Lloyd’s Chief Executive, Inga Beale

Lloyd’s returns to profit for the first half of 2018

International News       Sep 21, 2018

  London: The market’s return to profit follows the severe catastrophe experience in 2017, with the result supported by an improved combined ratio of 95.5% (June 2017: 96.9%). Lloyd’s also reported a modest increase in gross written premiums to £19.3bn (June 2017: £18.9bn), driven by improvements...

Florence portends more massive hurricanes in age of global warming

International News       Sep 20, 2018

  Austin: Global warming has increased the likelihood of more massive, sluggish storms like Florence, capable of dropping record amounts of rain and causing the type of catastrophic flooding that crippled North and South Carolina this week, experts said.   Most meteorologists agree that climate change can...

Marsh & McLennan to buy UK broker JLT for $5.7 billion

International News       Sep 18, 2018

  London: Marsh & McLennan Companies Inc has agreed to buy Jardine Lloyd Thompson for about 4.3 billion pounds ($5.7 billion) in cash as the U.S. financial services group looks to boost its speciality risk broking and global reinsurance business.   Strategic Rationale The acquisition of JLT...

IRDAI Board to meet on Sep 27, to review reinsurance regulations

Indian News       Sep 14, 2018

  New Delhi: The board of insurance regulator IRDAI will meet on Sep 27 to decide on the new reinsurance regulations and approvals of licenses for a few new players. The last board meeting of IRDAI held on June 29 couldn’t find time for any other...

French insurer Covea examining new approach to Scor takeover: sources

International News       Sep 14, 2018

  PARIS:- Unlisted French cooperative insurer Covea is working on a new approach to its planned takeover of reinsurer Scor after its friendly 8.2 billion euro ($9.5 billion) offer was rejected last month, two sources close to the deal said on Friday.   Covea, which had offered...

Significant obstacles remain in place for global reinsurnace trade: Global Reinsurance Forum

International News       Sep 13, 2018

  MONTE CARLO: The Global Reinsurance Forum (GRF) announced today that no new major trade barriers have been added to the latest edition of its Reinsurance Trade Barriers and Market Access Issues Worldwide list Despite this encouraging development, the GRF remains concerned that significant barriers still...

Hanover to sell specialty unit Chaucer to China Reinsurance for $950 million

International News       Sep 13, 2018

  London: Hanover Insurance Group Inc on Thursday decided to sell its unit that underwrites risks at insurance market Lloyd’s to China Reinsurance Group Corp for $950 million to focus on expanding its domestic business.   Shares of Hanover rose as much as 5.32 percent, with the...

Insurers brace for another round of catastrophe losses from Hurricane Florence

International News       Sep 12, 2018

  (Reuters) - U.S. insurers are bracing for what could be $20 billion in losses as Hurricane Florence barrels toward the Carolinas and Virginia, bringing punishing rains and potentially deadly flooding.   Hurricane Florence, on track to become the first Category 4 storm to make a direct...

Insurance sector to embrace new market dynamics:Swiss Re

International News       Sep 10, 2018

  Monte Carlo: Swiss Re sees some of the current improvements in the overall market environment as a chance for the insurance sector to embrace new market dynamics; for example, the increased use of digital solutions.    Looking ahead, the continued growth of risk pools combined with...

Alice Vaidyan, Chairman & Managing Director, GIC Re  

GIC Re emerges as the 10th largest Global Reinsurer

Indian News       Sep 10, 2018

  Monte Carlo: In a major achievement, state run listed reinsurer, GIC Re has emerged as the 10th largest global reinsurer in the latest global ranking -2017- exercise by the international  rating agency Standard & Poor’s. S&P takes into account the net premium of a reinsurer,...

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