Implications of Ukraine invasion on global insurance industry

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<title>Implications of Ukraine invasion on global insurance industry</title>
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<namePart>A.M. Best Company</namePart>
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<publisher>A.M. Best Company</publisher>
<dateIssued>2022</dateIssued>
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<abstract displayLabel="Summary">Russia's invasion of Ukraine may have a substantial impact on the world's insurance industry. The economic e.ffects of sanctions include a material increase in commodity prices, which could add to inflationary pressures, challenging efforts by the global central banks and the US Federal Reserve to contain inflation. In addition, the sanctions may have severe knock-on effects not just on oil and commodity prices, but also tourism, as well as the economies of the world's less resilient countries. Further sanctions may impact the ability of international (re)insurers to underwrite Russian risks or make it more difticult for them to service claims on existing policies. Most affected will be those writing large energy and infrastructure risks, sucb as London Market insurers, and international reinsurers. This business has historically been highly protitable. There may also be recovery implications for foreign insurers that have reinsurance</abstract>
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