The industry’s blockchain project, B3i, has ceased activities and filed for insolvency following unsuccessful funding rounds. “The directors, following consultation with the shareholders, have collectively concluded that there was not sufficient support to continue with the venture at this stage,” …
Swiss Re’s economists predict “inflationary recessions” hitting major world economies over the next 12-18 months, and while recessions spell less insurance demand and inflation means higher claim costs, inflation will also drive a continued hard market, they say. The forecasts …
Ditching investments in fossil fuel businesses—and denying them insurance—aren’t the only ways for the insurance industry to participate in the drive to net zero greenhouse gas emissions, according to representatives of global insurers and reinsurers. Even those companies that are …
The global community continues to deal with known challenges such as the pandemic, the war in Ukraine, economic turmoil and failing trust in established social institutions. But a report from Swiss Re reminds re/insurers there are new emerging risks on …
The insurtech industry has been around for about a decade, and experts say that while it has succeeded in bringing new entrants into the industry, it has struggled at times with distribution and customer acquisition. This is where embedded insurance …
The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to …
Investors managing $14 trillion have urged the United Nations to create a global plan to make the agriculture sector sustainable and curb one of the biggest sources of climate-damaging emissions, a letter seen by Reuters showed. Food production accounts for …
Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges …
Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war, according to Fitch Ratings in a …
Premium rates for natural catastrophe risks in Florida continue to be inadequate, which is why Swiss Re is giving that market a wide berth — for the time being, at least. “Historically we believe the Florida market has been underpriced …
