Much has changed in the world – and in insurance – since the organisation was founded in 1973. Globalisation, climate change, demographic trends, technology and more have transformed the major risks people face. Yet, the core principle of insurance remains the same: to protect individuals and businesses against those risks and build societal resilience towards them.
This was the underpinning theme of The Geneva Association’s 50th annual General Assembly of insurance CEO members, held in London on 1–2 June 2023 and titled ‘Collaborating for Resilience: 50 years on and looking ahead’.
During the event, insurance CEOs explored some of the most pressing global challenges and their implications for insurance companies:
• What insurers can do, amid prevailing geopolitical and economic volatility, to bring stability to societies
• The importance of delivering on net-zero transition plans, in insurance and in other industries, to meet emission-reduction targets
• The social media paradox for corporations – as a valuable platform for expression for employees, customers and other stakeholders, but also a vehicle for proliferating untruths
• How shifts in demographics, new technologies and working norms are impacting companies’ abilities to recruit the talent they need.
Christian Mumenthaler, Chairman of The Geneva Association and Group CEO of Swiss Re, said: “It is humbling for Geneva Association members to reflect on the insurance industry’s evolution over the past 50 years. What stands out, above all, is how insurers and reinsurers have dutifully confronted the world’s biggest challenges in the name of building resilience. In the uncertain times now and ahead, insurers are more than ever committed to supporting societies in the face of growing risks. In this context,
The Geneva Association’s role, as a research body and dialogue platform for the insurance industry, is as relevant as ever.”
John Neal, CEO of Lloyd’s and host of The Geneva Association’s 2023 General Assembly, commented: “Since the insurance industry’s inception, London has been a home and a hub for those seeking to underwrite the world’s risks. It has been a privilege to continue that tradition this year, bringing 50 of the world’s leading insurance CEOs to Lloyd’s for The Geneva Association’s 50th
General Assembly. Our discussions highlighted the need to protect society against pressing risks like climate and cyber – but also the possibilities that open up when insurers get in the same room together to solve complex problems.”
Jad Ariss, Managing Director of The Geneva Association, added: “We are honoured at The Geneva Association to have the continued trust of our CEO members. Our 50-year milestone propels us, as an organisation, into our next life phase. As the world evolves – and the insurance industry evolves alongside – The Geneva Association is mobilised to continue providing intellectual leadership and support to insurers in their mission to make societies safer and more resilient.”
In honour of its 50th anniversary, The Geneva Association is holding a two-day event in Zurich, ‘Summit 50’, on 28–29 November 2023, to celebrate the industry’s achievements over the past 50 years and explore its future challenges. Learn more here
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