International News

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...

Cat hit Markets see price rise at 1 January renewals:Munich Re  

Reinsurance       Feb 06, 2018

Munich:  Munich Re has said prices for the reinsurance treaties increased in the renewals as at 1 January 2018, particularly in the markets most affected by natural catastrophes.    ``Other markets and branches were also freed from the pricing pressures of previous years, and price development...

UK to double health surcharge for foreign visitors, students

Health       Feb 05, 2018

LONDON: The UK government on Monday announced plans to double a so-called "health surcharge" paid by long-term visitors and students from countries outside the European Union (EU) including India to 400 pounds per year. The surcharge, introduced in April 2015, will rise from 200 pounds...

Singapore prepares for terrorist attack

Risk Management       Feb 04, 2018

SINGAPORE: Armed officers patrol a train station where television screens and giant posters warn of the threat from terrorists. Nearby, fake gunmen storm a shopping mall in one of many recent terror attack simulations. But this is not some war-ravaged country. It is one of...

Swiss Re further strengthens its position in Asia

Reinsurance       Jan 31, 2018

Singapore: Swiss Re, the largest reinsurer in the world, has strengthened its presence in Asia with the launch of its regional headquarters, Swiss Re Asia Pte. Ltd. (Swiss Re Asia), in Singapore, and the appointment of a new regional Board of Directors for the entity.    ...

$344 bn global economic losses in 2017, a record nat cat year: Aon report

Disaster Management       Jan 24, 2018

Chicago: Aon Benfield's Weather, Climate & Catastrophe Insight: 2017 annual Report reveals that there were 330 natural catastrophe events in 2017 that generated economic losses of USD353 billion – of which 97 percent (USD344 billion) was due to weather-related events, including Hurricanes Harvey, Irma and...