The decision by the UK and the US not to sign a declaration at the Artificial Intelligence Action Summit in Paris earlier this week has laid bare the growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation.
Climate risks, disruptive technology and geopolitical instability are the top emerging risks according to an annual survey of risk managers. The new survey has been jointly published by the Casualty Actuarial Society and the Society of Actuaries.
According to Gallagher's Middle East and Africa Insurance Market Update: 2024 Overview and 2025 Outlook, published in 2025, rates for political violence (PV) coverage are expected to moderately increase this year, as geopolitical tensions and economic uncertainties persist.
WTW has today announced financial results for the fourth quarter ended 31 December 2024.
SCOR has appointed Mr Holger Schaefer as global head of casualty and environmental impairment liability within SCOR Business Solutions, effective 1 March 2025. He takes over from Mr Daniel Carerras, who moved on to the role of CUO, casualty.
The global reinsurance sector is in a stable position for 2025, said S&P, according to its latest report on the topic.
Chubb has reported a Q42024 net income of $2.58bn, a reduction of 22% from $3.30bn compared to the same period last year, as pre-tax catastrophe losses doubled.
The International Association of Insurance Supervisors (IAIS) yesterday published its Roadmap 2025-2026, the first under the new IAIS Strategic Plan 2025-2029.
The 2025 Global Medical Trend Rates report published by Aon in January 2025 forecasts a projected 11.1% rise in the trend rates in the Asia Pacific region. The rise in APAC is second highest globally for 2025 and higher than the global projected increase for 2024 of 9.7%, which represented the highest increase forecasted in 10 years.
More than three fourth (78%) of the insurers participating in a study, plan to increase their technology spending in 2025. At least 33% expect a 10% to 19% rise and 14% forecasting an increase of 20% or more according to the new study.