Geneva Association (GA) News

It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses

The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its handling in 2020. P/C insurers currently collect US$1.6 trillion …

AXA’s Wattez-Richard Receives 1st Geneva Association Women-in-Insurance Award

The first annual Geneva Association Women in Insurance Award has been presented to Garance Wattez-Richard, CEO of AXA Emerging Customers, for her work in tackling the insurance protection gap and protecting underserved populations in emerging markets. Wattez-Richard founded AXA’s Emerging …

Geneva Association Elects 4 Board Members from Ping An, Prudential, PICC and Aviva

The Geneva Association, the global organization of insurance and reinsurance chief executive officers (CEOs), announced the election of four new board members. They are: Yuansiong Lee, co-CEO, Ping An Insurance Co. of China; Charles F. Lowrey, CEO, Prudential Financial; Jianmin …

Pros and Cons of the Rise of Online Insurance Platforms: Geneva Association

Online platforms can foster insurance market transparency and reduce both transaction costs and information asymmetries, factors typically associated with increased competition and societal welfare. However, online insurance platforms also give rise to challenges concerning consumer protection and competition that should …

As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.

Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study released by insurance industry …

Swiss Re Economists Win Award for Research on Nat Cat Protection Gap

The Geneva Association and the International Insurance Society (IIS) announced the 2017 winner of their collaborative insurance research program, the Shin Research Excellence Awards. Thomas Holzheu and Ginger Turner of Swiss Re received the award for their paper on “The …

Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report

Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a report published by the Geneva Association. However, the protection gap problem …

Governments and Re/Insurers Should Work Together to Face Rising Disaster Costs

A presentation from the Geneva Association (GA), the international insurance think tank for strategically important insurance and risk management issues, calls for a long awaited dialogue between the industry and all levels of government in the face of the rising …