International News

Denis Kessler, Chairman & Chief Executive Officer, SCOR

SCOR’s net income falls to EUR 286 mn in 2017, Gross premiums touch EUR 14,789 million, up 8.6 pc in 2017

Reinsurance       Feb 22, 2018

Paris: The net profit of French reinsurer SCOR at EUR 286 million in 2017 fell almost by 50 per cent from € 603 million in 2016 due to the cost of the nat cat events which occurred in the third and fourth quarters.   The reinsurer's...

Prem Watsa, CEO, Fairfax

Prem Watsa earns a net profit of $930 mn from stake sales in ICICI Lombard General

Non Life-News       Feb 16, 2018

Toronto: Windfall gains from its Indian insurance operations have swung  Prem Watsa's Canada-based Fairfax Financial Holdings to the profit in the fiscal year 2017. Aided by a massive profit in its ICICI Lombard deal, the multinational re/insurer has reported net earnings of $1.74 billion in...

Global sea level surging at faster rate, study

Climate Change       Feb 13, 2018

Washington The global sea level is not rising at a steady rate, it is accelerating a little every year, according to a new assessment based on 25 years of satellite data.   Researchers at University of Colorado at Boulder in the US calculate that the rate...

71 killed as Russian passenger plane crashes near Moscow

Non Life-News       Feb 11, 2018

Moscow: A Russian passenger plane carrying 71 people crashed near Moscow on Sunday minutes after taking off, killing everyone on board in one of the country’s worst ever aviation disasters. Investigators said the Antonov An-148 plane crashed in the Ramensky district on the outskirts of...

January windstorms expected to cost European insurers more than $2bn:Aon

Non Life-News       Feb 08, 2018

CHICAGO: The Global Catastrophe Recap report by  Aon Benfield reveals that several Atlantic storm systems impacted Western and Central Europe during the month, the most significant of which was Windstorm Friederike, which killed at least 13 people after hurricane-force wind gusts and heavy rainfall affected...

World Bank raises a record USD1.36 bn cat bond

Disaster Management       Feb 07, 2018

Chicago: World Bank has raised a record USD1.36 billion of earthquake catastrophe bond.The largest ever sovereign risk transfer protects World Bank against natural hazard exposure in four countries     The bond, which mitigates balance sheet risk for the World Bank in Chile, Colombia, Mexico and Peru...

Victor Peignet, CEO, SCOR Global P&C

SCOR's P&C reinsurance renewal premiums grow by 3.7pc to Eur 3.1bn

Reinsurance       Feb 08, 2018

Paris: French reinsurance major SCOR grew P&C reinsurance renewal premiums by 3.7 per cent at constant exchange rates at the January 2018 renewals, from EUR 3.0 billion to EUR 3.1 billion.   With reinsurance pricing  broadly improving across nearly all lines of business and geographic markets,...

Swiss Re in talks with SoftBank, may divest minority stake

Reinsurance       Feb 07, 2018

Zurich: Swiss Re Ltd. is in preliminary discussions with Japan's SoftBank Group Corp. on a potential minority investment in the Swiss reinsurer, the Zurich-based group said Wednesday.   The statement followed a report in the Wall Street Journal that the two groups were in advanced talks...

Ulrich Wallin, Chief Executive Officer, Hannover Re

Competitive climate broadly remains unchanged across Asia-Pacific markets:Hannover Re

      Feb 07, 2018

Hannover: Hannover, world’s third largest reinsurer, has said all in all, 1 January the renewal season passed off successfully for the company   The treaty renewals as at 1 January 2018 were shaped by the very substantial natural catastrophe losses of 2017, which took a heavy...

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