In June 2009, KPMG International launched A Glimmer of Hope, the first of a two part global insurance survey series which it commissioned the Economist Intelligence Unit (EIU) to undertake on its behalf. This follow-up report analyzes the findings of the second survey undertaken in August 2009, examining how the financial crisis is changing the attitude of the global insurance indstry to risk and capital management.

Also, see Glimmer of Hope — Growth Prospects in the Global Insurance Industry and the Escalation of Risk and Capital Management.

Although insurers fared better than the banks during the global  nancial crisis and resulting recession, premiums for 2008 declined by 6% to just under €1,060b with no improvement in 2009. Overall, life insurance companies fared better from the crisis than banks; however, they were shaken by investment losses, as were their customers with market-linked products. General insurance companies suffered from capital base erosion and by the continuation of soft rates. European Union (EU) insurers’ efforts to rebuild capital may be complicated in 2010 by a changing accounting and regulatory environment and the impending implementation of Solvency II, with many commentators forecasting a need to increase capital levels.

Global financial regulation has changed little since the 2008 banking crisis, but that won't be the case much longer.

U.S. and EU authorities are expected to hammer out the final shape of a new regulatory order in 2010 that will fundamentally change how world banks and markets operate.

Swiss Re has updated the data appendix of its World Insurance 2008 Sigma report released earlier this year to incorporate the latest available data.

The main findings of the sigma have been confirmed.

The global life and non-life insurance premium volume for 2008 has been revised. The large revision is mainly due to the UK life sector. For the rest of the regions the changes are described as minor.

Competition among domiciles is heating up as many countries and U.S. states vie to host insurance companies and their related business, according to the Nov. 2 BestWeek U.S./Canada. Regulating insurers is a good business for governments. Insurance business brings jobs without pollution and boosts tax revenue.

The global credit crisis led to a decline in life insurers’ economic capital positions in 2008, although the industry as a whole managed to maintain compliance with minimum regulatory capital requirements.

This report examines how the financial crisis is set to reshape the industry as a whole, along with some of the key developments that are likely to affect particular segments and geographical markets.

Swiss Re’s new Focus Report: “The Globalisation of Collective Redress: Consequences for the Insurance Industry” provides an update on the global spread of collective actions and assesses both the risks and the opportunities that this development carries for insurers.

The Brazilian insurance market continues to be the largest in Latin America, with a total of BRL96.2 billion in premiums written in 2008, followed by Mexico, Argentina and Colombia. Despite its low participation in GDP (only 3.5% at first-quarter 2009), a time of regulatory transition and deterioration in the macroeconomic environment in the short term, it still presents significant potential for greater development once a consistent recovery in economic growth is observed, according to Fitch Ratings.

Summarizes terror insurance market developments in 34 countries across six continents. According to the report, developments on a country-by-country basis are being shaped largely by events, including new or evolving threats and local developments in the insurance and reinsurance markets. The update also addresses the impact of terror insurance on the aviation market and looks at recent developments in terror modeling.

Despite the turmoil in the global economy, nearly two-thirds (62 percent) of insurers plan to grow outside of their home market in the next 12 months, according to findings of a global survey released today by Accenture.

Weekly update on seasonal influenza. For H1N1 related news, visit http://www.cdc.gov/swineflu/.

(23 Apr 2009) Today, Swiss Re launches a new report covering the latest trends in group risk business in the UK. Based on data contributed to Swiss Re by the UK’s leading group risk providers, Group Watch 2009 provides an authoritative snapshot of the level of group risk business in the market. The survey points to a modest rise in the UK group death benefits and income protection market and a more substantial growth in critical illness business in 2008.

Aon Announces Top 10 Global Risks

Despite the fact Solvency II in its current form will apply only to the European Union, North American insurers are encouraged to pay attention to the factors underlying its development. If, as anticipated, Solvency II leads to markedly lower capital charges for EU-based companies, then the Europeans will have a significant competitive advantage over North American companies.

Hannover Life Re believes that we should all be looking to offer cover to as many individuals as we can and that as far as possible insurance should strive to be inclusive. The company also feels it is right to challenge ourselves to continue to change cultural attitudes and encourage inclusive behaviour.

From the March 2009 issue of Gen Re's Risk Insights.

Financial services and insurance companies face enormous challenges in 2009 as they manage through the economic downturn and respond to market shifts and consumer expectations.

Around 70 representatives of primary insurance companies from all over Europe, and some from further afield, came together on 23 – 24 June 2008 at the Swiss Re Centre for Global Dialogue for a packed agenda of presentations, discussions and networking. Leading expert key note speakers addressed delegates, together with senior management from Swiss Re. All were focused on a single theme – growth opportunities, together with their accompanying risks, for life and health insurance markets in Europe.

According to the latest Swiss Re sigma study, world insurance premium income grew 3.3% in real terms in 2007, reaching USD 4 061bn. This growth was primarily driven by the life business in industrialised and emerging markets and to a lesser extent by the non-life business in the emerging markets.

UPDATE: The statistical appendix updates premium volumes from the world insurance sigma published earlier this year.

Driving through India's financial capital Mumbai, some of the brightest billboards that catch your eye promote insurance companies. Most of them represent big brands like New York Life, MetLife, Aviva and AIG. For the last five years, they have been working hard to make their presence felt in a under-insured market.

Takaful (Islamic insurance) is one of the fastest growing types of insurance worldwide and has potentially significant appeal beyond just Muslim populations. Writing in PricewaterhouseCoopers' Insurance Digest, the authors describe takaful’s attributes and attractions, and offer suggestions on how insurers can market it.

June 2008 – Around 70 representatives of primary insurance companies from all over Europe, and some from further afield, came together on 23 – 24 June 2008 at the Swiss Re Centre for Global Dialogue for a packed agenda of presentations, discussions and networking. Leading expert key note speakers addressed delegates, together with senior management from Swiss Re. All were focused on a single theme – growth opportunities, together with their accompanying risks, for life and health insurance markets in Europe.

For years, Japan has earned respect as a giant in global insurance markets. It's the second largest market in the world, after the U.S. According to Swiss Re, total premium income in 2006 reached $363 billion, representing approximately one-sixth of total world life insurance premium income. Japanese life insurers are among the largest in the world, including the largest of all, Japan Post Insurance.