Industry leaders unveil AI Code of Conduct & more…Keep up with what has been happening this week in our latest insurance news round-up…

Rising Red Sea tensions spark concerns of claims inflation in insurance industry: BofA Securities

Escalating tensions in the Middle East, especially in the Red Sea region, have recently rekindled concerns within the (re)insurance industry regarding potential claims inflation, with BofA Securities noting that, although direct and indirect impacts have been restricted, the industry remains vigilant.

Industry leaders unveil AI Code of Conduct

Industry leaders have come together to introduce the AI Code of Conduct aimed at ensuring transparency, accountability, and fairness in the implementation of artificial intelligence (AI) across the insurance claims sectors.

UK pension insurers join A4S Sustainability Principles Charter

Members of the UK insurance and pension industry have become signatories of the newly launched Sustainability Principles Charter, which focuses on transparency, reporting and engagement around sustainability in the bulk annuity process.

WTW launches cyber solution for SMEs

Product is tailored for businesses with revenues under $50 million.

AXA announces the successful placement of Euro 1.5 billion Restricted Tier 1 Notes

AXA announced the successful placement of Euro 1.5 billion of Reg S perpetual deeply subordinated notes (the “Notes”) with institutional investors. The Notes qualify as Restricted Tier 1 capital under Solvency II. Investor demand for the issuance was strong with a book subscribed more than 5 times.