Natural disasters in 2023 led to $250 billion in economic and $95 billion in insured losses
Total losses were in line with the five-year average, while insured losses were slightly below the average figure of $105 billion.
The Law on Insurance of Investments Against Military Risks has entered into force in Ukraine
On January 1, 2024, the Law of Ukraine on insurance of investments against war risks through the Export Credit Agency (ECA) entered into force
The International Association of Insurance Supervisory Authorities IAIS named the key risks of the global insurance market
The International Association of Insurance Supervisors (IAIS) has published its Global Insurance Market Report 2023 (GIMAR), which highlights the key risks and trends shaping the global insurance sector.
Reinsurers report increased demand for property reinsurance in 2024
Reinsurers report increased demand for property reinsurance in 2024 Renewals of reinsurance contracts from January 1, 2024 are much more orderly than a year ago
Global insurance market. Overview of products and regional trends for 2024
The year 2023 was characterized by geopolitical turbulence, inflationary pressures and events related to global warming.
The international insurance market is ready to work in Ukraine
The first projects related to the mechanism for reducing the cost of marine transportation insurance in the territorial waters of Ukraine are already being implemented together with the insurance market, which contributes to the safety of marine transportation and increasing the volume of Ukrainian exports.
Tariffs for reinsurance of property risks will continue to grow in 2024
The Amwins Reinsurance Market State and Forecast to 2024 report shows that the reinsurance landscape is undergoing little change with notable rate growth in the property and casualty reinsurance sectors.
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.