Gross direct premiums written (GDPW) for cyber insurance is estimated globally at just over $15.7bn in 2023 rising to more than $16bn if captive insurers are also included, says Insuramore, a provider of marketing services and related consultancy with a focus solely on the insurance sector.
The 19 July cyber security software incident at CrowdStrike is unlikely to have a material impact on global (re)insurer financial results, Fitch Ratings says.
Aon has appointed Mr Ed Thomas as head of Lloyd's Capital within its Reinsurance Solutions Capital Advisory team.
Texel has appointed Ms Angela Chang as managing director of Texel Asia; Mr Jonathan Crossfield as CFO, a newly created role and Mr William Shaw as deputy CEO.
Peak Re has appointed Mr David Menezes as chief risk officer. His responsibilities include ensuring regulatory and legal compliance, a comprehensive understanding of risks and exposures and safeguarding the company's financial strength. He joined Peak Re in 2016 and has been serving as deputy chief risk officer since 2022.
Life insurance premiums in emerging markets, including those in Asia, will grow by 7.2% in real terms in 2024, with just 1.5% aggregate growth in advanced markets, says Swiss Re Institute (SRI).
Chedid Re Global Operations, the reinsurance broker network of investment group Chedid Capital, has appointed Mr Vincent Vandendael as independent non-executive director.
There is good potential for the growing institutional and private wealth investor base in Asia, including Singapore, to invest in insurance linked securities (ILS), according to Mr Lim Cheng Khai, executive director of the Financial Markets Development Department of the Monetary Authority of Singapore (MAS).
Paris-headquartered CCR RE has been profitable since its creation as a stand-alone company in 2016, with earnings from both underwriting and investment activities. Since inception, the company has experienced strong growth, notes AM Best.
Schroders Capital, the private markets business of Schroders Group, has launched an innovative tokenisation pilot designed to enhance the way insurance-linked securities (ILS) investments are invested and managed. The proof of concept was a collaboration with global reinsurance company, Hannover Re.