With a peak in solar and geomagnetic activity expected in 2013-2014, insurers need to work towards a better understanding of the consequences of a space weather event, according to a new report by Aon Benfield.
Insurance-linked securities (ILS) do not pose a significant threat to traditional reinsurers, despite increasing competition within the market.
Lloyd’s managing agency Antares said that its recent tie up has come on the back of strong historical trading links with Japanese trading company Itochu Corporation, who said the deal expands its existing insurance activity.
Bermudian re/insurer Argo Group has stressed that the recent sidecar it formed, capitalised by capital market investors, is very different to similar vehicles launched by its rivals.
OIM Underwriting, a subsidiary of Arthur J Gallagher, has announced the launch of its e-Underwriting division.
The Asia Pacific region continues to provide significant opportunities to the insurance industry at a time when many other more established markets are facing problems. That is the view of broker BMS, which has just opened an office in Sydney, Australia.
Insurers are increasingly seeking assistance in managing their investments, with many choosing to outsource their asset management function to third party specialists.
The lack of an agreement between the UK government and insurers that would establish a new solution for how flood risk is covered remains a big worry for insurers as thousands of homes could be left uninsured when the existing agreement expires.
Governments must work together to mitigate the increasingly complex array of interconnected risks and challenges facing their economies and populations.
Project Darwin, the Lloyd's project examining the provision of central services to the London insurance market, will be renamed Central Services Refresh and will benefit from the involvement of a number of new partners.