AGP Executive Report
Last update: 3 hours agoCyber Risk: Cyber incidents cost UK financial firms an estimated £1bn over the past year, yet cyber policies covered only 56% of reported losses on average, highlighting a major protection gap. Digital Insurance: Tigerlab launched a marine cargo broker platform that combines shipment declarations, accounting and compliance checks; it is already live in five countries. AI insurer-software firm Kalepa also raised $75m at a $470m valuation. Climate Protection: Malaysian data show flood cover on just 13% of combustion-engine vehicles versus 50% of EVs, while flood losses reached nearly RM1bn in 2024. In Africa, ZEP-RE’s CEO argues regional risk pools can help governments protect infrastructure from climate shocks. Industry Moves: CVS plans to separate its pharmacy and health insurance businesses, while Chesnara agreed to acquire MetLife UK’s £1.7bn closed life book. Claims and Results: Stanbic IBTC Insurance paid N8.96bn in death claims and annuity benefits in 2025, up from N5.33bn a year earlier; LIC reported a 20% rise in quarterly profit.
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