The Board of Directors of MAPFRE Re has approved the appointment of Mr Fernando Utrilla Agüero as CFO, as part of the succession process following Mr Daniel Quermia's upcoming retirement.
Oil and gas supply shock triggered by the Middle East conflict has led several Southeast Asian countries to ramp up their coal reserves. A recent report, however, reveals that the region's shift back to coal is likely to increase costs sharply rather than reduce them.
Organisations globally are continuing to accelerate AI adoption, even as security and compliance risks remain well recognise, according to a study by TrendAI, the enterprise AI security division of Trend Micro.
Japan Post Insurance has signed two deals with Bermuda based reinsurers Aflac Re Bermuda and Talcott Re, through which it aims to manage legacy portfolios, reduce capital burdens, and combat domestic market stagnation.
Aon has announced two senior appointments to support the growing complexity and capital demands of digital infrastructure investment worldwide.
Chubb and a group of other insurers have announced that they would be providing an additional capacity of $20bn for the US International Development Finance Corporation's Maritime Reinsurance facility, bringing the facility's total insurance support to $40bn.
The global reinsurance market is continuing to soften, with noticeable rate reductions seen in key 1 April renewal regions across Asia and India, according to a recent report by Guy Carpenter, a Marsh McLennan business and leading global risk and reinsurance specialist.
The conflict in the Middle East has introduced a significant new source of risk into the global economy, that until recently, had looked reasonably resilient, according to the International Monetary Fund's First Deputy Managing Director Dan Katz.