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Feb 2024



Asia Pacific and Africa: Small fraction of disaster losses in 2023 are insured

Losses from natural disasters in the Asia-Pacific and Africa region totalled $64bn in 2023, slightly lower than the $66bn seen in the previous year, said Munich Re. Approximately $8bn of the $64bn was insured (2022: $11bn).

Australia: Major insurer places $7bn catastrophe reinsurance programme

IAG has placed its catastrophe reinsurance programme for the 2024 calendar year.

South Korea: Insurance market expected to rebound in 2024

The insurance market in Korea is forecast to rebound in 2024, with an expected growth rate of 2.6%, following a period of negative growth in 2023, said Korean Re in a blog posted on its website.


Forests in Southeast Asia can weather climate change better if left undisturbed

Tropical forests in Southeast Asia could be more resilient to climate change than widely assumed so long as a diverse landscape is allowed to remain in place, according to new research by the University of Sydney.

Risks, regulation in focus as AI boom accelerates

A rush of new generative AI products in 2023 brought new attention and fresh concerns about the emerging technology according to a new insight article by S&P Global Market Intelligence.

Supply chain biggest challenge for cyber security

Supply chain security is the biggest challenge for cyber insurance buyers according to Marsh. Addressing a recent media briefing, the broker also predicted that cyber insurance rates will continue to fall during 2024.