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.
The insurance industry in Pakistan is holding consultations to reassess underwriting policies, review reinsurance arrangements and ensure insurers maintain adequate solvency levels, according to Mr Mohammad Raza, Non-Life Committee and Property Committee member of the Insurance Association of Pakistan (IAP).
The board of Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), among the top three Saudi insurers in terms of premiums, has proposed to increase in the capital of the company by granting bonus shares to the company's shareholders.
Prudential Financial's Japanese life insurance division has reported that several employees working through contracted agencies accessed and circulated internal operational information to colleagues within the company.
The global credit risk outlook is broadly unchanged since the last quarter with major uncertainties related to US tariffs and trade policy, the sustainability of benign market and funding conditions, geopolitical risks, and fiscal/economic policy volatility remaining, according to the latest report by Fitch Ratings.
Spillover credit risk from the Middle East war could increase sharply as hostilities persist, S&P Global Ratings said in a report.
Aviation insurance has emerged as a critical pressure point as a consequence of the Middle East conflict. To minimise risk, Singapore-based aviation insurers and reinsurers would need to carefully manage exposure to hull war, passenger liability and third-party risks, according to Mr Tristan Thompson, Aviation Partner at Kennedys, a global litigation and dispute resolution firm.
As the cyber market continues to expand-the market has doubled in global gross written premiums from $8bn in 2020 to $16bn today-insurers are increasingly seeking efficient ways to protect against extreme cyber tail events, according to a new white paper by Gallagher Re.