Author: Jakki Green
Ukraine war amounted to €475m losses for Munich Re in 2022, but overall profits rise
Man-made major losses for Munich Re in 2022 amounted to €1,742m (€1,165m), with the increase partly related to the war in Ukraine, totalling €475m. De [...]
P&C lines strong but insurers face challenges ahead, warns McKinsey
Global commercial property and casualty (P&C) lines have delivered strong financial performance in recent years following the soft market of 2013 [...]
From excessive pessimism to excessive optimism on the world economy, suggests Coface
The year 2023 starts with good news on the macroeconomic front, claims credit insurer Coface.
In its latest Barometer report, it said: “First, Euro [...]
Insurers urged to address climate change and protection gap threats with innovative products
Climate change and the protection gap topped the agenda at the 16th Carthage Insurance & Reinsurance Rendezvous held recently in Tunisia.
Insur [...]
ASR names new CFO
Africa Specialty Risks (ASR) has appointed Ciaran O’Donnell as chief financial officer.
ASR said he is an experienced CFO with extensive internatio [...]
IFRS17 set to change profit patterns for insurers, concludes Moodys
IFRS 17, the new insurance reporting standard that took effect in January 2023, will change insurers’ reported earnings and equity as it alters their [...]
Consilium launches new FAC reinsurance division to drive Africa business
Consilium, the global speciality (re)insurance broking business of the Aventum Group, has launched a new cedant-driven FAC reinsurance division.
Si [...]
New open exposure data standard launched by insurance sector to improve resilience
In what is seen as a way to promote inclusion and improve resilience, Aon has announced the implementation of an Open Exposure Data (OED) Standard cur [...]
Property most challenging line of business through January 1 renewals, says Aon
The most difficult reinsurance renewal conditions were experienced in the property segment, according to Aon in its latest Reinsurance Market Dynamics [...]
South Africa facing real threat to security from power cuts, warns IRMSA
The Institute of Risk Management South Africa (IRMSA) has joined growing calls on government to take immediate action to address unparalleled loadshed [...]