Major Chinese insurers are unlikely to face a crisis due to the country's falling property market, however the extent of exposure for smaller and privately backed players is unclear.
The global cyber insurance market is expected to reach $23bn by 2025, but will require a high degree of market collaboration to maintain healthy profit margins.
Sources allege that executives at Sompo, including the President, encouraged a continuation of transactions despite concerns surrounding the used car dealer's practices.
OnePath and Zurich have jointly submitted an application to the Federal Court of Australia, with the expected completion of the transfer projected for December 1, 2023.
APRA’s 2023-24 Corporate Plan sets forth strategies to bolster the continuity of financial services amid rising threats, with cyber-attacks and climate-related financial risks both key concern.
