International News

Allianz eyes M&A targets After Missing Out on XL

Non Life-News       Jun 12, 2018

  $94 billion financial behemoth is keeping the market on tenterhooks about its next move.   Europe’s largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as deal-hungry Chief Executive Officer Oliver Baete scans the market for growth, people...

New construction technologies make engineering insurance risky, Swiss Re’s Sigma

Non Life-News       Jun 13, 2018

  Zurich: Global engineering insurance premiums for 2017 were estimated at around USD 21 billion, but have stagnated in recent years according to the latest sigma study from the Swiss Re Institute.   Underwriting performance has deteriorated recently, with premium rates declining and claims rising in some...

Violence cost India’s GDP over $1 trillion on PPP basis; Per person cost at Rs 40,000

Economy       Jun 10, 2018

  Violence cost the Indian economy a whopping USD 1.19 trillion (over Rs 80 lakh crore) last year in constant purchasing power parity (PPP) terms, which amounts to roughly USD 595.4 per person, says a report.   The findings are part of the report prepared by the...

Insurance Cutback Among Reasons Europeans Withdrawing from Iranian Oil Market

Non Life-News       Jun 07, 2018

  Insurance Cutback Among Reasons Europeans Withdrawing from Iranian Oil Market European refiners are winding down oil purchases from Iran, closing the door on a fifth of the OPEC member’s crude exports after the United States imposed sanctions on Tehran, company and trading sources said.   The...

UK financial watchdogs need competitiveness remit after Brexit: lawmaker

Regulation       Jun 08, 2018

  LONDON: Britain’s financial regulators should have a formal objective to keep London’s banking and insurance sectors globally competitive after Brexit, a senior lawmaker said on Thursday.   The now defunct Financial Services Authority had a requirement to pay heed to competitiveness - which led to criticism...

Worldwide cyber insurance prm will touch $4 bn by 2021: Aon

Non Life-News       Jun 08, 2018

  Chicago: Aon Inpoint, Aon plc’s data, analytics, engagement and consulting team,found that by 2021 the most rapid growth of premiums will be seen in cyber insurance products.    Over the past five years, cyber premiums saw the most significant growth at 23 percent annually and by...

Europe's insurers tumble on report Amazon eyeing home insurance move

Non Life-News       Jun 07, 2018

  LONDON:  European insurance stocks tumbled on Wednesday as traders reacted to a report U.S. Internet giant Amazon is considering further extending its empire to offer home insurance.   The STOXX 600 insurance sector index .SXIP hit a session low after a report in The Information, citing...

Shankar Garigiparthy,Country Manager,Lloyd’s India

Threats from Conflict and Terrorism account for more than half of Indian cities’ Risks:Lloyd's Report

Risk Management       Jun 06, 2018

  MUMBAI: The latest edition of Lloyd’s City Risk Index (CRI) has found out that Delhi (5th), Mumbai (6th) and Bangalore (7th) rank among the top 10 cities globally for GDP@Risk for terrorism threats.   Delhi (5th) and Mumbai (7th) are also in the global top 10...

Global airlines making profits despite looming threat of trade war, high fuel cost: IATA

Non Life-News       Jun 05, 2018

  The International Air Transport Association (IATA) expects the airlines to achieve a collective net profit of USD 33.8 billion, at a net margin of 4.1 per cent, in 2018 compared to a record USD 38 billion last year.   The global airline industry is expected to...