AM Best's APAC reinsurance composite shows combined ratio improved from 94.5% in 2022 to 91.6% in 2023, off the back of favourable earnings and absence of major cat events.
The application of AI can allow benefits including hyper-personalisation of products, but guardrails are key, experts said during an SAP Fioneer webinar.
Big three P&C insurers benefit from economies of scale and brand recognition which creates a challenging environment for small and medium size insurers.
Reinsurers and life firms face the biggest impact of an accounting change which moves the industry away from relying on Gross Written Premiums as a way of reporting revenue.
Marsh, Zurich whitepaper outline three-part plan to expand cyber coverage by strengthening resilience, quantifying cat risks, and increasing public-private partnerships.
