CLIMATE AND SUSTAINABILITY
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NewsDWIC 2023: Spotlight on skills and talent
On the back of the DIFC’s Talent Week, a panel of experts discussed the skills gap and how to close it
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DWIC 2023: Insurers are 'on the frontline' in the climate crisis
The insurance industry must “drive the pathway to net zero”, explained Dame Susan Rice in a fireside chat
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DWIC 2023: ‘Force’ needed to spark industry climate action
As the consequences of climate change endure, further industry regulations will be required to halt its effects
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‘Be part of climate conversation,’ DWIC 2023 delegates urged
With COP28 heading to the city in November, this year’s DWIC opened with a rallying cry for the industry to focus on the climate
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Ariel Re sponsors third cat bond with carbon offset feature
Titania Re III provides $125m of protection for named storms and earthquakes in the US and Canada
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Report tackles climate modelling uncertainty
Regulators have different approaches, resulting in a lack of consistency and hindering re/insurers efforts
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Chaucer will “embed” ESG into underwriting model
The company intends to embed a pre-bind tool to determine the ESG score of prospective clients
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Specialty MGA UK buys specialist crop and forestry insurer
Merger offers access to Lloyd’s and worldwide markets as investors focus attention on forestry for carbon sequestration
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Cyber war exclusions top industry’s list of concerns for 2023
Climate change and ESG responsibilities will also shape the direction of travel this year, predicts RPC
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2022 nat cats set new records with $120 billion in claims
Hurricane Ian accounted for half of insured losses, making it the second most costly storm in history - Munich Re
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Chubb launches dedicated climate transition unit
The unit brings together traditional, alternative and renewable energy, climate tech, agribusiness and risk engineering
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Property rates set to soar 50% at 1/1 - Beazley
Beazley is ready to ‘step up’ at a time of market dislocation, says Treaty head Patrick Hartigan
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Climate change justifies 50% property cat rate hikes - EY
Cat events have cost UK re/insurers more than double over the past six years than the preceding decade
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Insurance sector ‘perfectly positioned’ for carbon removal action – Swiss Re
Swiss Re’s senior risk manager advises underwriters to not be ‘scared’ of providing cover for carbon removal
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Fresh protests in the City over controversial coal project
It follows a tip-off that Probitas1492 is insuring the Adani Carmichael’s thermal coal project rail line, haulage operation and port
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Lloyd’s welcomes Richard Dudley as Council member
He replaces Dominic Christian, who will be stepping down on 31 January 2023 after nine years
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Fitch follows S&P in SCOR downgrade
Downgrade reflects the reinsurer’s continued weak financial performance, which “has worsened in 2022”
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Korean Re adopts coal-exit strategy
The move by Asia’s second largest reinsurer is welcomed, but there are calls to restrict coal from its treaty business
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RSA launches low-carbon underwriting policy
Insurer has committed to achieving an underwriting portfolio for energy production that is over 75% low carbon by 2030
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Companies with higher ESG ratings are a better risk - study
Environmental ratings have the strongest correlation with loss ratios, according to the analysis by Howden and Fidelis
