Non-insured losses on the Africa are close to 97%. Disaster Risk Financing
Only 3% of losses caused by drought, floods and tropical cyclones have been insured on the African continent
Insurance News
Covéa completes deal to purchase PartnerRe for $9.3 bn
Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR and holding company, for a total cash consideration of $9.3 billion
Insured losses from natural catastrophes estimated at $100bn
Reinsurance giant Munich Re has estimated that insurance industry losses from natural disasters or catastrophes in 2021 were roughly $120 billion, the second-highest annual total… Read More »Insured losses from natural catastrophes estimated at $100bn
European insurers said that it does not plan to use IFRS 17 yet
Fitch have stated that the first public comments from Dutch insurer – ASR, on the implications of IFRS 17 support Fitch Ratings’ view
SMEs risk being priced out of cyber insurance as rising costs
SMEs risk being priced out of cyber insurance as rising costs force them to prioritise other areas of their business, according to market research company GlobalData.
Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft guidelines on the calculation of administrative fines under the… Read More »Insurers call on EDPB to align draft guidelines on GDPR fines with IFRS
Main trends that are making insurers shift to risks prevention
The two main trends that are making insurers shift to prevention are the growing complexity of risks society faces, and the ever-increasing availability of data
Insurers are relatively well prepared for a recession
The privately owned bank also predicts a shallow recession in 2023 across Europe, the UK and the US, according to a newly issued sector note by Berenberg
How insurers can help to reduce climate change impact in Africa
Through analysis, underwriting, investment and advice, insurance sector of Africa is helping to understand the complexities of climate change, working with policymakers to reduce its impact and create new opportunities
Insurers and Policymakers must work together to tackle protection gaps
Significant protection gaps exist in societies and economies around the world and coordinated action is required from policymakers, insurers and the public to address them. … Read More »Insurers and Policymakers must work together to tackle protection gaps
Home and Auto insurance Startup Branch raised $147 mn
Branch, a startup offering bundled home and auto insurance, has raised $147 million in Series C funding at a postmoney valuation of $1.05 billion
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The United States personal auto insurance industry experienced its best underwriting result in the post-pandemic era with a net combined ratio of 95.3
As electric vehicles (EVs) gain popularity, the insurance industry is also adapting to meet the unique requirements of eco-conscious drivers
Auto insurance premiums in the U.S. could rise 14% by the end of 2025 due to new tariffs on imported vehicles and parts
Lloyd’s Lab accelerator has become a major force in insurance innovation, securing over $1 bn to support startups transforming the industry, launching 6 years ago