Reinsurer Swiss Re on Monday joined Munich Re, Zurich Insurance,...
Category:
International News
Latest
Munich Re launches Next Gen AI-augmented underwriting solution
Munich Re also offers reinsurance on policies underwritten by these...
Covid kills one person every four minutes as vaccination rates fall
A key question is how to handle a virus that’s become less...
Indonesia’s Lion Air plane crashes near Jakarta, 188 on board feared dead
The crash is the worst airline disaster in Indonesia since an AirAsia flight plunged into the sea in December 2014, killing all 162 on board.
ILS as an established asset class continues its momentum:Willis Survey
James Kent, Global Chief Executive Officer, Willis Re commented: “The industry has widely reported the growth in the ILS market and this comprehensive survey further supports the development of ILS as an asset class despite the challenges of the catastrophe events in 2017
Shareholders of Singapore Reinsurer ACR Capital Eyeing Sale: Sources
The company’s owners, which include Temasek Holdings Pte and Khazanah Nasional Bhd., have asked banks to pitch for a role on a potential transaction, according to the people. A deal could value ACR at about $800 million, the people said, asking not to be identified because the information is private.
AIR Worldwide Develops Probabilistic Model for Global Cyber Risks
“Many insurers are challenged to understand how often various types of cyber incidents can occur and how they can affect the performance of their book. As a result, decisions on product development, underwriting, portfolio optimization, and capital allocation tend to be made with limited data, and too much weight is often put on intuition or broad assumptions. This is where probabilistic modeling can help the industry better manage cyber risk globally,” said Prashant Pai, vice president of cyber offerings at Verisk, the parent company of AIR Worldwide
Allianz Insurance Product Protects Firms Against Clean Energy Price Swings
The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts of wind projects, according to a blog post Tuesday. The contracts with the insurance giant Allianz SE reallocate weather-related risk away from corporate buyers of power
AXA XL gets in-principle approval for Brexit move
AXA XL said the Central Bank of Ireland (CBI) has approved, in principle, XL Insurance Company SE’s (XLICSE) move from the UK ahead of next year’s March 29 departure. As a Societas Europaea, XLICSE can also continue as the same legal entity in Ireland.
India and Bangladesh ink pacts for enhancing inland and coastal waterways connectivity
In an important understanding reached at between the two countries, the Standard Operating Procedure (SOP) for movement of passengers and cruise vessels on Inland Protocol route and coastal shipping routes have been finalised. These river cruise services are likely to commence between Kolkata – Dhaka – Guwahati – Jorhat and back.
Munich Re America Partners with BriteCore to Offer Personal Inland Flood Coverage in the U.S. to Insurance Carriers
“Many people don’t realize that their homeowners insurance policy typically excludes flood damage. If the property is located outside of a Special Flood Hazard Area (SFHA) or 100 year flood plain, flood risk may not even be top-of-mind for many people,” said Sanjay Mehrotra, Strategic Product Operations Manager, Munich Re America. “Partnering with BriteCore, we’ve made it easy for insurance carriers to offer a personal lines flood endorsement to their customers.”
Australia’s AMP sells life insurance arm at discount, bleeds funds
The 170-year-old company also revealed a sharp rise in client withdrawals from its Australian wealth management division in the three months to September, having admitted at a government-backed inquiry to charging customers for advice they never received and misleading regulators.
New global commitment to primary health care for all at Astana conference
“Although the world is a healthier place for children today than ever before, close to 6 million children die every year before their fifth birthday mostly from preventable causes, and more than 150 million are stunted,” said Henrietta Fore, UNICEF Executive Director. “We as a global community can change that, by bringing quality health services close to those who need them. That’s what primary health care is about.”