Weekly News Update – 14th June

As we sit within a so-called permacrisis , a new report from business and accountancy firm, BDO, says that “businesses that change their mindset and lean into the risks they face can often become more resilient and thrive when exposed to stress.” R&Q is considering all its options, as it faces further financial worries. KPMG are exploring the world of AI in an event later on this month.

R&Q warns its financial stresses could hit business stability and lead to liquidation (Source: Insurance Journal)
R&Q is facing growing financial difficulties that could lead to the liquidation of its Bermudian operations in order to complete the sale of its Accredited legacy business to Onex.

Staying competitive amid permacrisis demands ‘changed risk mindset’ – report (Source: CIR)
Businesses need to change their response to the rapidly shifting global risk landscape according to BDO’s annual risk report. In a table of identified global risks, regulatory risks moved to the top spot, moving up 13 places.

How everybody wins in a digitized insurance market (Source: WTW)
This article explores how “the transformative shift to digitalization enhances efficiency and collaboration for commercial lines insurance, providing advantages for insurers, brokers and policyholders”.  

One giant leap: How do you prepare the Insurance industry for the world of Artificial Intelligence? (Source: KPMG)
Join an in-person event with KPMG on June 20th where industry experts “will share their valuable knowledge and experiences on technology transformation, AI trends and impacts”.

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