With property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,…
The global insurance industry is a key actor in forging new instruments to anticipate and manage climate risks, and must continue to work with the United Nations to manage and reduce such risks, UN Secretary-General Ban Ki-moon said on Wednesday.…