Reinsurance News
political risk
Allianz launches global program to combat polarisation in societal institutions
18th November 2024
Following an active electoral year worldwide, Allianz has announced the launch of “Power of Unity,” a global program aimed at restoring trust in societal institutions and fostering confidence in a better economic future. According to Allianz Research’s Social Resilience Index 2024, polarisation and social unrest have increased in many countries, carrying ... Read the full article
US faces highest risk of unrest since 2020 protests, says Verisk
10th October 2024
As the US presidential election approaches, the potential for political violence, including large-scale protests, is increasing due to the current volatile political landscape, according to data from Verisk’s global risk unit. This election is one of the most volatile in recent history, marked by two assassination attempts on Republican nominee Donald ... Read the full article
AM Best outlook on Peru’s insurance market remains stable
25th September 2024
Credit rating agency AM Best has maintained a stable outlook on Peru’s insurance industry despite the growing perception of risk related to political instability in the country. According to the Best's Market Segment Report titled "Market Segment Outlook: Peru Insurance," Peru's insurance industry has been resilient in the face of political ... Read the full article
William Shaw becomes Texel Deputy CEO with Jonathan Crossfield as CFO
17th July 2024
The Texel Group, a specialist credit and political risk insurance broker, has announced a number of senior appointments, including William Shaw’s promotion to Deputy CEO. Based in London, Shaw was promoted to his new role from his Managing Director of Texel Asia PTE ltd (Texel Asia) position in Singapore. Taking over the ... Read the full article
Texel welcomes du Toit and Jesensky to London team
15th July 2024
The Texel Group, a specialist credit and political risk insurance broker, has announced the appointment of Ivan Jesensky as its first digitisation broker and Michaela du Toit, who has joined as a broker. Based in London, Jesensky will be reporting to Simon Bessant, Head of Insurance and a Director at Texel. ... Read the full article
French insurers’ ratings remain stable amid ongoing political uncertainty: Fitch
2nd July 2024
Fitch Ratings, a financial analysis and credit rating agency, reports that the political uncertainty in France, stemming from President Emmanuel Macron's call for an early parliamentary election, has not impacted the ratings of French insurers. Although a potential increase in sovereign-related risks might challenge certain factors influencing insurers' ratings, most insurers ... Read the full article
Mark Houghton joins Canopius as Global Product Leader, Specialty
18th June 2024
Canopius, a global specialty and P&C (re)insurer, has announced the appointment of Mark Houghton to the newly created role of Global Product Leader, Specialty. Starting in October, Houghton will oversee the governance, performance, and standards of Canopius’ specialty underwriting lines across the business. He will also drive product development and innovation while ... Read the full article
Proactive risk management key for 2024: Gallagher
17th June 2024
(Re)insurance broking group Gallagher's new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil unrest, terrorism, and political violence due to upcoming elections worldwide. In the UK, environmental activism has caused ... Read the full article
CFC launches Carbon Cancellation Insurance
13th June 2024
CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled or invalidated due to political risks such as regulatory changes or ... Read the full article
Companies prepare for political risks during continued global turbulence: WTW
22nd May 2024
Against the backdrop of ongoing global instability, companies intensify their focus on risk management, adapting strategies to navigate evolving threats, reports insurance and reinsurance broker WTW. Following a year in which nearly a fifth of companies had to restate earnings due to geopolitical events, 2024 proved challenging as well, with 69 ... Read the full article
Antares syndicate launches credit & political risks consortium with $40m maximum line
8th April 2024
Antares Syndicate 1274, the re/insurance subsidiary in the Lloyd's market of QIC's Antares Global, has launched a consortium for the underwriting of credit and political risk insurance. The consortium, already actively considering submissions, draws on the established credit risk expertise and respected analytical capabilities of Antares’ political & financial risk team. Initially, ... Read the full article
Mosaic expands its political risk coverage to the US
28th March 2024
Mosaic Insurance, a specialist firm, has extended its political risk coverage to the US market and launched a new insurance product named Arbitration Award Default Insurance (AADI), offering a global coverage limit of $65 million. AADI is designed to compensate parties in cases where sovereign states breach investment treaties or contractual ... Read the full article
Rising demand for political risk insurance amidst surging global elections: Chaucer
15th February 2024
Chaucer, a re/insurance company owned by China Re, forecasts that 2024 will bring heightened political risk due to a surge in scheduled elections worldwide. This escalation raises concerns about potential political upheaval, prompting an increased demand for political risk insurance among businesses globally as they seek to protect themselves. Consequently, the ... Read the full article
Political violence, terror, SRCC a concern: Patrick Tiernan, Lloyd’s
22nd September 2023
Addressing Lloyd's participants and partners, Patrick Tiernan, Chief of Markets, suggested that the marketplace was disappointed with the response of many syndicates to tightening reinsurance coverages in the specialty space, and in particular within political violence, terror, and strikes, riots and civil commotions (SRCC). Speaking at Lloyd’s latest quarterly market update ... Read the full article
Cost-of-living crisis fuels political turmoil: WTW
11th July 2023
"Protest intensity in 2022 and the first quarter of 2023 correlate most strongly with rising energy prices, slower real wage growth, and the proportion of wages set by collective bargaining," suggests WTW. This is according to the firm's latest Political Risk Index, which noted that in 2023, intense cost-of-living protests struck ... Read the full article
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