Reinsurance

Music team joins Miller to grow music and entertainment offering

International News       Jan 22, 2019

  London: Miller has continued its rapid expansion into the entertainment market with the hire of four specialists in music insurance, led by Martin Goebbels, who is joined by Rose Burgess, Holly Leary and Pamela Choat.   Having worked together for many years, the team has extensive...

Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report

International News       Jan 22, 2019

  Chicago: Aon's Weather, Climate & Catastrophe Insight: 2018 Annual Report reveals that 394 natural catastrophe events in 2018 generated economic losses of USD225 billion.   Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record....

L to R-CB Murli, CEO, AGCS, India , Sinéad Browne, AGCS Board Member and Chief Regions and Markets Officer for Asia Pacific Mark Mitchell, Regional CEO AGCS Asia Pacificat the lauch of AGCS's India reinsurance operations in Mumbai

AGCS opens reinsurance branch in India, targets EUR50 million premium over next 5 yrs

International News       Jan 21, 2019

  Mumbai: Allianz Global Corporate & Specialty SE (AGCS), dedicated carrier for corporate and specialty insurance business of German insurance giant Allianz SE, launched their new India reinsurance branch office in Mumbai on Monday and is targeting  €  50 million premium over the next five years.  ...

``Rising geopolitical and geo-economic tensions are the most urgent risk in 2019''

International News       Jan 16, 2019

    Mumbai: According to the the World Economic Forum’s Global Risks Report, rising geopolitical and geo-economic tensions are the most urgent risk in 2019, with 90% of experts saying they expect further economic confrontation between major powers in 2019.   The report released on Wednesday said environmental...

Cyber joins Business Interruption as leading Global Risk for first time: Allianz

International News       Jan 15, 2019

  NEW YORK: In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond.   According to...

US Regulators disagree over giving Fintechs Federal Charter to skirt State Rules

International News       Jan 14, 2019

The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold.   The Office of the Comptroller...

Indian Terrorism Pool premium expands by 10 % to Rs 516 cr in 2017-18

Indian News       Jan 09, 2019

  Mumbai:  The Indian Market Terrorism Risk Insurance  Pool’s premium income has increased by 10 per cent in  2017-18 to  Rs 516.18 crore as against Rs 503.67 crore in 2016-17. T he claims paid by the Pool during 2017-18 are  Rs 22.26 crore. No major losses...

3 out of 9 foreign reinsurers in India record a net profit of Rs 70 cr in 2017-18

Indian News       Jan 09, 2019

  Mumbai: Nine newly set up foreign reinsurance branches(FRBs) in their first full year of operations have mobilsed Rs 6216 crore of premium in 2017-18.     Out of which, Swiss Re, the second largest global reinsurer has the largest share of Rs 2047 crore while Munich based...

Swiss Re launches FLOW, insurance for companies exposed to high or low water levels

International News       Jan 08, 2019

  Zurich: Swiss Re Corporate Solutions expands its Innovative Risk Solutions offering by launching FLOW, the parametric water-level insurance. The new index-based product is designed to protect companies in Europe from the financial impact of high or low river water levels, such as lost revenue due...

Global natural disasters wreak $160 bn damage in 2018; worst losses in US

International News       Jan 08, 2019

  Munich: Natural disasters including wildfires, hurricanes and tsunamis inflicted $160 billion of damage and claimed 10,400 lives in 2018, German reinsurer Munich Re said Tuesday.   Global natural disasters wreak $160 bn damage in 2018; worst losses in US including wildfires, hurricanes and tsunamis inflicted $160...

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