The takaful sector remains a small player within Islamic finance, accounting for less than 2% of the total market. Despite this, the global takaful market surpassed $30bn in 2023, according to the Arab Monetary Fund (AMF).
Cyber attacks have more than doubled since the pandemic and while companies have historically suffered relatively modest direct losses from cyber attacks, some have experienced a much heavier toll.
Global insured losses from Nat CAT events in Q1 2024 were minimally estimated at $20bn, heavily driven by severe convective storm (SCS) activity in the US according to a new report.
Almost two-third (62%) of insurance executives recognise AI and machine learning technology as elevating underwriting quality and reducing fraud in the insurance industry.
Over eight in 10 organisations encountered one cyber security incident in a year, the Cyber Security Agency of Singapore (CSA) said in its Singapore Cybersecurity Health Report 2023.
Nearly three quarter of insurers are investing in private markets or plan to do so as firms put excess cash to work according to a global survey.
Climate change will reduce future global income by about 19% in the next 25 years with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit according to a new study.
Corporate valuation can be boosted by adopting proactive climate risk management according to a new study by the University of Florida.
A recent study leveraging external and internal datasets has revealed that the protection afforded by cyber insurance may fall significantly short of the actual costs incurred during cyber incidents.
Short-term improvements have been recorded in China's economic data with economic growth in the country at the beginning of this year driven by strong industrial value-added and investments, says Heng An Standard Life Asia (HASL Asia).