“This is the largest natural disaster we’ve ever experienced,”...
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Shippers warned to stay away from Iranian waters over seizure threat as US-Iran tensions high
A U.S.-backed maritime group called the International Maritime...
Japan braces for another typhoon with trains and flights canceled
Toyota Motor Corp., Mitsubishi Motors Corp., Honda Motor Co. and...
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.
Boeing did not disclose 737 MAX alert issue for more than a year, says FAA
Sunday’s statement marked the first time since the two fatal accidents that Boeing explicitly acknowledged doing something inadvertently in the development of the 737 MAX, albeit on an issue that it contends has no impact on safety.
Forgers are forcing $9-trillion global trade financing into digital age
As much as 80 percent of global flows of merchandise — worth about $9 trillion — is financed by some form of credit, guarantee or insurance, according to a global survey by the International Chamber of Commerce. Trade finance revenues were $39 billion in 2017.
Billionaire Warren Buffett gives new hint about his successor
Without answering directly, Buffett said Gregory Able, 57, and Ajit Jain, 67 — both promoted last year to the board of directors — would in the near future join him and long-time business partner Charlie Munger, 95, on the stage to answer shareholder questions.
41 feared dead after Russian passenger plane crash-lands in Moscow: Report
Investigators said they were looking into various lines of inquiry and it was premature to draw any conclusions about the cause of the accident.
Microsoft tools ease access to Blockchain, Artificial Intelligence for businesses
The company is also introducing a cloud-based blockchain service. The block chain, a ledger for keeping track of transactions among many participants, is used in the financial technology space, and Microsoft said it is working with JP Morgan Chase & Co on the bank’s Quorum offering.
UN praises India’s zero casualty policy, evacuation of 1 million
“The almost pinpoint accuracy of the warnings, the early warnings from the IMD, allows them to conduct a very well targeted evacuation plan which resulted in 1.1 million people mainly moving to about 900 cyclone shelters.”