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).
The gross premiums of Sri Lanka-based National Insurance Trust Fund Board's (NITF) are expected to surge this year due to a recent directive requiring primary insurers to remit 100% of motor strikes, riots, civil commotion and terrorism (SRCCT) premiums to NITF, up from the previous 12%, says Fitch Ratings.
AXA XL has appointed Mr Guillaume Parard as head of P&C, Asia, effective 1 January 2025 and Mr Todd Wilhelm as head of specialty, Asia, effective 1 September 2024.