As the world navigates major challenges, the transitions that are required to do this effectively are going to call on risk capital and the expertise of the global insurance and reinsurance industry, with its capacity, including ILS and alternative sources, seen as a crucial form of financing, according to S&P Global Ratings.
Speaking today in Monte Carlo at the 2024 Rendez-Vous of the reinsurance industry, Yann Le Pallec, Executive Managing Director, Head of Global Ratings Services at S&P Global, highlighted the significant need for capital and capacity to support the world and its economy as it transitions through some of the challenging issues currently faced.
“Insurance, and insurance will be a crucial capital provider and risk mitigator to the world managing what we call multi a multi-transition of the global economy,” Le Pallec explained to the audience at an S&P Global briefing held at the event.
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