News - Markets & trends
Guy Carpenter: a transitioning reinsurance market responds to cedents’ increased demand through mid-year 2024
Mid-year renewals reflected a transitioning reinsurance market meeting demand in a dynamic trading environment, reinsurance broker Guy Carpenter said. Loss-free property programs generally saw easing of pricing, even as demand increased. While casualty programs were also completed with adequate capacity, pricing and underwriting scrutiny persisted due to a variety of market trends.
8 July 2024WTW: Cost of new drug development is key concern for life science as focus shifts to repurposing
The high cost of new drug development is among the emerging themes that will have the greatest negative impact on the sector in the next 3-5 years, 63% of life science companies believe - according to WTW’s Global life science risk report 2024.
27 June 2024Leadership, benefits, and technology risks top of mind for risk and HR professionals
Based on responses from more than 1,000 risk and HR professionals nationwide, the People Risk 2024 Report released by Mercer and Marsh, businesses of Marsh McLennan (MMC), revealed that ineffective leadership is viewed as the biggest people risk facing organizations today, followed by improper rewards decision making, and increasing health and benefit costs. Risk managers also identified a lack of cybersecurity knowledge and mismanagement of AI as key people threats in 2024.
6 June 2024Swiss Re Institute: Health sector most at risk from artificial intelligence (AI) -related threats
The health and pharma sector is set to be hardest hit by the adverse effects of AI over the next decade, according Swiss Re Institute. 'Mobility and transport' and 'energy and utilities' are the other Top 3 industries most at risk of the adverse effects of AI technology over the next decade.
23 May 2024WTW: Continued prudence in M&A activity to be expected
According to the Global Transactional Risks Review and Outlook from WTW, a leading global advisory, broking, and solutions company, “adaptation” might best describe last year’s global M&A insurance market, with participants facing volatile macroeconomic conditions and prudent capital deployment. The cautious approach to M&A activity is set to continue in 2024.
9 May 2024Drug drivers – a risk on the European roads that draws increased concern
In Austria, the probability of meeting a drug driver on the road is high. A recent study shows a further increase in drug drivers by at least 23% in the last twelve months. Yet, only around 3% of them were reported as such, an articles published by the Austrian Association of Insurers (VVO) reads.
30 April 2024Mercer: C-Suite executives believe AI is key to increased productivity, yet most workforces are not ready to transform
The Mercer’s 2024 Global Talent Trends Study findings highlight a staggering shifts at work, pointing to a notable divergence between the views of the C-Suite and HR on what will carry business forward in 2024, and a lag in employees’ views on the impact of technology.
28 March 2024Swiss Re Institute: New record of 142 natural catastrophes accumulates to USD 108 billion insured losses in 2023
Global insured losses from natural catastrophes in 2023 exceeded USD 100 billion for fourth consecutive year with earthquake, driven mainly by the increased frequency of the events, Swiss Re Institute said, estimating that insured losses could double within the next ten years.
26 March 2024Swiss Re Institute: Economic losses set to increase due to climate change, with US and Philippines the hardest hit
Climate change will have a larger impact on economic losses in the future, according to Swiss Re Institute. A new analysis of 36 countries ranks the Philippines and the US as the most economically exposed countries today, where hazard intensification is likely to occur due to climate change.
29 February 2024Fine-tuning of the GDPR framework required to avoid slowing down the digital transformation
Increasing digitalization of the insurance business may be hindered by the narrow interpretation that data protection authorities are giving to the General Data Protection Regulation (GDPR), the German Insurance Association (GDV) stated in an article published on its own website.
15 February 2024Swiss Re: Multi-cancer early detection tests: a simple blood test has the potential to revolutionize cancer screening
Multi-cancer early detection blood tests offer a future where a single blood test can provide a routine, comprehensive screening for a range of cancers. This type of minimally invasive test would be a revolution in the early detection of cancers and has the potential to improve survival rates and decrease the economic burden of late-stage treatments.
31 January 2024WTW Natural Catastrophe Review: insured Nat Cat losses of USD 100 billion is the New Normal
For the fourth consecutive year 2023 saw a global insured loss exceeding USD 100 billion, as compared to a total economic loss surpassing USD 350 billion, confirming once again the ever present protection gap; such losses are becoming the norm, not the exception, the latest Natural Catastrophe Review released by WTW (Willis Towers Watson) shows.
29 January 2024Allianz Risk Barometer: A cyber event is the top global business risk for 2024
Cyber incidents such as ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer.
23 January 2024The Global Risks Report 2024: nearly two-thirds of respondents expect a stormy or turbulent outlook over the 10-year time horizon
As we enter 2024, 2023-2024 GRPS (Global Risks Perception Survey) results highlight a predominantly negative outlook for the world over the next two years (84% respondents are concerned) that is expected to worsen over the next decade (92% are pessimistic), according to the Global Risks Report 2024, developed by the World Economic Forum in collaboration with Zurich and Marsh McLennan.
16 January 2024Global Risks 2024: Disinformation tops Global Risks 2024 as environmental threats intensify
The World Economic Forum’s Global Risks Report 2024 produced in partnership with Zurich Insurance Group and Marsh McLennan warns of a global risks landscape in which progress in human development is being chipped away slowly, leaving states and individuals vulnerable to new and resurgent risks. Against a backdrop of systemic shifts in global power dynamics, climate, technology and demographics, global risks are stretching the world’s adaptative capacity to its limit.
16 January 2024Allianz and AXA are the only European insurers listed in the Top 10 Re/Insurance Groups Worldwide for 2022, by Insuramore
Top 100 insurance groups accounted for about 61% of the gross premiums written globally in 2022, while the Top 10 groups controlled a little over 17% of the approximate global total GWP of 7,530 USD billion, recent data provided by Insurance more show.
10 January 20242024: A year of political turmoil and economic uncertainty
The year 2024 is set to be one of significant political upheaval and economic instability. As countries representing 60% of the global GDP head to the polls, governments, businesses, and households are adopting a widespread 'wait-and-see' attitude that will likely delay critical economic decisions.
9 January 2024COP28: insurance industry underscores commitment to climate action and closing protection gaps
As the UN's global climate talks came to a close, Europe's insurance industry reconfirmed its commitment to fighting climate change and overcoming climate protection gaps – the uninsured losses from natural catastrophes – which are increasing as the impact of climate change materializes.
13 December 2023Moody’s: Trillions of dollars in global sectors’ debt highly exposed to environmental risks
Right before COP 28 is ready to kick-off, Moody’s Investors Service delves into 90 sectors accounting for USD 82 trillion in debt in our rated universe, exploring the potential credit impacts from five major environmental pressures.
29 November 2023Swiss Re Institute: Insurance industry strengthens resilience in challenging environment
Total premium growth is forecast at 2.2% annually on average for the next two years, higher than the average of the past five years, the latest sigma research reads, also emphasizing that there are reasons for optimism in profitability terms. However, geopolitical evolution remains challenging for the global economy.
22 November 2023
