While Asian companies have less exposure to Russia and Ukraine than their European peers do, rising oil prices will impact both businesses and consumers as a consequence of the invasion, reported Nikkei Asia.
There is a positive correlation between insurance companies’ credit ratings and their cybersecurity, according to a new report from Fitch Ratings.
Global reinsurers have weathered pandemic impacts well, but amid other growing challenges brought on by climate risk, social inflation and other types of perils, companies need to maintain an innovative mindset, according to a new AM Best report capturing the views of panelists from a recent reinsurance industry briefing.
The ongoing pandemic has resulted in many restrictions on travel. With the vaccination drive and Covid-19 precautionary measures being implemented, travel is making a comeback and hence, the important question: “Do I need travel insurance?”
There’s no question the pandemic has shaken up the travel industry, but how much? Below, find out just how different vacations are looking these days and how some changes may persist in the future.
For the upcoming rounds of reinsurance renewals in the Asia-Pacific region on 1 January 2022 and 1 April 2022, Hannover Re anticipates stable reinsurance conditions and prices with more pronounced positive changes for treaties that were affected by the COVID-19 pandemic or other losses.
The negative impact of rising inflation on the insurance industry’s financial position is leveraged and multi-faceted affecting both profitability and capital position, says Willis Re in a note which is titled “Global (re)insurance: Underlying profitability improves at H1 but inflation and rate deceleration remain concerns”.
The increased frequency and severity of natural catastrophes due to climate change highlight the greater role of Asian reinsurers in bridging the region's protection gap between the economic losses brought about by natural disasters and insured losses, Fitch Ratings says.
Acccording to the latest sigma report titled “World insurance: the recovery gains pace” by Swiss Re, many respondents to a consumer survey feel under-insured and aim to buy more protection, despite most owning medical and life insurance.
Fitch Ratings has conducted a peer review of six composite insurers in the Asia Pacific region and assessed their profitability to be 'Very Strong' to 'Good'.