Swiss Re
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Real non-life premiums are forecast to grow by 1.8% in 2023 and 2.8% in 2024. -
Global cyber premiums are expected to reach $23bn by 2025 but, with predicted global annual losses of around $945bn, roughly 90% of the risk remains uninsured.
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The carrier is likely to book a Q3 net loss of $500mn for the storm.
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The reinsurer said it will look to double rates and retentions and halve the amount of override on casualty quota shares.
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The transport sector has the largest investment gap, needing an estimated $114tn to build greener infrastructure.
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The storm is not expected to be a threat to the order of Jebi or Hagibis.
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The carrier said geopolitical factors had given “new urgency” to the green transition.
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Insured losses in 2021 alone hit $20bn.
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If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago.
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Inside P&C revealed in late May that Luna was succeeding Juan Manuel Merchan, who stepped down earlier this year to become CEO at Seguros Equinoccial.
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The carrier mapped out the future threat landscape for insurers as part of its annual Sonar report.
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Sources said Luna will succeed Juan Merchan, who last month stepped down after over a year in the position to become CEO at Ecuadoran carrier Seguros Equinoccial.
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