Aon strengthens Japan market commitment through new M&A deal
Supply chain cyber attacks are on the rise, becoming the new ransomware of the digital world. According to recent data, these attacks have increased five-fold in the past few years, highlighting the growing threat to businesses and organizations.
In the reinsurance sector, Britannia P&I is looking to implement a minimum rate gain of 7.5% from its members in the upcoming year. This move reflects the challenges and changes within the industry as companies navigate evolving risks and market conditions.
Zurich’s CEO Greco emphasized the complexities of the property market, noting that while it may appear stable, it requires constant attention and management to ensure protection against potential risks and liabilities.
Zurich is focusing on targeting mid-market and specialty sectors as part of its commercial growth strategy. By honing in on these areas, the company aims to strengthen its position and expand its presence in key market segments.
Deutsche Rück has named an international head as its next CEO, signaling a strategic leadership transition within the organization. This move comes as the company positions itself for future growth and innovation in the reinsurance market.
Tokio Marine has reported a 14% increase in half-year profits in the global non-life insurance sector. This growth reflects the company’s strong performance and success in navigating market dynamics and challenges.
Lloyd’s noted that the re/insurance market remains stable and balanced in the first half of the year, providing a solid foundation for continued growth and resilience in the face of changing market conditions.
S&P Global projects that global cyber insurance premiums could reach $23 billion by 2026, underscoring the increasing importance of cyber risk protection in today’s digital landscape.
Aviva is reportedly considering a bid for Direct Line, with analysts suggesting that the company has a strong case and is offering a competitive price in this potential acquisition deal.
California’s CEA has decided not to renew a $511 million reinsurance treaty, signaling a shift in reinsurance practices and strategies within the region as companies reassess their risk management approaches.
Gallagher has appointed an ex-Allianz veteran as the chair of Pen Underwriting, as part of its expansion efforts to strengthen its position and capabilities in the insurance market.
The CEA has enlisted the help of broker Gallagher to streamline its reinsurance processes and enhance the efficiency of its operations, reflecting a strategic partnership aimed at driving growth and innovation within the organization.
