Flood prevention measures such as dykes, dams and flood gates come at a price, but their financial benefits can exceed costs for rebuilding after a disaster by up to 10 times, according to a report by Swiss Re Institute, titled "Resilience or rebuild? The costs and benefits of climate adaptation measures for flood".
Hannover Re, one of the world's leading reinsurers, has raised its profit target for 2024 and expects Group net income of around EUR2.4bn ($2.56bn) for 2025.
Miller has appointed Ms Amanda Armitage as business development manager in the International Professions Team, Mr Scott Gorman will lead the UK and International PI Wholesale team and Mr Steve Jolley as chief information officer, effective 2 December.
Hannover Re has appointed Mr Clemens Jungsthöfel as CEO and Dr Christian Hermelingmeier as CFO, both effective 1 April 2025.
The Irish Stock Exchange (Euronext Dublin) is the largest listing venue for global sukuk outstanding in hard currencies, covering 38% of global sukuk at end-3Q2024 (3Q2023: 41%), with the London Stock Exchange (LSE) and Nasdaq Dubai not far behind, Fitch Ratings says.
Reinsurance: SCOR's P&C profitability restored; L&H earnings under pressure Global reinsurer SCOR's P&C results are to remain strong in 2024 and 2025, says Fitch Ratings. However, the L&H results are expected to be negative in 2024, but to recover in 2025.
Aon has appointed Mr Simon Clapham as CUO for Aon Underwriting Managers (AUM).
Amid the growth in demand for reinsurance, driven by four major transitions - climate, energy, digital, and demographic - Singapore will reinforce its status as Asia's leading reinsurance hub through several approaches, according to Singapore deputy prime minister, minister for trade and industry and chairman of the Monetary Authority of Singapore (MAS) Gan Kim Yong.
Global ESG sukuk issuance is expected to continue rising over 4Q24-2025, driven by investor demand, funding and diversification goals, and government sustainability initiatives in some Muslim-majority countries, Fitch Ratings says.
AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023, a five-year high, driven mainly by a turnaround in unrealised losses from the previous year and strong underwriting performance.