The International Association of Insurance Supervisors (IAIS) has adopted the first comprehensive global capital standard for insurance supervision, the Insurance Capital Standard (ICS), providing a risk-based measure of capital adequacy for internationally active insurance groups (IAIGs).
French insurance giant AXA and the People's Insurance Company (Group) of China, the country's biggest non-life insurer, have signed a Memorandum of Understanding to boost global cooperation.
The Geneva Association has appointed Mr Darren Pain as director of research and Mr Dennis Noordhoek as director of external stakeholder engagement. Both roles are effective 1 January 2025.
Reinsurance usage is on the rise, evidenced by declining retention ratios in the global insurance market, says the International Association of Insurance Supervisors (IAIS).
The outlook for the insurance sector in 2025 remains stable, albeit amid an uncertain macroeconomic and geopolitical landscape, says the International Association of Insurance Supervisors (IAIS).
Aon has appointed Mr Robert O'Connell as global cyber strategy and growth leader and executive managing director of Reinsurance Solutions.
Aon has appointed Ms Anne Corona as global chief commercial officer and CEO of Enterprise Clients, effective 1 January 2025.
Howden has appointed Mr Azman Noorani as global practice leader, surety. In his new role, he will be responsible for leading Howden's new Global Surety Practice, which will build on the company's existing surety capability that provides solutions for clients with bond requirements across multiple countries.
Miller has appointed Mr Guy Pierpoint to its marine team in a leadership role focusing on business development.
According to the report titled "Deepfakes in the Financial Sector: Understanding the Threats, Managing the Risks", published by the Financial Services Information Sharing and Analysis Center (FS-ISAC), the word 'deepfake' is a portmanteau of the words 'deep learning' and 'fake'. It also defined deepfakes as "synthetic media produced by GenAI".