Magazine Table of Contents
Losses from natural disasters in the Asia-Pacific and Africa region totalled $64bn in 2023, slightly lower than the $66bn seen in the previous year, said Munich Re. Approximately $8bn of the $64bn was insured (2022: $11bn).
IAG has placed its catastrophe reinsurance programme for the 2024 calendar year.
The insurance market in Korea is forecast to rebound in 2024, with an expected growth rate of 2.6%, following a period of negative growth in 2023, said Korean Re in a blog posted on its website.
Tropical forests in Southeast Asia could be more resilient to climate change than widely assumed so long as a diverse landscape is allowed to remain in place, according to new research by the University of Sydney.
A rush of new generative AI products in 2023 brought new attention and fresh concerns about the emerging technology according to a new insight article by S&P Global Market Intelligence.
Supply chain security is the biggest challenge for cyber insurance buyers according to Marsh. Addressing a recent media briefing, the broker also predicted that cyber insurance rates will continue to fall during 2024.