The risk that first appeared was geopolitical risk, then energy prices and food market risk appeared. A disrupted shipping route created supply chain risk. Following on its heels was cyber operations risk, and then production and financial risk.
Zurich Insurance Group has announced the appointment of Mr Scott Yin as CEO, Zurich China, pending regulatory approval.
Two Singapore-registered container vessels were struck by unknown projectiles while transiting the Strait of Hormuz on 13 and 14 October, respectively, according to Singapore's Maritime and Port Authority (MPA). One vessel sank, while the other sustained hull damage.
The sale by Arab Reinsurance Company (Arab Re) of a material land holding in Lebanon will materially reduce the company's asset risk, says AM Best.
The Global Asia Insurance Partnership (GAIP) has announced that Lloyd's Asia has joined the Asia-focussed, neutral tripartite platform as a Supporting Partner, bringing a specialist (re)insurance market perspective to GAIP's work to address protection gaps and strengthen resilience against the complex and evolving risks affecting Asia.
Insurance regulators are tightening rules for asset-intensive reinsurance while promoting alternative forms of insurance risk transfer.
Singaporean insurer Singlife has announced a partnership with NHG Health designed to improve customers' access to specialist care and explore new care models that support better health outcomes, recovery and healthcare sustainability.
HDI Global has appointed Mr Kimura Kei as General Manager, Distribution and Marketing of its Japan branch.
Gallagher has launched a new cyber risk advisory practice for the Middle East, headed by Mr Sidharth Wahi.
Mental health-related absences is a fast growing workforce challenge in Australia, with recent data showing that such absences have increased by 35% y-o-y to become a leading cause of employee long-term leave in organisations.