Elevated levels of civil unrest to continue in 2020, warns Maplecroft

Elevated levels of civil unrest to continue in 2020, warns Maplecroft

Elevated levels of civil unrest to continue in 2020, warns Maplecroft

The world experienced a big increase in civil unrest during 2019 and this trend could be the “new normal”, according to the latest Civil Unrest Index from political risk analysts Verisk Maplecroft. A quarter of the world’s countries saw significant increases in civil unrest last year, with notable violent outbreaks in Hong Kong, Lebanon and Chile. The number of countries…

Cyber risk tops AGCS Risk Barometer in Asia-Pacific, climate change on the rise

Cyber risk tops AGCS Risk Barometer in Asia-Pacific, climate change on the rise

Cyber risk tops AGCS Risk Barometer in Asia-Pacific, climate change on the rise

Cyber risk has perhaps unsurprisingly toppled business interruption (BI) as the number one risk for risk executives within the Asia-Pacific region, according to the Allianz Global Corporate & Specialty (AGCS) Risk Barometer 2020. The Risk Barometer is based on a survey of some 2,700 risk professionals worldwide and is now in its ninth year. BI has regularly topped the list…

Peak Re upgrades $77m sidecar and underlines Hong Kong potential as ILS hub

Peak Re upgrades $77m sidecar and underlines Hong Kong potential as ILS hub

Peak Re upgrades $77m sidecar and underlines Hong Kong potential as ILS hub

Peak Re, a Hong Kong-based reinsurance group, has announced that investors have backed increased investment in Lion Rock Re, the capacity vehicle it launched last year that was the first sidecar transaction in Asia. “Following on from last year’s groundbreaking placement of Lion Rock Re, Asia’s first reinsurance sidecar transaction, Peak Reinsurance Company is pleased to announce that investors have…

Chinese broker to raise $15m to help fund expansion into risk management market

Chinese broker to raise $15m to help fund expansion into risk management market

Chinese broker to raise $15m to help fund expansion into risk management market

TRX Insurance Brokers, a Beijing-based multi-line insurance brokerage with a network of 40 insurers that plans to expand into the institutional risk management market, has filed with the US Securities and Exchange Commission to raise up to $15m through an initial public offering, a statement on the Nasdaq confirmed. The company was founded in 2010 and booked $3m in sales…

Tesco Christmas card shock increases pressure for tighter supply chain rules

Tesco Christmas card shock increases pressure for tighter supply chain rules

Tesco Christmas card shock increases pressure for tighter supply chain rules

Calls for stronger EU rules covering human rights in global supply chains will have got louder this week as UK supermarket group Tesco was forced to suspend production of charity Christmas cards at a factory in China, after a six-year-old girl found a plea for help from workers inside a card. Risk and insurance managers have become increasingly involved in…

Best practice for Belt and Road megaprojects

Best practice for Belt and Road megaprojects

Best practice for Belt and Road megaprojects

The Belt and Road’s major infrastructure and energy projects stand to benefit from the support of risk and insurance partners during the lifecycle of a project, explains Brian Botkin, global head of multinational, global financial lines, AIG. China’s Belt and Road Initiative (BRI) continues to attract international attention and grab headlines. Determining exact figures for the vast macroeconomic initiative is…

Confidence and risk both set to rise sharply in Asia next year

Confidence and risk both set to rise sharply in Asia next year

Confidence and risk both set to rise sharply in Asia next year

Asian companies expect to see a sharp spike in business confidence as they enter 2020, with 76% of firms expecting to be confident by May 2020 despite ongoing political problems in Hong Kong and China’s trade war with the US, according to a survey carried out by insurer CNA Hardy. The insurer said that given the political instability in Hong…

Hong Kong insurers: premium and underwriting profit growth for first nine months

Hong Kong insurers: premium and underwriting profit growth for first nine months

Hong Kong insurers: premium and underwriting profit growth for first nine months

The Hong Kong insurance industry saw total gross premiums of $436.9bn for the first three quarters of 2019, according to provisional statistics released by the Hong Kong Insurance Authority. This amounted to an increase of 12.5% over the corresponding period in 2018. The gross and net premiums of general insurance business in the first three quarters of 2019 were $44.4bn…

Global P&C insurers hold on to stable outlook for 2020

Global P&C insurers hold on to stable outlook for 2020

Global P&C insurers hold on to stable outlook for 2020

The global property and casualty (P&C) industry has retained its stable outlook for 2020, despite increasing claims costs and low investment returns pressuring profits, according to ratings agency Moody’s. Economic growth, though slowing down, coupled with solid levels of capitalisation and “constructive” pricing trends have driven the stable outlook, Moody’s said. The top five markets by premium – the US,…

Stable outlook for China’s P&C insurance industry in 2020 – Moody’s

Stable outlook for China’s P&C insurance industry in 2020 – Moody’s

Stable outlook for China’s P&C insurance industry in 2020 – Moody’s

Moody’s is maintaining a stable outlook for China’s property and casualty (P&C) insurance industry in 2020, as a result of diversifying business growth, stable profitability and strong risk-based capitalisation. But it warned that rapid growth in non-motor lines and potential acceleration in motor pricing liberalisation pose key risks. “China’s P&C insurers continue to record strong growth in their non-motor lines,…

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