International News

Drone attacks strike major Saudi Aramco facility, oilfield

Non-Life, Risk Management, Technology       Sep 14, 2019

  Dubai: Drone attacks targeted a major Saudi Aramco processing facility and oilfield in eastern Saudi Arabia Saturday, the Interior Ministry said, sparking a huge fire at one of the sites before dawn. No one immediately claimed responsibility for the attack, which comes amid previous drone...

Analysts see 2020 reinsurance price hikes due to catastrophes

Eco/Invest/Demography, Reinsurance       Sep 09, 2019

Insurers are increasingly concerned about the impact of bad weather linked to climate change, with an increase in wildfires in California among the most costly in recent years, something S&P said could see rates there jump 30-70%.   Big insurance losses from hurricanes, wildfires and other...

Google to pay $170 million fine for sharing YouTube kids data

Risk Management, Technology       Sep 04, 2019

  Google agreed to pay a $170 million fine to settle charges that it illegally collected and shared data from children on its YouTube video service without consent of parents, US officials announced on September 4. The settlement with the Federal Trade Commission and the New...

Total reinsurance capital at $559 bn in H1 2019, up 8% driven by strong investment markets: Willis Re

Eco/Invest/Demography, Non-Life, Reinsurance       Sep 04, 2019

  London: Total capital dedicated to the global reinsurance industry measured USD 559 billion at the half-year point of 2019. This is an 8 per cent increase from a re-stated USD 518 billion at year-end 2018[1], with strong investment markets being the main driver of the...

Global reinsurance market to see consolidation, product & service innovation:S&P

  New York: S&P Global Ratings has kept its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates.   This assessment is mostly based on reinsurers' still-robust capital adequacy and relatively disciplined underwriting, at least so far, supported by well-developed...

Willis Towers Watson launches innovative risk advisory service 

Non-Life, Risk Management       Sep 03, 2019

  SINGAPORE: Willis Towers Watson has launched a new advisory capability to help chief financial officers and risk managers reduce volatility and minimise their total cost of risk.     Connected Risk Intelligence, available for large corporate clients with complex risk portfolios, is a single source for financial...

Swiss Re and Capsicum Re launch a holistic cyber reinsurance solution

Non-Life, Reinsurance, Technology       Sep 02, 2019

  Zurich:  Decrypt, a new holistic cyber reinsurance solution is launched today by co-creators Swiss Re and Capsicum Re,the specialist reinsurance broker. Decrypt provides a single, flexible,end-to-end solution to insurers’ cyber exposure challenges, including embedded, silent, and affirmative cyber risks. Decrypt will be brought to the...

Hurricane Dorian slams Bahamas, Florida,expected industry losses range between $11.3bn to $37.2bn

Eco/Invest/Demography, Life, Non-Life, Reinsurance       Sep 02, 2019

  The Bahamas felt the full-force of Dorian as a strong Category 5 storm, resulting in significant damage for some islands, while the Florida coast is now at-risk of hurricane force winds, storm surge and torrential rains as Dorian curves northwards.   Industry loss estimates are currently...

ArgoGlobal Syndicate 1200 to exit Asia

Non-Life, Reinsurance       Sep 02, 2019

London: ArgoGlobal, the Lloyd’s insurer and member of Argo Group, today announced plans to exit Syndicate 1200 underwriting operations in Asia and most of its hull underwriting business within the syndicate. All existing policies remain valid and the company will manage claims handling through its...

1 2 3 4