The global outlook is extremely worrying, with the bond and equity markets reacting to recent events, said Mr Paul Hanratty, the Group CEO & Executive Director of Africa's largest insurer, Sanlam, which is headquartered in Capetown.
The situation in the Middle East, especially in countries directly involved in the conflict, continues to evolve in quick time. The situation on the ground in each country is nuanced, changing rapidly (sometimes by the hour), and travellers are being advised to assess their own risk profile and reasons for going there.
The Auckland High Court in New Zealand has imposed a final penalty of NZ$2.1m ($1.26m) on ASB Bank for fair-dealing breaches relating to its insurance and banking services.
The Thai insurance regulator, Office of the Insurance Commission (OIC), has launched a "PRIME Generation 1" programme to develop risk management and insurance planning talent. This will help the insurance community to support the new era of global risks.
Aon has appointed Mr Tom Langley-Poole and Mr Uday Tank as brokers in the Reinsurance Solutions Credit and Financial Risks team.
The short-term impact of the US-Israeli conflict with Iran on the credit quality of (re)insurers has been limited, according to AM Best. However, a prolonged conflict may have wider market implications.
Effective 1 April, Marsh has appointed Mr Nick Studer as President and CEO of Marsh Risk, and Mr Martin South as Chief Client Officer of Marsh. Both will serve on the company's Executive Committee.
Thailand's insurance regulator, the Office of the Insurance Commission (OIC), has held a meeting with the Bangkok Metropolitan Police Command to increase cooperation and enhance measures to prevent property crime in gold shops in Bangkok.