2023 awards presented in a ceremony at Geneva Association Summit 50, the organisation’s 50th-anniversary event

ZURICH, 29 November 2023 – The Geneva Association is pleased to announce the joint winners of its 2023 Women in Insurance Award: Caroline Feeney, CEO of U.S. Businesses, and Salene Hitchcock-Gear, president of Individual Life Insurance, both with Prudential Financial.

ZURICH, 21 November 2023 – The world has experienced significant turbulence over the past few years. The COVID-19 pandemic, Russia-Ukraine war and global economic slowdown in quick succession have highlighted the fragility of our world order and the hazards inherent in an increasingly interconnected world. 

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.