Balanced Re/insurance Market Ensures Stable Future for Lloyd’s

Supply chain cyber attacks are on the rise, becoming the new ransomware of recent years. According to reports, there has been a significant increase in these types of cyber threats, up a staggering 5 times compared to previous years.

Britannia P&I is looking to increase rates by at least 7.5% from its members in the upcoming year. This move is aimed at strengthening the financial standing of the organization and ensuring its sustainability in the market.

Zurich’s Greco emphasizes that while the property market may appear stable, it is never without risks. It is essential for companies to remain vigilant and prepared for any unexpected challenges that may arise in the industry.

Zurich is focusing on expanding its presence in the mid-market and specialty sectors as part of its commercial growth strategy. By targeting these areas, the company aims to capitalize on emerging opportunities and strengthen its position in the market.

Deutsche Rück has appointed an international head as its next CEO, signaling a new chapter for the organization. This strategic move is expected to drive growth and innovation within the company.

Tokio Marine has reported a 14% increase in half-year profits in the global non-life insurance sector. This positive performance reflects the company’s strong financial standing and effective business strategies.

Industry experts predict that global cyber insurance premiums could reach $23 billion by 2026, highlighting the increasing importance of cybersecurity in today’s digital landscape.

Aviva is said to have a strong case and a reasonable price in its bid for Direct Line. This potential acquisition could significantly impact the insurance market and shape the future of the industry.

California’s CEA has decided not to renew a $511 million reinsurance treaty, signaling a shift in its reinsurance strategy. This decision could have implications for the organization’s risk management practices moving forward.

Gallagher has appointed an ex-Allianz veteran as the chair of Pen Underwriting, showcasing the company’s commitment to driving growth and expertise within its leadership team.

PIB Group has acquired a Dutch broker as part of its European expansion strategy. This move is aimed at strengthening the company’s presence in key markets and enhancing its service offerings to clients.