In this article, we will cover the 25 largest insurance companies in the world in 2024. If you want to skip our detailed analysis of the insurance industry, you can go directly to 5 Largest Insurance Companies in the World in 2024. Insights into the Global Insurance Market The insurance sector plays a crucial role […]
China could see robust growth in catastrophe bonds, or cat bonds, as policymakers seek more financial tools to share the risks from losses from natural disasters, as climate change increases the frequency and severity of floods and typhoons, according to insurance experts. Cat bonds could help China develop a multilayer risk-transfer mechanism that combines traditional insurance products, government subsidies and cat bonds, to increase the country's capacity in post-disaster risk financing, when
Typhoon Doksuri, which triggered extreme flooding across China last summer, was one of the costliest natural disasters worldwide in 2023, leaving a multibillion-dollar shortfall in insurance coverage, according to experts. The catastrophe caused US$25 billion in economic losses, the second-costliest natural disaster worldwide and the costliest in the Asia-Pacific and Africa region, German reinsurance firm Munich Re said on Tuesday. Only 8 per cent, or US$2 billion, of the losses were covered by