Growing geopolitical tensions and the use of digital technologies are amplifying cyber risks, with cyberattacks increasing by 38% in 2022 compared to 2021, globally.^[1] Although the dedicated cyber insurance market has grown rapidly over recent years, a huge protection gap persists, especially if an unprecedented, extreme cyber incident – striking multiple, large segments of the global economy – were to occur.

Issue summary

The COVID-19 pandemic presented many challenges to the global insurance industry, most notably with regards to coverage under business interruption (BI) policies, which saw a substantial upsurge in claims. In contrast, liability lines of insurance were often not affected as severely as anticipated.      

Insurers have an important role to play in navigating the transition to a decarbonised global economy, which will require broad collaboration across the industry and with external stakeholders. In this video, Roy Gori, President & CEO Manulife, explains how The Geneva Association makes an impact by bringing insurance CEOs together and providing a solid knowledge base through its research to inform decision-making.

Over the past 50 years, the world has faced many challenges – from natural disasters and economic shocks to the COVID-19 pandemic.

Seiji Inagaki, Chair of the Board, Dai-ichi Life, highlights how the insurance industry’s proactive response to such events has helped societies withstand and recover from these incidents, and how The Geneva Association contributes by bringing stakeholders together to work on solutions.

Over the next 50 years, the world will face heightened challenges related to climate change, geopolitics and digitalisation. Helping societies prosper will be a difficult task for insurers, but the industry has a solid track record of success, says Joachim Wenning, Chairman of the Board of Management, Munich Re, in this interview with The Geneva Association.

This video is part of our 50th-anniversary CEO interview series.

Natural disasters have increased by a factor of 4 over the past 30 years, and for every dollar insured, 3–4 dollars go uninsured. Charles Brindamour, CEO of Intact Financial Corporation, explains why an all-of-society approach will be needed to adapt to the consequences of climate change and tackle other major challenges facing the world in the coming years. 

This video is part of our 50th-anniversary CEO interview series.

In this video Charles F. Lowrey, Chairman & CEO of Prudential Financial, highlights The Geneva Association's impact on the insurance industry – through thought leadership & dialogue – and elaborates what the world's changing contexts will mean for insurers.

This video is part of our 50th-anniversary CEO interview series.

How is the risk landscape changing for insurers and societies globally? Our Vice Chairman, Yuan Siong Lee, Group Chief Executive and President of AIA, shares his perspectives, calling attention to the existential risk of climate change and the challenging geopolitical environment.

This video is part of our 50th-anniversary CEO interview series.