“The general optimism among insurers and reinsurers about DUAEs persists, with more strategic partnerships being formed between carriers and DUAEs,” said Yizhou Hong, senior financial analyst at AM Best. “These partnerships are generally longer-term and allow capacity support across lines of business, industries, and geographies, instead of simply by program.”
Tasked with navigating an ever-evolving risk environment, the cyber insurance market has distinguished itself by its ability to pivot at speed, alongside its early adoption of proactive products and solutions. So, with 2025 in the near distance, what are some of the top trends shaping the sector – and what is the next year likely to hold for the market?
“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.
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