According to Gallagher's Middle East and Africa Insurance Market Update: 2024 Overview and 2025 Outlook, published in 2025, rates for political violence (PV) coverage are expected to moderately increase this year, as geopolitical tensions and economic uncertainties persist.
WTW has today announced financial results for the fourth quarter ended 31 December 2024.
SCOR has appointed Mr Holger Schaefer as global head of casualty and environmental impairment liability within SCOR Business Solutions, effective 1 March 2025. He takes over from Mr Daniel Carerras, who moved on to the role of CUO, casualty.
The global reinsurance sector is in a stable position for 2025, said S&P, according to its latest report on the topic.
Chubb has reported a Q42024 net income of $2.58bn, a reduction of 22% from $3.30bn compared to the same period last year, as pre-tax catastrophe losses doubled.
The International Association of Insurance Supervisors (IAIS) yesterday published its Roadmap 2025-2026, the first under the new IAIS Strategic Plan 2025-2029.
The 2025 Global Medical Trend Rates report published by Aon in January 2025 forecasts a projected 11.1% rise in the trend rates in the Asia Pacific region. The rise in APAC is second highest globally for 2025 and higher than the global projected increase for 2024 of 9.7%, which represented the highest increase forecasted in 10 years.
More than three fourth (78%) of the insurers participating in a study, plan to increase their technology spending in 2025. At least 33% expect a 10% to 19% rise and 14% forecasting an increase of 20% or more according to the new study.
A joint study released in January 2025 by the IFoA and University of Exter says that the global economy could face a 50% loss in GDP between 2070 and 2090 unless immediate action is taken on the risks posed by climate change.
Dubai International Financial Centre (DIFC) Academy and Lloyd's Academy will work together to foster development of future talent into insurance industry.