The two parametric products — for extreme rainfall and drought-risk...
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AIA Australia deploys SCOR’s VClaims
Tracey Crowe, General Manager for Claims and Underwriting at AIA...
UIB partners with CyberCube to accelerate its growth across LATAM and Asia
Dimaggio Rigby, Head of Cyber at UIB, added,“The cyber landscape is...
UNDP, BMZ, Generali and ICMIF Foundation deliver world’s largest inclusive insurance innovation programme across 30 countries
Marcos Neto, UN Assistant Secretary-General and Director, UNDP The global protection gap (the difference between financial losses and what is covered by insurance) leaves 9 out of 10 people in developing countries without insurance coverage when shocks such as...
Boeing may face first civil trial over payouts to Ethiopia crash victims’ families
An eight-person jury would be tasked with deciding how much Boeing should pay to the families of Mercy Ndivo, a 28-year-old mother originally from Kenya, and 36-year-old United Nations consultant Shikha Garg, who was from India CHICAGO: More than six years after a...
Marsh appoints Andrea Bono as CEO of India, Middle East, and Africa
Andrea Bono, CEO=designate, India, Middle East, and Africa (IMEA), Marsh McLennan Bono will report to Flavio Piccolomini, CEO, Marsh McLennan, International, and will be based in Dubai FROM Jan 2026.All the CEOs from IMEA regions including Sajay Kedia, who is heading...
Hurricane Melissa to trigger Jamaican Cat Bond, reinsurance losses
Hurricane Melissa will trigger the $150 million, International Bank for Reconstruction and Development (IBRD) Capital-at-Risk (CAR) Jamaica 2024 parametric catastrophe (cat) bond. New York: Fitch Ratings expects minimal disruption to the global (re)insurance sector...
Allianz Trade extends geographical footprint to new location Vietnam
Despite potentially facing higher US tariffs than its ASEAN peers, Vietnam's strengthening position in global trade and global supply chains is expected to continue to underpin broader economic growth in the medium-term, fuelled by exports (especially in the...
Jamaica’s insured losses from Hurricane Melissa likely to fall on reinsurers:AM Best
In its Best’s Commentary, “Jamaica's Insured Losses From Hurricane Melissa Likely to Fall to Reinsurers,” AM Best notes thatinsurance penetration in Jamaica is low as only a small portion of property is insured on the island, which will limit insured losses. OLDWICK,...
Starr to acquire IQUW group, set to become ninth-largest agency operating at Lloyd’s
Outside of the Lloyd’s market, Starr writes commercial non-life insurance globally, with coverage in over 170 countries across 6 continents. Following completion of the transaction, Peter Bilsby, IQUW Group’s chief executive officer, will lead Starr’s international...
World’s first Climate Resilience Bond issued by Tokyo Metropolitan Government
“This new bond label is a notable development for the market.The bond’s oversubscription “signals that the market is ready to allocate capital to these types of investments,”Melissa Cheok, associate director at Sustainable Fitch The Tokyo Metropolitan Government...
Hurricane Melissa makes Cuba landfall after lashing Jamaica
The hurricane is expected to result in property damages costing between $5 billion and $10 billion in Jamaica, according to an estimate by Cotality, a property intelligence company. Hurricane Melissa made landfall in Cuba less than a day after it became the strongest...
Catastrophe bond investors brace for Jamaica payout
Depending on exactly where Melissa hits Jamaica, total losses may range from $5 billion to $16 billion, according to Chuck Watson, a disaster modeler with Enki Research. Investors in a catastrophe bond tied to Jamaica look set to experience a trigger event as...