Astana, May 12 (EFE).- The number of insurance claims worldwide rose 17% year-on-year, reaching record levels amid growing global instability caused by recent military conflicts, according to the international insurers’ association Berne Union.
“The geopolitical situation, particularly wars, has become the main risk for investors today,” the association’s president, Yuichiro Akita, told reporters after a forum held in Kazakhstan attended by 200 delegates from insurance companies representing up to 70 countries.
According to the Berne Union, insurance claims have recently reached a record $11.1 billion, with political risk insurance claims accounting for nearly 40% of the total. This increase is linked to sanctions against Russian companies and cases involving asset seizures.
At the same time, a more conflict-ridden world is redirecting investment flows toward ensuring the stable supply of critical raw materials and strengthening defense capabilities.
“This reflects a new environment in which export credit agencies are becoming more strategic and selective, and given rising national security concerns, these trends will intensify,” Akita said.
The expert noted that the meeting being held in Kazakhstan—a country located along the Silk Road connecting Europe and Asia—will allow participants to discuss urgent issues related to changes in international trade regulations aimed at reducing or eliminating the impact of risks. EFE