WTW, a leading global advisory, broking and solutions company today announced a partnership with Ukrainian insurer, VUSO, to provide a London market backed facility covering cargo and, crucially, war-on-land risks.
Tag: Ukraine war
Insurers and Owners Battle Over Who Pays for Planes Stranded at Start of Ukraine War
Russia’s seizure of billions of dollars worth of foreign-owned planes has set off the biggest-ever brawl in the normally staid business of aircraft insurance.
Climate Change, War-Related Risks Top Insurers’ Concerns
Climate change remains the top concern for insurance companies, even as Russia’s invasion of Ukraine fuels geopolitical and energy-related concerns. For the second year in a row, global warming is regarded as the greatest threat to society in the next five to ten years, according to a report released Sunday by French insurance giant AXA… Continue reading Climate Change, War-Related Risks Top Insurers’ Concerns
Geopolitical Risk Spikes Leaving Business Leaders Fearing the Consequences of War and Inflation
Beazley’s latest Risk & Resilience research into geopolitical risk, published today, shows that events so far this year have significantly altered business leaders’ perceptions of the risks they face and their resilience to those risks, which has fallen dramatically since 2021. The impact of inflation is also causing deep concerns about domestic stability alongside the… Continue reading Geopolitical Risk Spikes Leaving Business Leaders Fearing the Consequences of War and Inflation
Allianz Takes $430 Million Profit Hit in Retreat from Russia
Allianz SE will take a hit of about 400 million euros ($430 million) to profit from the sale of a majority in its Russian operations, part of a retreat from the country in the wake of the war in Ukraine. Allianz, which is selling the stake to Interholding LLC, will own 49.9% in the combined… Continue reading Allianz Takes $430 Million Profit Hit in Retreat from Russia
German Insurance Industry Cuts Outlook in Wake of War
The German Insurance Association (GDV) has downgraded its forecast for the industry for 2022 in the wake of the war in Ukraine. The GDV now expects annual premium income to grow 2.3% this year, down from previous expectations of 2.7%, it told Reuters on Thursday. “The direct effect on German insurance companies due to the… Continue reading German Insurance Industry Cuts Outlook in Wake of War
PCS Says Ukraine Insured Losses Could Rise Above $20B
According to analysis from PCS, a Verisk company, the ultimate insurance and reinsurance industry loss from the ongoing conflict in Ukraine could exceed $20 billion. This provides some data the ILS market may find useful in understanding what, if any, exposure its structures may hold. With the conflict still ongoing and war raging in the… Continue reading PCS Says Ukraine Insured Losses Could Rise Above $20B