The U.S. views the new counterespionage law as a potentially...
Category:
International News
Latest
Ukraine cargo insurance policy suspended after Russia quits grain deal -Marsh
"It is currently on pause," said David Roe, head of UK cargo at...
Above-average global natural catastrophe insured losses reach estimated $52 billion in H1 2023: Gallagher Re
For all perils, the US accounted for 76% of all global insured...
Curv Partners with Munich Re to Commodify Digital Asset Insurance for Institutional Customers
“The novel cryptographic methods deployed in Curv’s Institutional Digital Asset Wallet Service reduce the risks associated with holding digital assets.Their approach enables us to underwrite a policy that covers customer-controlled wallets in Internet-connected settings. ,” said Ali Kumcu, Head of Cyber Innovation and Services, of Munich Re.
Munich Re appoints Linus Phoon CEO for Singapore & Southeast Asia
Linus will lead Munich Re’s reinsurance businesses in Singapore and Southeast Asia, providing clients with traditional reinsurance and complex risk solutions, as well as comprehensive consulting services.
InsurTech investment hits records in Q1, 2019; pricing tools in the spotlight:Willis Towers Watson
85 deals with a total value of $1.42 billion were announced in Q1, 2019, marking the third-straight quarter to deliver more than $1 billion in funding. Deal count increased by 35% over Q4, 2018, although total funding decreased by 11%. Some 54% of deals were outside the US, marking a continuing trend. Deal count in the UK increased by 50%, and in the US by 44%. However, deal count in China fell by 38% this quarter
Project Owl Wi-Fi Network for Natural Disaster Connections Wins IBM-Backed Contest
They have designed tiny electronic nodes inside baseball-sized rubber casings that create a special Wi-Fi network spanning more than 100 square miles that can be used to connect victims and first responders. It’s a simple and relatively cheap concept, but during a natural disaster when cell towers topple, technology fails and entire communities fall into darkness – communication can be the difference between life and death.
WHO welcomes Industry action to align with global trans fat elimination targets
Trans fat intake is responsible for over 500,000 deaths from coronary heart disease each year globally.
WHO Director-General Dr Tedros Adhanom Ghebreyesus met with IFBA representatives, including chief executive officers from several of the 12 companies comprising the alliance, on 2 May 2019 to discuss actions to take to eliminate industrial trans fats, and reduce salt, sugar and saturated fats in processed foods.
J&J agrees to pay about $1 billion to resolve hip implant lawsuits: Report
The $1 billion total includes an earlier settlement for more than $400 million and there are still about 4,500 pending suits by patients with artificial hips that were not made totally of metal or haven’t been surgically removed, Bloomberg added.
Brexit boom lifts Luxembourg insurance sector
Premiums in the non-life sector, including domestic business, jumped by 218 percent year on year thanks largely to the licensing of firms establishing bases in Luxembourg after the United Kingdom’s decision to leave the European Union, Luxembourg’s CAA said.
SCOR to implement an alternative natural catastrophe reinsurance scheme in France
Paris: SCOR notes the decision of the General Court of the European Union, which confirms the decision of September 26, 2016, by the European Commission concerning the guarantee granted by the French State to the CCR regarding natural catastrophe...
Hannover Re’s Apr 1 treaty renewals increased by 6.6 %
The reinsurer’s gross premium showed a significant growth by rising by 19.2 per cent at 31 March 2019 to EUR 6.4 billion (EUR 5.3 billion). Adjusted for exchange rate effects, growth would have reached 16.1%. The retention decreased to 90.4% (91.3%). Net premium earned climbed by 15.3% to EUR 4.6 billion (EUR 4.0 billion). At constant exchange rates growth of 12.7% would have been booked.
More than $1.1 billion raised through ILS in Q1 , market slows further
Another innovation was the first-ever issue of a £75 million bond dedicated to terrorism reinsurance. Weighted average last-12-month risk premium for non-US wind-exposed bonds jumped 2.2 points to 6.5% in Q1 2019, while for US wind-exposed instruments it rose 0.3 points to 6.1%. Seasonality has contributed to market heaviness, whilst loss-affected bonds continued to be marked lower.