Israel is among countries in the Middle East already considered a...
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Global economic losses from extreme weather could hit $5 trillion -Lloyd’s
“The global economy is becoming more complex and increasingly...
Losses from China disasters reach $42 billion in first nine months of 2023
The emergency management ministry unveiled the unprecedented toll...
Prudential Vietnam and SeABank establish exclusive bancassurance partnership
Prudential Vietnam will also become the preferred life insurance provider to BRG Group Joint Stock Company (“BRG Group”), a leading conglomerate in Vietnam with approximately 10 million customers. The partnership is expected to be effective from April 2020.
Capsicum Re launches aviation reinsurance team
Matt FitzGerald, Managing Partner of the London Property and Specialty division, said: “2019 was a challenging year for the aviation market having suffered from years of declining rates and notable loss activity.However, there were also a number of positive developments: our joint venture partner Gallagher acquired JLT’s global aerospace division, there were a number of new entrants into this class as well as exits and there is an upwards pricing momentum in the aviation market. We are entering this market as we see an opportunity to bring our client focused, holistic entrepreneurial approach to this sector.”
Guy Carpenter appoints Jeff Saper as CEO of Pacific Region
In his new role, Mr. Saper will be responsible for overseeing the company’s Treaty and Facultative activities in the Pacific region and will focus on further developing its growth strategy and strengthening its capabilities. Based in Sydney, Mr. Saper will report to Tony Gallagher, Asia Pacific CEO.
Australian bushfire insurance losses at $431 mn from 6000 insurance claims
Insurers have booked hundreds of hotel and motel rooms and are providing emergency accommodation and financial assistance to many customers. And assessors have been mobilised from all over Australia and New Zealand to help examine properties in fire-affected regions as soon as it’s safe to enter them.
Daimler recalls 744,000 US Mercedes-Benz 2001-2011 cars for faulty sunroofs
Last month, Mercedes-Benz USA agreed to a $20 million civil penalty over its handling of U.S. vehicle recalls after a year-long U.S. government investigation into 1.4 million recalled vehicles.
Pak military recruits youth for cyber propaganda war on India
The youths have been given a detailed list of social media handles of influential Indians and have been asked to set a different narrative about Indian leaders, soldiers and bureaucrats.
Oil prices surge after US strike kills Iranian general
“This is more than just bloodying Iran’s nose,” said AxiTrader’s Stephen Innes. “This is an aggressive show of force and an outright provocation that could trigger another Middle East war.”
Terror threat: US asks its airlines to exercise caution in Pakistan airspace
“The ongoing presence of extremist/militant elements operating in Pakistan poses a continued risk to US civil aviation from small-arms fire, complex attacks against airports, indirect weapons fire, and anti-aircraft fire, any of which could occur with little or no warning,” it said.
January 1, 2020 reinsurance renewals reflect asymmetrical market:Guy Carpenter
David Priebe, Chairman of Guy Carpenter, added: “The reinsurance market enters 2020 in a solid position with initial analysis of dedicated reinsurance capital up slightly as compared to a year ago, bolstered by mid-single digit growth in rated capital in 2019. Accounting for the impact of trapped capital, total available capital at January 1 is close to flat. While reinsurers will continue to deploy capacity cautiously, with cedents’ performance and loss experiences scrutinized closely, the sector remains well capitalized overall.”
America is still waiting for Trump’s ‘much better’ Replacement for Obamacare
Trump says a health insurance overhaul can be done in a second term if voters give him a Republican Congress as well as a reelection win.