Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments made in the global reinsurer’s earnings call with analysts. Board member Torsten Jeworrek told analysts that the €4.8bn premium share from its risk solutions segment was down from €5bn. The…
Emerging markets, in particular emerging Asia, will drive premium growth in non-life business in the next couple of years, according to Swiss Re. Emerging market non-life premium growth will hit 6.7% in 2018, with Asia delivering 9% growth.
As many international corporate and commercial insurers struggle to find a way to make a decent return and deliver growth, Berkshire Hathaway Specialty Insurance seems to be able to buck the trend and continue to surge forward without making acquisitions. Adrian Ladbury asks: how and why is this possible? The continued process of consolidation and mergers and acquisitions [M&A] in…
Franck Baron, chairman of the Pan-Asia Risk and Insurance Management Association (Parima), has joined fellow risk management leaders across the globe and issued a warning to insurers not to cease investment in service and innovation as they seek to cut costs as margins tighten.
Commercial Risk Asia talks to David Piesse about the best way to manage cyber risk, the potential of insurtech and the lessons that Asia can learn from Estonia.
AIG is selling its businesses in central and eastern Europe (CEE) and much of Latin America to Fairfax Financial Holdings Ltd in a deal that will see the US giant stop writing local business in these territories, but it still plans to provide full access to these markets for multinational clients via a network partnership with the Canada-based insurer.
Dr Christopher Lohmann knows Allianz well. he has worked at Allianz Global Corporate & Specialty (AGCS) for more than three and a half years, bringing his total stint at Allianz Group to 17 years. Last year, his remit as AGCS’s CEO of central Europe – Germany, Switzerland and Austria – was expanded to include eastern Europe. Dr Lohmann now covers 17 markets in eastern Europe, of which nine are a big focus/
Natural disasters across the world took a heavy toll last month with insurance costs expected to exceed $7bn as flood losses mount in northern Europe.
Aon Benfield’s catastrophe model development team, Impact Forecasting, has launched a new version of its Polish flood model to help better understand the financial impact of floods in Poland. The broker said the new model will help meet increased demand for flood insurance in the country.
Political instability is expected to continue into 2015, with Russia and Nigeria among the countries to watch, as well as high levels of terrorist violence and civil unrest, according to risk consultant Verisk Maplecroft.