In response to queries on the declining TFR, National University of...
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Munich Re appoints Owais Ansari as CEO, Life & Health Middle East and North Africa
Owais Ansari, chief executive officer, Life & Health, Middle...
Markel appoints Kevin Leung as chief underwriting officer for Asia
Kevin Leung, chief underwriting officer, Asia Pacific, Markel This...
J&J reported to settle most Pinnacle Hip Implant Lawsuits
Hip patients have been suing J&J and DePuy since 2010, alleging the devices failed prematurely or gave them metal poisoning. J&J took the metal-on-metal version of Pinnacle off the market in 2013.
Japan insurers to target China M&A in new phase after $50 billion overseas push
Earlier,the overseas push by the Japanese insurers, , largely excluded China, the world’s No.3 insurance market after the United States and Japan, due to foreign ownership curbs and fragile diplomatic relations between the two Asian economies.That will change with China set to allow foreigners to own majority stakes in domestic insurance joint ventures, and Beijing and Tokyo looking to forge closer business ties amid rising trade tensions with Washington, the bankers said.
Hannover Re net income at EUR 1.05 bn, logs a gross premium of EUR 19 bn in 2018
On the whole, prices as at 1 January 2019 were commensurate with the risk or slightly improved. Hannover Re maintains its emphasis on a selective underwriting policy under which minimum margin requirements take precedence over premium growth.
Accenture Software now does what 40,000 employees used to do
Accenture’s clients can also set custom rules for whether a system will process something automatically based on how much confidence the artificial intelligence software has in its own predictions. For instance, if a system were handling routine insurance claims, a company might allow it to automatically pay those claims as long as it had at least a 95 percent confidence that the decision was correct, Polishook said. If its confidence fell below that threshold, then the claim would be routed to a human claims handler.
Power & renewable energy companies facing considerable disruption:Willis Report
George Nassaouati, Head of Natural Resources, Asia at Willis Towers Watson, commented: “It is incumbent on the insurance industry to embrace the risks presented by these new developments and provide the appropriate risk advisory and risk transfer / retention solution. It is essential that today’s power and renewable organisations prepare themselves for the turbulence that disruptive change inevitably brings.”
ILS growth to $93bn in 2018 bodes well for a continued healthy market:Willis Re
In the face of multiple smaller catastrophic events in 2018 and a meaningful series of catastrophes in 2017, non-life cat bond issuance remained strong. About $9.2 billion of new capital was delivered, marking the second most active calendar year ever. Of $535 million in bonds issued during Q4, $125 million provides protection from California wildfire liability, $200 million grants peak multiperil protection, and $210 million covers U.S. earthquake (workers’ compensation).
Global ransomware attack could cost businesses almost $200bn, new study finds
Regionally, the US would be the hardest hit with $89bn at risk. Europe could lose $76bn, with Asia losing $19bn.The rest of the world could lose $9bn.
Despite the high costs to business, the report shows the global economy is underprepared for such an attack with 86% of the total economic costs uninsured, leaving an insurance gap of $166bn.
Lancet report blames ‘Big Food’ firms for fuelling obesity, climate change
The global rate of obesity almost tripled in the last four decades, with more than a third of the world’s adults now in a weight range that increases risks of heart disease, cancer and other disorders, according to the WHO. Meanwhile, almost half of children under the age of 5 don’t get needed nutrients — mostly in low- and middle-income countries — even as average weight increases.
Pilot of US-Bangla airline smoked inside cockpit: Reports
The report has pointed to the human discretion and the natural factor that contributed for the downing of the aircraft
Swiss Re makes digital side-bet as premiums languish
“It means the whole value chain is under significant pressure…Costs have become much more important over the last years and for the foreseeable future, so there will be continual pressure on costs, and not just for Swiss Re.”