News - Markets & trends
Insurance Europe: across Europe, GWP for FY2021 have exceeded the 2019 level in most markets
The preliminary 2021 figures show Europe's reopening economies seeing rebounds in insurance premiums, albeit at different speeds. In most of the reporting markets, total premiums grew compared with the pre-pandemic year 2019, reads the latest Insurance Europe report on the evolution of the European insurance market in 2021*.
14 July 2022OECD Economic Outlook: heavy global price of Russia's war against Ukraine; Central and Eastern Europe highly expose to the war's economic consequences
Russia's invasion of Ukraine immediately slowed the recovery from the COVID-19 pandemic and set the global economy on a course of lower growth and rising inflation, the OECD's latest Economic Outlook shows. Strong exposure to the conflict region has put additional pressure on most Eastern European economies.
8 June 2022Marsh and Microsoft launch the 2022 Cyber Risk Survey, the third study dedicated to the cyber risks' evolution across the global economy
With almost 75% of organizations experiencing at least one cyberattack, cyber resilience is now more important than ever, reads the latest report issued by Marsh and Microsoft on "The State of Cyber Resilience".
2 June 2022ALLIANZ TRADE: Eurozone inflation: How bad can it get?
The Eurozone is facing the highest price pressures since the 1970s, a recent study released by Allianz Trade shows. Headline inflation reached 7.5% y/y in April (up from 7.4% y/y in March), with almost 60% explained by energy inflation. Europe has been hit particularly hard, given its stronger reliance on energy imports and the recent depreciation of the euro to a five-year low against the US dollar. How bad can it get?
12 May 2022Inflation - the number 1 global enemy
While the war in Ukraine will have minor direct consequences on the insurance industry, the indirect consequences, such as the capital markets volatility or the poorer growth prospects, will weigh more heavily, chief economists of Swiss Re, Munich RE and Allianz said in a discussion hosted by GDV.
14 April 2022Swiss Re's sigma report: insured losses accounted for 41% of total losses caused by natural catastrophes in 2021
Natural catastrophes in 2021 resulted in a total global economic loss of USD 270 billion and insured losses of USD 111 billion, the fourth highest on sigma records, thus continuing the long-term trend of insured losses increasing by an average of 5-7% annually worldwide, the latest report issued by the Swiss Re Institute reads.
31 March 2022Finaccord: the shift to digital is likely to last in the insurance distribution
Across ten major countries, face-to-face communications dropped dramatically in 2020 while online and phone communications increased. The shift to digital is likely to last, over half of all respondents to a recent Finaccord expect to buy insurance online more often after 2020.
3 February 2022Allianz Research forecasts global strong but uneven growth in 2022
In their newly published Economic Outlook 2022 report, Allianz Research takes a look at the global economic trends and identifies the main developments for 2022.
27 January 2022Aon: USD 343 billion in global weather-, catastrophe-related economic losses reported in 2021, up from USD 297 billion in 2020
Aon plc published its 2021 Weather, Climate and Catastrophe Insight report, which evaluates the increasing frequency and severity of disruptive natural disasters and how their resulting economic losses are protected globally. The report shows 38% of natural peril losses were covered by insurance, an improvement from last year.
26 January 2022Munich 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 2021
