fueled by rapid urban development and climate change.
12 August 2021Insurtech Insight research report: how life insurers can benefit from partnerships and ecosystems
In the research report named "Why life insurers are embracing partnerships and ecosystems", prepared in partnership with EIS, the leaders shared some tips for how life insurers can benefit from partnerships and ecosystems.
22 July 2021Risk Radar report: the follow-on impact of the 'powering up' of digital marketing, sales and claims processing is one of much importance to all in the industry
The third edition of the Global Insurance Law Connect RADAR report gives an opportunity to know the approaches, regulatory challenges, and stories of innovations that different markets share during such a challenging period that the industry is going through.
15 July 2021Swiss Re Institute: record global insurance premium at USD 7 trillion expected by the end of 2022
Year 2021 will see an above-trend global premium growth of 3.3%, while for 2022 a 3.9% growth rate may be expected, the latest annual world insurance premium sigma released by the Swiss Re Institute. As such, global premiums may reach USD 6.9 trillion.
15 July 2021Swiss Re: Paris climate targets not possible without a carbon removal industry the size of oil & gas
The pathway to tackle climate change is clear: Reducing CO2 emissions is the priority and then any unavoidable emissions need to be removed from the atmosphere and stored permanently, the latest Swiss Re Institute report "The insurance rationale for carbon removal solutions" shows.
8 July 2021The digital pandemic - ransomware attacks worldwide went up by 170%
"From a cyber perspective, only two types of companies exist: those that have been hacked and those that will be hacked," reads a recent Hiscox report which also calls ransomware attacks a "digital pandemic" with which 2020/21 will be for ever associated, as well as with the Covid-19 pandemics.
8 July 2021ALLIANZ Research: Boom or bust? The covid-19 crisis emphasizes wider fertility challenge
The Covid-19 pandemic not only caused millions of premature deaths, but it had also an impact on the number of births. This trend, especially if lasting for several years, will increase the demographic imbalance, exacerbating the challenges of an ageing population.
17 June 2021
