In the last 24 months, approximately US$20 billion of new capital has entered the market through investments in insurance-linked securities, funds and sidecars as well as the formation of hedge fund-related reinsurance companies and collateralized reinsurance vehicles, said Guy Carpenter & Company, LLC, in their report, Reinsurance: The Capital Markets Evolution Continues.
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Lloyd's reported a profit of GBP1.67 billion (US$2.86 billion) for the first six months of 2014, marking a 21% increase on the corresponding period last year.
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The global insurance industry, which currently accounts for a third of the world's investment capital, has pledged to increase its climate-smart investments - from US$42 billion to $84 billion by end of 2015.
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Updated figures from the International Cooperative and Mutual Insurance Federation (ICMIF) continue to highlight that the mutual and cooperative model has been the fastest-growing part of the global insurance industry since 2007.
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Recognising the crucial role of the insurance sector in enabling and fostering innovation, private sector growth and overall economic development, the International Finance Corporation (IFC) - a member of the World Bank Group and the largest multilateral provider of financing for private enterprise in emerging markets - and AXA have entered into an ongoing global partnership (mainly in Asia, Africa and Latin America).
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