International News

Insurance sector to embrace new market dynamics:Swiss Re

Non Life-News, Reinsurance       Sep 10, 2018

  Monte Carlo: Swiss Re sees some of the current improvements in the overall market environment as a chance for the insurance sector to embrace new market dynamics; for example, the increased use of digital solutions.    Looking ahead, the continued growth of risk pools combined with...

Hannover Re expects to see stability in prices & conditions in 2019

Non Life-News, Reinsurance       Sep 25, 2018

  Monte Carlo: Hannover Re, the fourth largest global reinsurer,  expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019. While improvements should be possible under loss-impacted programmes,covers that were spared any losses have reached the minimum level...

Significant obstacles remain in place for global reinsurnace trade: Global Reinsurance Forum

Reinsurance       Sep 13, 2018

  MONTE CARLO: The Global Reinsurance Forum (GRF) announced today that no new major trade barriers have been added to the latest edition of its Reinsurance Trade Barriers and Market Access Issues Worldwide list Despite this encouraging development, the GRF remains concerned that significant barriers still...

Insurers brace for another round of catastrophe losses from Hurricane Florence

Disaster Management, Non Life-News, Reinsurance       Sep 12, 2018

  (Reuters) - U.S. insurers are bracing for what could be $20 billion in losses as Hurricane Florence barrels toward the Carolinas and Virginia, bringing punishing rains and potentially deadly flooding.   Hurricane Florence, on track to become the first Category 4 storm to make a direct...

Bangkok meet fails to finalise draft on climate change rules

Climate Change       Sep 10, 2018

  Bangkok: An international meeting in Bangkok fell short of its aim of completing fruitful preparations to help an agreement be reached in December on guidelines for implementing the 2015 Paris climate change agreement. The six-day meeting, which ended on Sunday, was scheduled to step up...

British Airways cyber attack: 380,000 customers hit, carrier 'deeply sorry'

Risk Management       Sep 07, 2018

  London: British Airways was forced to apologise on Friday after the credit card details of hundreds of thousands of its customers were stolen over a two-week period in the worst ever attack on its website and app.   The airline discovered on Wednesday that bookings made...

Citing Kerala floods, UN chief says 'climate change running faster than we are'

Climate Change       Sep 07, 2018

  New York: UN Secretary General Antonio Guterres cited the devastating floods in Kerala and the wildfires in California as he expressed concern that climate change is "running faster than we are” and called for urgency and action to prevent ever greater climate-related crises.   The UN...

Munich Re reclaims top spot in A.M. Best’s Top 50 Ranking of Global Reinsurers

Reinsurance       Sep 05, 2018

  OLDWICK: The first five positions in A.M. Best’s annual ranking of the Top 50 Global Reinsurance groups experienced some reshuffling in 2017, most notably in the top spot as Munich Reinsurance Company reclaimed the No. 1 position from Swiss Re Ltd. Outside of 2017, when...

Ratings agencies say reinsurance rates to rise by less than 5 pct in 2019     

Non Life-News, Reinsurance       Sep 05, 2018

LONDON:   Reinsurance rates are likely to see at most a modest uptick next year due to strong competition in the market, ratings agencies S&P Global, Fitch and Moody’s said on Tuesday. Reinsurers such as Swiss Re , Munich Re and the Lloyd’s of London  market...