Global reinsurers will feel the impact of Hurricane Milton, S&P Global Ratings (S&P) has said but it does not foresee Milton overstepping the sector's annual catastrophe budgets.
Hurricane Milton will push global industry insured losses thus far in 2024 to over $100bn, which is the fifth consecutive year losses have crossed this threshold, Fitch Ratings has forecast.
Aon has appointed Ms Emma Crookes as global head of the insurance vertical. In her new role, Ms Crookes will expedite the development of Aon's client leadership model to bring such capabilities to insurers in a coordinated way across the firm.
Global sukuk issuances are rising following the US Fed's rate cut to 5% in September 2024, with financing conditions improving, Fitch Ratings says.
HSBC has appointed Mr William Chan as global CIO and head of investments for global insurance.
Members of the Association of Insurers and Reinsurers of Developing Countries are meeting at the 23rd AIRDC International Conference in Thailand, the first time that the southeast Asian country is hosting the event (AIRDC 2024).
CCR Re has appointed Ms Vaibhavi Mehta as director of underwriting (life). She has over 17 years of experience in reinsurance and consultancy.
Aon has appointed Mr Paul Schultz as global vice chair of reinsurance solutions and Mr Richard Pennay as CEO of Aon Securities.
The UNDP is working with partners to create the largest partnership of its kind, the Global Takaful Alliance, according to a staement posted on the website of the UNDP Insurance & Risk Finance Facility.