Total capital dedicated to reinsurance grew by 7% to reach $658bn (£490bn) last year worldwide, while there were also signs of an underlying improvement to the industry's combined ratio.
Global insured losses from wildfires, flooding and other natural disasters increased by 50% last year amid ongoing climate change and urbanisation, Swiss Re has revealed.
Insurance technology companies attracted a record $7.1bn (£5.15bn) of investment across 377 deals last year, analysis by Willis Towers Watson (WTW) has revealed.
Around two-thirds of the economic losses resulting from natural disasters last year were not covered by insurance, and the protection gap continues to grow due to the world's changing climate.
Insurance companies suffered significantly higher losses from natural disasters in 2020 than they did the previous year, research from Munich Re has revealed.
Lloyd's of London has published a number of ways for the insurance industry to fast-track a global economic and societal recovery from COVID-19 and prepare for future pandemics.
The Federation of European Risk Management Associations (FERMA) has called on the European Commission to create a resilience framework to address a “severe shortage” of business interruption insurance without physical damage (NDBI).
