Global Economy
Inflation A ‘Major and Growing Concern’ for Reinsurers
With buyers' needs for capacity stable and remaining within the collective appetites of reinsurers, April 1 reinsurance renewals were orderly, according to a broker report, which points to inflation ...
Financial Market Volatility of Russia-Ukraine War Likely to Impact European Insurers
According to Fitch Ratings, the Russia-Ukraine war is more likely to affect the European insurance sector through second-order financial market volatility than through direct effects from sanctions. ...
Social Media a Key Driver of Political Risk in Emerging Markets: WTW
New technology such as social media has become a key driver of political risk in emerging markets, according to Willis Towers Watson's Political Risk Index Winter Update. The report notes that ...
FWD Group Cancels U.S. IPO Plan, Pivots to Hong Kong Instead
FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing ...
Financial Council Warns Climate Change, Stablecoins Are Systemic Risks
Climate change, the rapid growth of "stablecoins" and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit ...
Offshore Wind Project Spurs Legal Challenge From Oil Lobby and U.S. Fishing Industry
Members of the U.S. commercial fishing industry are teaming up with an oil industry-backed lobbying group to fight offshore wind energy development on the East Coast, according to documents reviewed ...
Zurich Will Acquire AlphaChat, an Estonia-Based Conversational AI Company
Zurich Insurance Group agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the ...
Swiss Re Reorganizes Group Operations; Names Ladva as Group CTO
Swiss Re is appointing Pravina Ladva as group chief digital & technology officer and member of the group executive committee, effective Jan. 1, 2022. Group Chief Operating Officer Anette Bronder ...