Ukraine is considering the possibility of insuring ships going...
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Europeans lack insurance protection as wildfires and drought batter the region
When it comes to disaster response, the ECB sees insurers as the...
Ratings firms struggle with climate risk in $133 trillion market
As the world reels from the mounting impact of heat waves, droughts...
Chinese carriers, Ethiopian Airlines suspend use of Boeing 737 MAX 8 aircraft after crash
Indian aviation regulator DGCA will also seek information from Boeing as well as Jet Airways and SpiceJet operating Boeing 737 MAX aircraft in the wake of plane crash in Ethiopia, according to senior official.
Hannover Re announces the launch of insurtech initiative
The online platform provides access to a diverse range of solutions spanning the entire value chain, propelling the insurance industry forward by making it easier to find and implement new technology.
157 feared dead after Nairobi-bound Ethiopian airline crashes
The airline said: “Search and rescue operations are in progress and we have no confirmed information about survivors or any possible casualties.”Aviation websites identified the aircraft as a new 737 MAX 8, the same plane that crashed in Indonesia in October, killing 189
Hybrid car-plane, van with gemstones: Luxury takes centre stage at Geneva Motor Show
The Battista is the first so-called hypercar – which are ultra-light, ultra-fast aerodynamic cars – that is fully electric, according to a Pininfarina sales rep on the floor.Only 150 Battistas will be made, each with a 1,900 horsepower engine can go from 0 to 100 kilometres (0-62 miles) per hour in less than two seconds. The vehicle, which carries a price tag of around two million euros ($2.2 million), was conceived for enthusiasts who have “money … and a really great passion for cars,” the sales rep said.
EU and UN Women partner to boost women’s economic rights and opportunities in Asia
Anna-Karin Jatfors, UN Women’s acting Regional Director for Asia and the Pacific, said: “Women make crucial contributions to the region’s economies. WeEmpower Asia will create transformative partnerships between private sector companies, female entrepreneurs and women-led businesses, and policymakers to drive social change. It will benefit not only women, but also societies and economies as a whole.”
Pool Re’s new initiative to make businesses more resilient to terrorism in UK
Commenting on the collaboration, Minister of State for Security, Ben Wallace MP, said: “This project is one of the first of its kind – a collaboration between the police, the insurance sector, and the Government that will help to keep the country safe and secure. If we are to properly respond to the terrorist threat, we need to ensure everyone plays their part. That is why partnerships like this one are so vital and I thank Pool Re for their leadership.”
Lloyd’s appoints Hayley Spink as head of global operations
The appointment reflects Hayley’s global operations experience as well as her immense contribution as Brexit Programme Director, where she has been instrumental in establishing Lloyd’s Brussels subsidiary to enable the Lloyd’s market continued access to the European Economic Area (EEA) post-Brexit.
World’s biggest sovereign wealth fund to decide on dumping oil
The decision is also important given the fact that the positions taken by the fund — which controls 1.4 percent of global market capitalisation — are closely watched by other investors.In another significant move, the fund has already pulled out of the coal industry, both for environmental and financial reasons.
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.