A magnitude 7.8 earthquake struck southern Turkiye, near the northern border of Syria. The death toll has exceeded 2,300 in Turkiye and Syria and over 2,850 buildings have been destroyed.
A higher interest rate environment is in principle good news for the insurance industry, says Swiss Re Institute (SRI) in a new Economic Insights report.
Eight of the world's leading marine insurers have gathered and published client data to track their hull and machinery insurance portfolio's climate impact in a landmark climate report. The goal is to support the industry's green transition.
Global reinsurance giant yesterday announced plans to streamline its organisational structure by splitting the current Reinsurance Business Unit into P&C Re and L&H Re, with each having full authority over the respective underwriting and claims management processes.
Hannover Re generated a group net income of EUR1.41bn ($1.54bn) in the 2022 financial year (2021: EUR1.23bn), based on preliminary unaudited key figures, the global reinsurer says in a statement. The net results are expected to be higher in 2023.
Specific drivers will prevail in the insurance industry during 2023 and these will include ESG risks, geopolitics, technology change and claims inflation according to Kennedys, the global law firm in its annual forecast report for the insurance sector.
Extreme weather events induce psychological trauma which can have long-term impact on survivors' cognitive functioning according to a new study.
Healthcare reported the most cyber breaches of all sectors in 2022, overtaking finance to account for 22% of incidents, up from 16% in 2021 according to a data breach outlook report by Kroll.
Climate change driven natural disasters caused global economic losses of $313bn in 2022, according to a new report by insurance broker Aon. Less than half of these losses were insured.
Ravaged by human disturbances, deforestation, drought and fires, over a third of the Amazon rainforest has been rapidly deteriorating according to two new studies which have raised concerns that the rainforest with a unique ecosystem may be approaching a point of no return.