Credit insurance specialist Allianz Trade now expects global insolvencies to increase by 21% in 2023. What is also certain is that regulators will be more attentive to the signs of more instability in the financial services sector. (Credit: Antonio/Adobe Stock) Credit insurance specialist Allianz Trade now expects global insolvencies to increase by 21% in 2023. What is also certain is that regulators will be more attentive to the signs of more instability in the financial services sector. (Credit: Antonio/Adobe Stock)

Recent years have seen the financial services industry have to deal with the unprecedented levels of uncertainty caused by COVID-19. Banks, asset managers, insurers and capital markets, together with other financial services organizations around the globe, all played their part in helping to weather the storm.

Still, many clouds remain on the horizon. Financial services companies are not immune to the challenges facing other sectors such as geopolitical tensions, the war in Ukraine, inflation and the hike in interest rates, supply chain disruptions, potential recession, the heightened cyber risk landscape and the growing competition from Big Tech companies providing more financial services.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.