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It was a week that focused on risk.

It was a week that focused on risk. Global reinsurers are facing hurdles such as increased cyber attacks and climate change concerns but are still reporting solid earnings; terrorist attacks rose 14% globally in 2016; and the Canadian government is ramping up airline security.

Here are the week’s top stories:

Global reinsurer capital rose 5% to US$595B in 2016: Aon Benfield
Aon Benfield estimates that global reinsurer capital rose by 5% to US$595 billion at December 31, 2016, says the reinsurer in a new report. The total equity of the 23 Aon Benfield Aggregate (ABA) companies rose by 4% to US$210 billion over the course of the year, driven primarily by solid earnings.

Terrorist attacks increase 14% globally, 174% in Western countries in 2016: Aon.
Attacks increased 14 percent worldwide (up to 4,151 from 3,633 in 2015) and 174 percent (up to 96 from 35 in 2015) in Western countries in 2016, creating an increasingly volatile operating environment for international business, according to a new report from Aon. Aon’s 2017 Risk Maps for Political Risk, Terrorism and Political Violence, released last week, revealed that the most frequent targets of these attacks were private citizens and property (1,342 attacks), followed by the military (799 attacks), and public gatherings (714 attacks).”

2017 trading conditions may become the ‘new normal’ in insurance industry
Despite an encouraging uplift in the energy industry during the last 12 months, the industry is still beset by some significant challenges, including in the industry, according to Willis Towers Watson’s Energy Market Review for 2017. At the same time, there may also be a “new normal” emerging in the global Energy insurance markets. The abundance of (re)insurance market capital, the driving dynamic behind market conditions now for nearly a decade, is likely to remain dedicated to the industry – no matter what individual sector loss records produce, the Review adds.

Feds impose new air security measures
The federal government has imposed new airline security measures on certain Canada-bound flights, but it provided precious few details Tuesday, citing a need for secrecy. Transport Minister Marc Garneau made the announcement after the government’s weekly cabinet meeting.

Copyright © 2017 Transcontinental Media G.P.
Transcontinental Media G.P.