Climate Insurance
Global insurance protection gap hits 60% amidst warming
Global insurance protection gap hits 60% amidst warming
Total economic losses exceeded $350b in 2024.
31 minutes ago
Australia sets up claim centre for customers affected by severe storms
The hub is located in Townsville and is open until 15 February.
Insurance sector to aid in New Zealand climate policy development
The CE said a large portion of NZ-ers live in high-risk areas.
Global reinsurers stable despite LA wildfires – S&P
But primary insurers are expected to withstand the losses.
Parametric insurance market to grow 12% by 2032
AXA and Munich Re are leading the parametric insurance market.
Allianz reveals top business risks for 2025
Natural catastrophes held the third spot in Asia.
FM Global stresses insurance readiness amidst extreme weather in Asia
La Niña could emerge weakly in late 2024 and early 2025.
HKU Business calls to advance climate insurance in Hong Kong
Asset losses from sea level rise could surpass those caused by typhoons.
Flood insurance market set to grow at 14.5% CAGR by 2032
The region is expanding rapidly due to urbanisation.
Climate change drives $600b in insured losses over 20 years
28 leading global insurers saw climate-related losses reach $10.6b.
Insurers shift focus to more specific climate-related issues
Sustainability-focused frameworks in underwriting practices have grown by 120% since 2022.
Climate change alters insurer risk management: S&P
Secondary perils have caused the reinsurance industry to regain capital in 5 of 6 years.
Flood infrastructure saves 10x rebuilding costs
Climate change is expected to drive up these losses further.
PCRIC, WTW enhance pacific disaster coverage
PCRIC will provide coverage against tropical cyclones, heavy rain, earthquakes, and tsunamis.
2024 insured losses exceed decade average at $108b
Total economic losses for the first three quarters reached ~$280b.
Milton’s $50b losses won't impact rated insurers: Fitch Ratings
This will bring 2024’s total global insured losses to over $100b.
Hurricane Milton could add to insurers’ $60b NatCat losses in 2024
Global reinsurers could see their claims payouts rise.
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1. MSIG Asia, RiskPoint bet on renewable energy insurance 2. UOI proposes $8.9m final and special dividends for FY2024 3. Global insurtech funding hits seven-year low in 2024 4. Singapore's life insurance workforce shrinks by 2.3% in 2024 5. Wealthy Chinese use insurance for legacy-planningResource Center
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Ageing populations and rising mortality main concerns for life insurers and reinsurers