Weekly News Update – 10th May

An interesting ‘visual story’ from ratings agency Moody’s outlines its thoughts on the biggest risks the industry is set to face. In a number of charts and graphs you’ll explore temperature anomalies from the past 50 years, cyber attacks by sector, region and country and asbestos losses since the 1970s. Warren Buffett has enjoyed incredible results in his insurance businesses, as seen by his Q1 results, despite Jain, Berkshire Hathaway’s Vice Chair admitting that technology is still a “bottleneck” for Geico.

The 10 major risks shaping insurance today (Source: Moody’s)
Moody’s shares its view on the key threats facing insurance businesses including cyber attacks, supply chain disruption and melting Artic Sea ice.

Industry veteran Alan Quilter joins Augment Risk as Strategic Advisor (Source: Reinsurance News)
Quilter, the ex-founder of R&Q, has joined the leadership team to “bring the most capital efficient structured products to clients and reinsurance partners.”

Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech (Source: Insurance Journal)
The insurance and reinsurance operations of the conglomerate increased their operating profit by 80 percent to $5.2 billion after taxes.

Re-framing Cyber Risk: Howden Re advocates for increased market engagement (Source: Howden Re)
This new report from Howden Re “suggests that larger carriers assume disproportionately little cyber risk when compared with nat-cat”.

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