News - Markets & trends

Swiss Re: Next wave of life expectancy gains is on the horizon

Gains in human longevity have tapered off over the last decade but the next wave of improvements is on its way, says Swiss Re's latest report, The future of life expectancy: Forecasting long-term mortality improvement trends for insurance. Advances in cancer diagnosis and treatment are the most likely areas to improve global longevity, according to the report. Future improvements will need to be supported by addressing older-age health issues such as Alzheimer's, lifestyle factors and access to healthcare.

UKRAINE: How do insurance companies handle the challenges of an ongoing war

The Ukrainian Insurance Business Association participated in Insurance Sweden Annual Conference 2023: Crisis and war - what is the role of the insurance industry? Vyacheslav Chernyakhovsky, general director of the association, presented the topic "How do insurance companies handle the challenges of an ongoing war".

OECD: inflation edges down to 9.2% in January 2023, as energy inflation slows

Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) fell slightly to 9.2% in January 2023, down from 9.4% in December. Declines in inflation between December 2022 and January 2023 were recorded in half of the OECD countries, compared to two-thirds between November and December 2022. The highest inflation rates were recorded in Hungary, Latvia, Lithuania and Turkiye (all remaining above 20%).

Swiss Re's multidimensional view of motor risk

Challenging times for the automotive industry. From lingering supply chain disruptions to global food shortages and the energy crisis, the economic landscape has been cumbersome, and companies worldwide have had to adapt to this complex new environment.

5 trends developed in 2022 that will affect in motor insurance also in 2023

An analysis published by the Polish member of the Vienna Insurance Group family, insurer Compensa, highlihts 5 events that had a major impact on motor insurance in 2022, also anticipating some of 2023 trends in the Polish motor insurance business. As these trends are largely common to many markets across the CEE region, we are offering an English version of it.

Maintaining reform momentum is essential to strengthen pension systems, says OECD

The current financial and economic uncertainty, as well as the rising cost of living, may lead policy makers, regulators and supervisors to postpone reforms that could improve their pensions systems. However, delaying needed reforms would put at risk the well-being of current and future pensioners. Policy makers should continue to improve pension systems, according to a new OECD report.

EIOPA: macro and market risks are the main concern reasons for insurers

Insurers' exposures to macro and market risks are currently the main concern for the insurance sector, is the finding of EIOPA's Risk Dashboard based on Solvency II data from the second quarter of 2022. All other risk categories, such as profitability and solvency, climate as well as digitalization and cyber risks stay at medium levels.

It will be a tough year for insurers in the SME market, analysts say

Insurers may need to focus on maintaining customers, even if that does result in profit declining in the short term, as SMEs are struggling the ongoing cost-of-living crisis, which is likely to heavily impact the commercial insurance sector making renewals and keeping penetration rates up a challenge, GlobalData says.

International Day for Disaster Risk Reduction: climate change action key to reducing disaster risk; insurers may substantially contribute

"Nothing undermines sustainable development like disasters," asserted United Nations Secretary-General Antonio Guterres in hir foreword to the sixth edition of the United Nations Global Assessment Report on Disaster Risk Reduction 2022 - "Our World at Risk: Transforming Governance for a Resilient Future comes at a critical time for the future of humanity."

Global average annual insured losses from extreme events in excess of USD 120 billion, new report from Verisk finds

Verisk Extreme Event Solutions released its 2022 Global Modeled Catastrophe Losses Report detailing key global financial loss metrics based on its latest suite of catastrophe models. Verisk estimates that on an annual average basis, catastrophes around the world are expected to cause about USD 123 billion in insured losses compared to an average of USD 74 billion in actual losses over the past 10 years.

Aon: August 2002 Floods - Lessons learnt after 20 years

20 years on from the devastating floods which had a large impact on Germany's and Austria's economy and became the costliest natural disaster event on record in the Czech Republic, Aon has published an analysis that is looking back on the event and how flood models have evolved to provide better risk management.

MOODY'S: Natural catastrophes and volatile markets weigh heavily on H1 results of the Big Four of the European reinsurance

The four largest European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR - reported a 47% decline in combined net profits for the first 1H 2022, reflecting high natural catastrophe (nat cat) claims and weaker investment returns. While reinsurance policies have renewed at substantially higher prices this year, claims inflation has partly offset the gains, Moody's said in its latest report. (link la download)

NatCat caused overall losses of USD 65 bn during H1, with slightly more than half of these insured

According to a natural disaster review for first half of 2022 released by global reinsure Munich Re, the period January-June 2022 saw lower natural disaster losses than in the comparative period of 2021. "Floods, earthquakes, and storms caused overall losses of some USD 65 billion compared with USD 105 billion in the loss-heavy previous year. At around USD 34 billion, insured losses were roughly in line with previous years".