The Geneva Association

Average global temperatures hit record highs for four days on the run in July, with experts warning that we are dangerously close to crossing climate tipping points. What are the consequences for human health? Our report provides a breakdown of the adverse health effects of climate change and explores the potential impacts for life & health insurers. https://lnkd.in/dpEhBvkg

#PROGRES2024 is happening in just over a month, and we're looking forward to this panel on private equity & insurance with Scott White, Virginia Bureau of Insurance; Charles Scully, MetLife; Nobuyasu Sugimoto, International Monetary Fund; Craig Swan, Bermuda Monetary Authority; and Suzanne Williams-Charles, Bermuda International Long Term Insurers and Reinsurers - BILTIR. Register to join virtually https://lnkd.in/dMhy9twW or email events@genevaassociation.org to request an invitation to attend in person! NB: This session is closed to the media. We are pleased to invite media representatives to participate in #PROGRES2024 sessions on Monday, 16 September.

We were pleased to recently partner with MIGA The World Bank Group and the Insurance Development Forum to host an event at Lloyd's on leveraging insurance to advance gender equality. Watch this 80-second video snippet for discussion highlights, featuring Adrita Bhattacharya-Craven, our Director Health & Demography. 

What are the main differences between banks and insurers when it comes to their business models and levels of liquidity risk? Our recent report finds that compared to banking, the insurance industry’s exposure to liquidity risk is more product-specific and less structural. Section 2.1 elaborates. https://lnkd.in/dG3YdxnH

How do insurers manage liquidity risk? Stress testing, strong governance processes and liquidity contingency plans help companies to minimise their risk, reinforced by robust regulatory frameworks. Learn more in our issue brief: https://lnkd.in/dG3YdxnH

Extreme heat has a detrimental effect on health and economies – from deaths and hospitalisations to lost wages and even damage to infrastructure. The impacts on health and life insurance are under-researched, but with climate change set to make extreme heat events more common, it is becoming increasingly important to quantify them. Adrita Bhattacharya-Craven spoke to Levi Sumagaysay of CalMatters about the need for more climate-sensitive data in mortality- and morbidity-related insurance claims, which will help to map vulnerability in more detail. https://lnkd.in/g4fx4N6t

Regulation helps insurers and banks maintain financial stability and resilience to external shocks. Section 5 of our issue brief explores how it has evolved over the past 20 years and the impact this has had on liquidity risk in the two sectors. https://lnkd.in/dG3YdxnH

Mortality projections are key to accurately managing exposure to longevity risk in life insurance. Frailty is is a major health concern – especially among ageing populations – and is linked to higher mortality rates from all causes. In this Geneva Papers article, Maria Carannante, Valeria D’Amato, Haberman, Steven and Massimiliano Menzietti propose the introduction of a frailty factor into mortality models, which allows life insurers to better measure the riskiness of their portfolios.  https://lnkd.in/dzz3j8NM

Insurance is vital for getting climate tech projects off the ground. Our reports on climate tech and insurance explore how to integrate insurers into the process from the start and propose a framework for assessing the insurability of new projects, developed in collaboration with stakeholders from across the insurance industry and beyond. Find out more in this AXA XL interview with Andrew MacFarlane and Laura Watson. https://lnkd.in/eu2fyW45

How susceptible are life insurance products to liquidity risk? Click through below to see how different factors like product design, cash-out allowance and penalties impact a product’s degree of risk.   Learn more in our issue brief: https://lnkd.in/dG3YdxnH