The downgrade follows months of revelations first reported by the...
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Climate-attributed U.S. Hurricane losses to increase by at aeast 10% over 20 yrs under selected scenarios: Aon
Aon plc has revealed how its academic collaborations are...
London’s Excel Centre wins insurance ruling on COVID-19 losses
Law firm Stewarts, which represented the owners of the ExCel...
Munich Re’s innovative coverage for battery performance in renewable energy
Peter Röder, Member of the Board of Management at Munich Re: “The ability to insure battery performance is a key piece of the puzzle in decarbonising our energy sector. For the first time, battery manufacturers can insure against the risk of their products not delivering as promised. With this new coverage, Munich Re has again demonstrated its pioneering role in the insurance of climate-friendly technology.”
Hannover Re profit jumps to EUR 1.06 billion in 2018 despite large losses
The combined ratio improved to 96.5% (99.8%) and was thus only marginally higher than the targeted level of 96% or better.
Property and casualty reinsurance was again fiercely competitive in the financial year just ended. Despite a high level of losses, both traditional reinsurers and alternative capital providers in the ILS market continued to make abundant capacities available. Prices and conditions in the property lines, in particular, consequently remained under pressure. Hannover Re was nevertheless able to act on profitable business opportunities in the various rounds of treaty renewals.
Amazon-JPMorgan-Berkshire Health-Care Venture to Be Called Haven
Haven wants to improve access to primary care, simplify insurance and make prescription drugs more affordable, according to the website. It will initially serve 1.2 million employees of Amazon, Berkshire and JPMorgan, though it later plans “to share our innovations and solutions to help others.”
China set to be the largest global insurance market by mid-2030s:Swiss Re
The seven largest emerging markets are forecast to contribute around 40% of global economic growth over the next decade
• China alone will count for more than 25% of global output
• From quantity to quality: maturing emerging economies will see more moderate, but also more stable growth • Emerging market insurance premiums are forecast to more than double over the next 10 years, growing four times faster than in advanced markets
• Premiums in emerging Asia are projected to grow three times faster than the world average over the next two years • China to become the world’s largest insurance market by the mid-2030s
Aon partners with insurtech firm on tracking marine risk accumulations
In an era of mega-ports and ultra-large container ships, re/insurers are highly exposed to risk accumulation during a catastrophe, said Aon in a statement. As a result, the need to monitor vessel movement and estimate cargo accumulation has become a critical part of exposure management and risk selection.
Aon eyes Willis Towers Watson acquisition, may be made via an all-share business combination
Aon has officially announced its intentions as per Irish regulatory requirements, stating that any deal was “in the early stages” and would be made via an all-share business combination.
Aon drops plans to acquier Willis Towers Watson
7 of top 10 most polluted cities in the world are in India; Gurgaon on top
“This has enormous impacts, on our health and on our wallets,” Yeb Sano, executive director of Greenpeace Southeast Asia, said in a statement released with the figures. “In addition to human lives lost, there’s an estimated cost of $225 billion in lost labor, and trillions in medical costs.”
What happened to MH370? Malaysia open to proposals to revive flight hunt
There is no new search planned, but Transport Minister Anthony Loke said at the event that the government was open to hearing proposals to resume the hunt. “If there are any credible leads and any specific proposals, especially from Ocean Infinity, we are more than willing to look at it,” he said.
U.S. bans Lithium Battery Cargo on passenger planes
U.S. regulators identified 39 incidents in air cargo transportation between 2010 and 2016, with 13 involving lithium batteries and smoke, fire, extreme heat, or explosion that would have been affected by the new rules. In one instance, packages of lithium ion cells were found smoldering in an aircraft unit load device during unloading, suggesting the initial thermal runaway likely occurred while the shipment was on the aircraft.