Geopolitical Risk: A Growing Threat to Insurer Profitability

A new era of uncertainty and instability has raised the profile of geopolitical risk in the insurance sector. Social inequality and populist tendencies, as well as economic disruption caused by the Covid-19 pandemic have already caused violent unrest around the world. Now the war in Ukraine, conflict between Israel-Hamas, plus strained relations between China and Taiwan all have the potential to intensify and involve other states. In the face of potential economic dislocation and multiplying risk factors, insurers and reinsurers must reassess the potential for resultant underwriting losses and investment impairments. In our upcoming webinar, hosted in partnership with S&P Global Market Intelligence, panellists will discuss how elevated geopolitical risk could impact insurers - and what they can do to manage it. • What’s the potential economic fallout from today’s flashpoints, and what’s the global geopolitical risk outlook going into 2024? • Underwriting risk: could PC insurers be vulnerable to ‘non-affirmative’ losses resulting from political violence e.g. BI/CBI/supply chain, liability? Do policies need to be clearer on the scope of coverage? • Investment risk: what are the implications of intensified geopolitical risk for the financial markets, e.g. to do with inflation and/or interest rates? How should insurers’ investment strategy factor in geopolitical risk? • Can insurers improve their geopolitical risk management practices? Do insurers have sufficient knowhow? Can geopolitical risk exposure be modelled? Speakers: Jack A. Kennedy, Research and Analysis Associate Director, S&P Global Market Intelligence Sandy Warne, Head of Terrorism and Political Violence, Howden Tiger Anthony Shapella, Deputy Chief Underwriting Officer at SiriusPoint Thomas Lott, Underwriter - Trade Disruption, Crisis Management, Convex Moderator: Raymond Barrett, News Desk Manager, Global Insurance, S&P Global Market Intelligence