International News

Strong earthquake rattles Indonesia’s Java island; 2 dead

Disaster Management       Dec 16, 2017

JAKARTA: A strong earthquake shook Indonesia's densely populated Java island on Friday night, killing two people and severely damaging dozens of homes near the epicenter.   The magnitude 6.5 quake struck at 11:47 p.m. and was felt across the island, including about 200 kilometers (124 miles)...

Prudential Hong Kong introduces digital claims, AI platform

Technology       Dec 14, 2017

Hong Kong: Prudential Hong Kong Limited (“Prudential”) today announced two new additions to its digital transformation line-up that harness automation, artificial intelligence (AI),machine learning and other technological innovations in order to provide a more personalised and accessible experience to customers. Launched today, eClaims is Hong...

Consumers want govts to do more to protect their data from AI: Survey

Technology       Dec 09, 2017

  Despite massive corporate investments in artificial intelligence (AI), nearly three-quarters of consumers are concerned about AI infringing on their privacy, according to a new study from Genpact, a global professional services firm focused on delivering digital transformation.   The survey of more than 5,000 people across...

Swiss Re Chairman, Walter B. Kielholz

Swiss Re effects changes in Group Executive Committee,inducts new members in Board

Reinsurance       Dec 08, 2017

Zurich: Swiss Re, the largest global reinsurer, today announces that John Dacey, currently Group Chief Strategy Officer, is appointed Group Chief Financial Officer, effective 1 April 2018, according to a release by Swiss Re on Friday.   He succeeds David Cole, who will step down to...

Overall risk professionals salary continues steady climb in US & Canada:RIMS Survey

Risk Management       Dec 05, 2017

NEW YORK:  Risk professionals at all levels and responsibilities in the United States experienced an average 3.5% base salary increase this year, while Canadian practitioners experienced an average 2.0% increase, according to RIMS 2017 Compensation Survey. The survey – published every two years – is...

Five yr lock in period for PE investment in Indian insurance companies:IRDAI

Regulation       Dec 05, 2017

Mumbai: The insurance regulator IRDAI has put a five year lock in period for any Private Equity(PE) investment in insurance companies.    Unveiling its detailed guidelines on PE investment in the insurance sector on Tuesday, IRDAI has clarified that a Private Equity(PE) Fund will not be...

Product recall risks growing, technology drives new triggers, warns Allianz

Risk Management       Dec 05, 2017

Singapore, Munich, New York, London : Hoghlights: Defective product risk is an increasing peril for companies, causing significant financial damage, says Allianz Global Corporate & Specialty (AGCS) report. Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise...

16 dead, 100 missing as cyclone hits India, Sri Lanka

Disaster Management       Dec 01, 2017

Agencies NEW DELHI: A powerful cyclone has killed at least 16 people across India and Sri Lanka, uprooting trees and cutting power for millions amid warnings Friday that the storm would intensify.  Disaster officials said nine people were killed in India and seven in neighbouring...

India’s Anil Sant to be new CEO of Asia Re

Reinsurance       Nov 28, 2017

Bangkok: Bangkok based Asian Re has selected Anil Sant as the next President and CEO effective from December 2017 in the place of S.A Kumar who will be retiring on completion of his tenure. Sant brings to the job three decades experience in reinsurance having...

1 2