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High cyber, economic loss risks from Ukraine war looms over insurers

Posted On: Feb. 28, 2022 9:59 AM CST

War risk


Ratings agency A.M. Best Co. Inc. said that the ongoing Ukraine-Russia war is likely to disrupt the global insurance and reinsurance industry in the near to midterm, with sanctions on Russia affecting international insurers and reinsurers’ ability to underwrite Russian risks or service existing policies, Middle East Insurance Review reported. Additionally, the growing risk of a systemic cyber warfare amid escalating tensions and the impact of the war on capital markets will also significantly affect the global insurance industry.