Reinsurance

U.S. P/C insurers perform well in 2020 despite Pandemic, higher Cat losses:AM Best

International News       Apr 16, 2021

  OLDWICK, N.J: Publicly traded U.S. property/casualty (P/C) insurers performed unexpectedly well in 2020 despite extraordinary negative factors, generating operating income of $82.1 billion, according to a new AM Best special report. The analysis in the Best’s Special Report, “US P/C Insurers Perform Well Despite COVID-19,”...

Lloyd’s Lab announces its sixth cohort with a focus on product simplification and climate

International News       Apr 15, 2021

  London: Lloyd’s has today announced the next eleven InsurTech start-ups joining the sixth cohort of the Lloyd’s Lab innovation accelerator programme, which will be focused on creating simpler products for customers, including building solutions related to climate risks. This follows Lloyd’s commitments to reducing complexity...

Tokyo Olympics might yet be cancelled due to COVID-19 - Japanese official

International News       Apr 15, 2021

Tokyo: A senior Japanese ruling party official said canceling this year’s Olympics in Tokyo remains an option if the coronavirus crisis becomes too dire, as a fourth wave of infections surges less than 100 days from the planned start of the Games. “If it seems...

Jean-Paul Conoscente, CEO,SCOR Global P&C

SCOR's Apr 1 Indian renewal kitty swells by 21% to EUR 178 million

International News       Apr 14, 2021

Paris, Apr 15:. At the April 1, 2021, reinsurance renewals, French reinsurer SCOR performed strongly, benefiting from the continued improvements in pricing and terms & conditions already seen during the January renewals. SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange...

Dislodged ship held in Suez Canal as talks continue over $916 million claim

International News       Apr 14, 2021

  CAIRO: A ship that blocked the Suez Canal for almost a week in March is being held in the waterway as canal authorities pursue a $916 million compensation claim against the ship’s Japanese owner, one of the vessel’s insurers and canal sources said on Tuesday....

7% growth in global reinsurance capital in 2020, combined ratios improve: Willis Re

International News       Apr 12, 2021

  London: Total capital dedicated to the global reinsurance industry measured USD 658 billion at year-end 2020 reflecting 7% year-on-year growth. The rise was driven primarily by strong investment market appreciation. New capital raised both by incumbents and new entrants added to the total, but capital...

Berkshire Hathaway Specialty Insurance Names Idie Si as Head of Accident & Health Insurance, Asia

International News       Apr 12, 2021

BOSTON & SINGAPORE: Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has appointed Idie Si as Head of Accident & Health (A&H) Insurance for the region.“We are pleased to welcome Idie to BHSI. Her in-depth knowledge, vast expertise and leadership skills will be a...

‘Average’ Atlantic hurricane season to reflect more storms

International News       Apr 12, 2021

  Beginning with this year’s hurricane season outlooks, NOAA’s (National Oceanic and Atmospheric Administrationa)Climate Prediction Center (CPC) will use 1991-2020 as the new 30-year period of record. The updated averages for the Atlantic hurricane season have increased with 14 named storms and 7 hurricanes. The average...

China imposes $2.8 bn penalty on Jack Ma's Alibaba Group in monopoly probe

International News       Apr 10, 2021

  Beijing:  China imposed a record fine of 18.2 billion yuan ($2.8 billion) on Alibaba Group Holding Ltd. after an anti-monopoly probe found that it had abused its dominant market position. The penalty is triple the previous high of almost $1 billion that Qualcomm Inc. had...

Holger Tewes-Kampelmann to succeed Amer Ahmed as CEO of Allianz Re

International News       Apr 09, 2021

  Holger Tewes-Kampelmann will succeed Amer Ahmed as Chief Executive Officer (CEO), Allianz SE Reinsurance (Allianz Re), the reinsurance arm of the global insurance carrier, effective May 1st, 2021. Amer Ahmed, the CEO of Allianz Re since 2012, will step down to pursue new responsibilities outside...

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