Fabrice Brégier non-executive Chairman, SCOR The SCOR directors...
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Allianz Global Corporate & Specialty SE appoints a new CFO
Munich: Allianz Global Corporate Specialty SE (AGCS) has appointed...
Canada energy sector under threat from Russia-aligned hackers, spy agency says
The Communications Security Establishment (CSE) signals...
Hannover Re scales back its exposure to coal-fired power plants
Furthermore, the Group has set itself the goal of no longer covering any coal-based risks in connection with power generation in its entire property and casualty reinsurance portfolio from the year 2038 onwards.
Munich Re Syndicate Singapore expands its Asian partnership
NECTAR’s professional line products are offered under the trading name of Nectar PRO, which is the Financial Lines business unit focused on emerging Asian markets in South East Asia and Indian sub-continent
France’s AXA provided insurance cover for two Notre-Dame contractors
In a statement released on Tuesday, AXA said its staff were cooperating fully with investigators.The French insurer also said it provided insurance coverage for some of the relics and religious artworks displayed in the cathedral.An AXA spokesman declined to estimate the company’s potential liabilities associated with the damage caused.
Global life reinsurers poised for growth, but mature U.S. market still key:AM Best
The Asia-Pacific direct life insurance market continues to grow faster than in developed countries, providing opportunities for life reinsurers to assume more business. China’s life insurance market is now the world’s second largest life insurance market. Additionally, legacy life/annuity blocks of business also have become meaningful acquisition opportunities for global life reinsurers, and recent acquisitions involving second- and third-tier reinsurers highlight growing market competition.
UAE Takaful companies catching up with conventional peers
Emily Thompson, financial analyst, said: “Despite the growth in GWC, Takaful operators still account for a modest part of the UAE’s overall insurance market, commanding a stable 17% market share in 2018. Penetration has been consistent in recent years, but whether Takaful insurers can gain a sufficient foothold in the market to challenge the conventional players remains to be seen.”
US jury sides with J&J in latest Talcum-Cancer claim
Plaintiff Robert Blinkinsop was diagnosed in July 2017 with mesothelioma, a rare cancer of the lining of the lung generally caused by asbestos exposure. Blinkinsop used Johnson’s baby powder daily for personal hygiene from 1977 to 1994 and on his children from 1992 to 1996, his attorney, Mark Bratt, said at trial. He also used the company’s Shower to Shower talc product.
U.S. State department adds Kidnapping Risk to travel advisories
The 35 countries making the initial list for the risk of kidnapping and/or hostage taking are: Afghanistan, Algeria, Angola, Bangladesh, Burkina Faso, Cameroon, Central African Republic, Colombia, Democratic Republic of the Congo, Ethiopia, Haiti, Iran, Iraq, Kenya, Lebanon, Libya, Malaysia, Mali, Mexico, Niger, Nigeria, Pakistan, Papua New Guinea, Philippines, Russian Federation, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Turkey, Uganda, Ukraine (in Russian-controlled eastern Ukraine), Venezuela, and Yemen
Foreign insurers eye China’s $1.6 trillion private pension business
China’s pensions assets, including those managed by the state, grew by 20 percent in 2017 to 11 trillion yuan ($1.64 trillion) and are expected to more than quadruple by 2025, consultancy KPMG said in a report this year.Underlining the potential, consultant Willis Towers Watson said China has one of the lowest ratios of private-employee annuity pension assets to GDP among major economies at 1.5 percent. That compares with 120.5 percent of GDP in the United States and more than 130 percent in Australia.
Reinsurance brokers permitted to open foreign currency accounts: RBI
“… reinsurance and composite insurance brokers registered with Irdai may open and maintain non-interest bearing foreign currency accounts with an AD bank in India for the purpose of undertaking transactions in the ordinary course of their business,” the RBI said.
India delays May order for Iran oil, awaits clarity on US sanctions: Report
Washington had given a six-month waiver to eight nations including India, allowing them to import some Iranian oil until early May. India, Iran’s top oil client after China, was allowed to buy about 9 million barrels a month.