“It is my belief that we are at the beginning of a global parametric insurance revolution,” Meier said. “Parametric is the lead violin in a symphony of risk transfer. The ability to work with large, respected MGAs like Rokstone, to provide worldwide access to parametric solutions that utilize both public and proprietary data backed by Lloyd’s capacity, is an important step in the widespread mainstream adoption of parametric products.”
McKinsey highlighted that rising costs, including repair expenses and reinsurance premiums, have brought affordability into focus, particularly in the U.S. Insurers are encouraged to innovate and expand coverage in underinsured regions, especially in parts of Latin America and Asia, where economic conditions may support greater insurance uptake.
With over 45 years of experience in the global insurance sector, Bensinger has held senior roles at companies including AIG, The Hanover Insurance Group, Combined Specialty Group (then part of Aon), Chartwell Re Corporation, and Skandia America Group. He was also a partner in the insurance practice of Coopers & Lybrand, now PwC.
Commercial insurance pricing remains elevated in the region, with the composite price index increasing 3% in the third quarter of 2024, exceeding the global average, which declined by 1%. Casualty lines, particularly motor insurance, have driven pricing increases due to higher vehicle values and rising repair costs.
Collectively referred to as General Re Group, these entities operate in the United States and internationally. The long-term ICR of “aa+” (Superior) for General Re Corporation, a Delaware-based holding company, has also been affirmed. All ratings carry a stable outlook.
During the quarter, Brookfield originated approximately US$4 billion in proprietary investment strategies, achieving returns exceeding 8%. The company also generated US$4 billion in annuity sales, bringing the year-to-date total to US$12 billion. Additionally, it reinsured a portion of its life insurance business, a move aimed at locking in returns and releasing capital to support growth.
Additionally, many businesses still don’t fully grasp the benefits of cyber risk services, missing a critical aspect of their policy that could add significant value. In many cases, the gap can be due to awareness, where companies might not see that risk services provided by insurers can vastly improve their risk profile, making cyber insurance a more effective purchase.
Meanwhile, Dominica was the country that was most impacted by natural disasters, with a Disaster Impact Index of 66.21, with 26,794 deaths and injuries among a population of 66,205. Notably, major hurricanes have ravaged the island and caused economic losses of around $1.96 billion.
To maximize AI’s benefits, he stressed the importance of a robust IT infrastructure. “For companies to truly get real benefit from some of these emerging technologies, including AI or generative AI, they really need to have an efficient IT infrastructure, because if they don’t have systems that can talk together to each other or get the data from third parties efficiently, then it’s really hard to leverage some of these emerging solutions,” he said.
This time, Trump campaigned on a raft of economic proposals, including higher import tariffs, especially on Chinese goods, additional tax cuts, and an immigration clampdown. Some analysts have pointed out that while these actions could provide a short-term lift to the US economy, they could push up consumer prices and weaken the labor market down the line.
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