Global economy and insurance market forecast for 2024-2025
Global economic growth will slow in 2024 due to tightening monetary policy and weakening growth rates.
Global reinsurance premiums will continue to grow in 2024
S&P Global raised its rating on the global reinsurance sector from negative to stable due to higher reinsurance rates and rising investment returns, while Moody's kept its outlook for the sector stable.
The Verkhovna Rada adopted the law on insurance of investments in Ukraine against war risks
The Verkhovna Rada of Ukraine adopted draft law No. 9015 on the insurance of investments in Ukraine against military risks.
Global insurance market growth forecast for 2024-2025
Overall global insurance premium growth is forecast at 2.2% annually on average over the next two years, higher than the five-year average (2018-2022: 1.6%)
Warranties and war risk insurance for investing in Ukraine now
The Government of Ukraine is cooperating with key international institutions to create favorable conditions for investing in Ukraine right now.
Key trends of 2024
Insurers identified key trends that will shape the insurance landscape in 2024.
In the third quarter, the InsurTech sector attracted $1.1 billion in funding
For the third quarter of 2023, companies from the insurance technology sector InsurTech attracted $1.1 billion in funding worldwide
Elements of an effective cyber insurance market and analysis of cyber risk insurance data and trends
The Property-Casualty Insurance Association of America (APCIA), in collaboration with CyberAcuView, has released a comprehensive analysis of data and trends in the cyber insurance market.
The first insurance projects against military and political risks have already begun to be implemented in Ukraine
The first insurance projects against military and political risks have already begun to be implemented in Ukraine thanks to cooperation with international financial organizations and national export credit agencies of partner countries
How the war in Ukraine affects the global insurance sector
The last two years are the most difficult years in recent decades in terms of the social, financial and political environment.
The cost of insuring ships against military risks passing through the Black Sea is decreasing
Ukraine's active recovery of shipments through the alternative sea corridor of the Black Sea is gradually reducing the cost of ship insurance.
Digitization is the source of the growth of insurers and the efficiency of the insurance industry
Digitization is a source of new growth, new risks and new efficiencies for the insurance industry. The creation of digital value has led to an increase in the intangible assets of companies, including digital data.
The International Union of Marine Insurance named the main risks for the industry
The annual conference of the International Union of Marine Insurance (IUMI) was held in Edinburgh, Scotland, where participants identified the most important risks for the marine insurance industry.
The war in Ukraine and systemic cyber threats are creating challenges for the global insurance market
Війна в Україні створила складну мережу ризиків і геополітичних альянсів, де національні стратегічні інтереси тимчасово залишилися осторонь, щоб визначити напрямок на транснаціональному рівні.
Global reinsurance prices are poised to grow across all sectors in 2024
Global reinsurance prices are poised for further growth across all sectors in 2024, continuing the recent trend.