Africa Specialty Risks (ASR), the Africa and Middle East focused (re)insurance group, announces the launch of the first Africa Focused Lloyd's Consortium.
Economic downturns, such as recessions and stagnation, alongside the concern for the increasing frequency of weather events, natural disasters and labour and talent shortages, remain the most pressing concerns for businesses across the Asia Pacific (APAC) region over the next two years.
Bahrain-based Arab War Risks Insurance Syndicate (AWRIS) has a track record of strong operating performance, demonstrated by a five-year (2019-2023) weighted average combined ratio of 65.7% and a five-year return-on-equity ratio (ROE) of 6.0%, says AM Best.
The role of international trade as a geopolitical battleground will likely intensify in the next four years after tycoon Donald Trump takes the helm as US president, says Verisk Maplecroft, a global risk intelligence company.
When asked what some common concerns clients had raised this year, Markel managing director APAC Christian Stobbs pointed to continued geopolitical instability and conflict in and around the Red Sea as a "clear focal topic".
The ongoing unrest in Mozambique following the recent election poses risks to political stability, fiscal consolidation and economic growth, says Fitch Ratings.
Chaucer has appointed Mr Jonathan Ng as class underwriter in political risk.
Lloyd's, the world's leading marketplace for insurance and reinsurance, has published a scenario which reveals the global economy could be exposed to losses of $14.5tn over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains.
Miller has appointed Mr Edward Cheak as head of credit and political risk insurance. In his new role, he will broaden Miller's service offering beyond London and Europe into the Asian marketplace.
Dhaka Metro Rail, which was hit by vandals during student street protests in July 2024, did not insure its operations although insurance was acquired during the rail construction phase, according to Mr Jahangir Shah, the spokesperson and director of the Insurance Development and Regulatory Authority (IDRA).