Climate change and its impact on losses and claims featured highly as major challenges to be faced by marine insurers in the future, according to a general consensus reached at the 150th anniversary conference in Berlin of the International Union of Marine Insurance (IUMI). Changing weather patterns would place increased strain on supply chains causing delays and risk accumulations.
Allianz Global Corporate and Specialty has appointed Mr Thomas Lillelund as CEO, effective early 2025 and subject to regulatory approval. He will also assume leadership of Allianz Commercial, the Group's integrated global model for serving the commercial property and casualty insurance segment.
The prices of comparable sukuk and bonds analysed by Fitch Ratings maintained high correlation over 1H2024, continuing the pattern observed over the previous five years, although there are sometimes brief instances of price volatility when correlation falls, the global credit rating agency says.
The Asia Pacific region maintained its share of global marine insurance premiums of 28.1% in 2023, compared to 28.4% in 2022, according to data from the International Union of Marine Insurance (IUMI) which presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin on 16 September 2024.
AXA XL has appointed Mr Chris Caponigro as head of reinsurance capital management. In his new role, he will further expand the product offering and investor base by continuing to develop the team's infrastructure and strategy.
Four years after the peak of the COVID-19 pandemic, many countries are still reporting elevated all-cause excess mortality compared with pre-pandemic levels, according to Swiss Re Institute.
Sun Life Canada has appointed Ms Jessica Tan as president, effective 30 September 2024. She succeeds Mr Jacques Goulet, who is assuming the role of Executive Chair.
The circumstances are all too familiar: a mutating virus that can spread from animals to humans, a threat amplified by a globalised world, has created what experts say is a public health emergency of international concern.
S&P Global Ratings (S&P) says in a new report that it expects rated insurers can mitigate the risk arising from the increase in natural catastrophe-related claims through underwriting actions.
Global reinsurance giant, Hannover Re, anticipates prices and conditions to remain on a sustained stable level for treaty renewals in property and casualty reinsurance as at 1 January 2025 and anticipates a balance of supply and demand in most markets.