Reinsurance News
Russell Group
There is enough data to create models and insure cyber risks: Russell Group
20th September 2023
With cyber being one of the top emerging risks for the re/insurance industry, some believe there are still many challenges to overcome, one of them being the creation of models to make it insurable, as it is argued there is not enough data yet to support them. Data and analytics firm ... Read the full article
Complex threats require more proactive risk management & decision making: Russell Group
10th September 2023
As rising costs, claims inflation and cost of capital continue to rise, pushing up economic exposure, greater resilience and sustainability is needed through more proactive risk management and decision making, according to Russell Group. Data and analytics firm Russell Group, during its press briefing at the 2023 Rendezvous in Monte Carlo, ... Read the full article
Strait of Hormuz tensions could drive $227bn loss in crude oil exports: Russell Group
9th May 2023
Iran has seized an oil tanker in the Strait of Hormuz in the second such incident in the region in a week, as tension with the United States continues, something the Russell Group says could lead to financial stress for the oil and maritime sectors. The Middle East-based US 5th Fleet ... Read the full article
Iskenderun port fire expected to generate $679mn of trade disruption: Russell Group
10th February 2023
According to data from Russell Group, the container fire at the Port of Iskenderun, Turkey will cause a loss in trade of around $679 million (£562.85 million). A further analysis from the data and analytics company also shows that a $36.7 million (£30 million) disruption in Iron and Steel exports and ... Read the full article
Russell Group appoints weather analytics veteran as Head of Connected Risk
20th October 2022
Data and analytics company, Russell Group has appointed former CEO of weather analytics and insights modelling firm MetSwift, James Banasik, as Head of Connected Risk. Banasik’s appointment is part of a strategic transformation by Russell Group to provide its re/insurance clients, and corporate working group with the forward-looking data sets that ... Read the full article
Supply chain chokepoints threaten consumers, countries and reinsurers – Russell
24th June 2022
Supply chain chokepoints are a threat to consumers, nation states and the re/insurers that need to understand their potential risk accumulations, according to a new Russell report. Navigating a Path Though Accumulating Marine Exposures looks at the world's largest ports and identifies several international chokepoints. ... Read the full article
Shanghai lockdown a $28bn global trade hit: Russell
6th May 2022
The current Shanghai Covid lockdown has created severe delays at the port, delivering a $28 billion hit to global trade, with clothing and textiles industries having the most exposure, according to analysis by Russell Group, a data and analytics company. Recent COVID flare-ups across China have caused huge disruption both to ... Read the full article
“Russian nationalisation of stranded planes biggest risk to London market” – Berenberg
16th March 2022
The greatest risk to the London insurance market could be in the aviation lines due to Russia’s nationalising of planes trapped within its borders due to international sanctions. In recent days, the Russian state has moved to deal with the issue of the 500+ leased jets that cannot leave the ... Read the full article
Western planes worth $13bn stranded in Russia, analysts say
10th March 2022
Analysts at data and analytics company Russell Group have reported that 589 Western-built aircraft with a market value of approximately $13 billion are currently on the ground in Russian airports. Flights to and from Russia have been banned by nearly all Western nations in response to the country’s widely-condemned invasion of ... Read the full article
Shanghai port disruption a BI concern for re/insurers: Russell Group
21st January 2022
Analysis by risk management organization Russell Group shows that current port congestion at Shanghai is costing an estimated $4.5 billion a week in lost trade, opening the door to both supply chain and business interruption risks. The firm says this is a “clear worry” both for insurers and reinsurers, who could ... Read the full article
Billions of dollars of imports at risk due to port, supply issues: analysts
18th October 2021
Analysts at risk modelling company Russell Group have warned that just under $2 billion of UK trade imports could be impacted in the run-up to Christmas if the current ports delays at Felixstowe continue into December. But with supply chains coming under pressure globally, losses will likely be acute elsewhere as ... Read the full article
Trade disruption likely to continue, Chinese energy issues a factor: Russell
11th October 2021
Analysts at risk modelling company Russell Group have warned that $120 billion of trade flows could be delayed, with ongoing Chinese power shortages a major factor. Shortages have already caused factories in the provinces of Jiangsu, Guangdong and Zhejiang to shut down or move to a three-day week, many of which ... Read the full article
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