Weekly News Update – March 30th

FTI Consulting has published its annual report on European M&A activity and it seems that increased interest rates have not slowed down the M&A activity. Swiss Re has predicted that severe convective storms, earthquakes and flooding will contribute to a doubling of insured losses in the next 10 years.

FTI Consulting reports record activity for European insurance M&A (Source: Reinsurance News)
A record 574 insurance M&A deals were announced in 2023, according to FTI Consulting, a 30% increase from the previous year.

Swiss Re reveals huge spike in insured losses is coming  (Source: Insurance Business Magazine)
New data from Swiss Re suggests that “insured losses could double over the next decade” due to rising temperatures and extreme weather events.

Baltimore bridge collapse likely to result in multibillion-dollar insurance claims – Lloyd’s of London (Source: Reuters)
Lloyd’s Chairman, Bruce Carnegie-Brown, has said “the tragedy has the capacity to become the largest single marine insurance loss ever”.

How will Generative AI impact the society of tomorrow? MAPFRE proposes four scenarios and the role that the insurance industry will play in them (Source: MAPFRE)
This new study has developed “four plausible scenarios for 2029” looking at the wider world’s use of technology and the impact on people’s lives and behaviours.

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