The insurer's combined ratio, an important profitability metric for...
Category:
Non-Life
Latest
India’s insurance sector to be fastest growing among G-20, may scale $450 bn of prm in next decade: Swiss Re
Swiss Re officials(L to R) Mahesh H Puttaiah, Head Group Economics...
Red Sea war insurance rises with more ships in firing line
Insurance industry sources said that war risk premiums had risen to...
PartnerRe appoints John Mok as CEO Life & Health, Asia Pacific
Commenting on . Mok’s appointment, Marc Archambault, CEO Life & Health and Group Executive Committee member.said, “ We believe in the growth potential of these markets and Asia Pacific is an important part of growth plans for the Life & Health business. . Mok’s appointment underlines our commitment to the region, and to continuing to deliver reinsurance solutions and value added service to our clients in Asia Pacific. I look forward to leveraging John’s experience to continue to build the team, develop profitable business and grow the Life & Health business.”
1/3rd of UK’s medium-sized businesses likely to purchase cyber insurance since COVID-19 outbreak:GlobalData
“Fraudsters have capitalized on employees working from home – with phishing scams, in particular, on the rise – preying on fears surrounding the pandemic such as using COVID-19-based hooks in phishing emails. Employees who are out of the office and away from colleagues are more at risk as they are less able to check the validity.”
Peak Re appoints Andrew Souter as Director of Markets
Commenting on the new appointment, Franz Josef Hahn, Chief Executive Officer of Peak Re, said “Andrew’s extensive experience working with the capital markets and strong client relationships with global insurers will strengthen our ILS capabilities and will help us to continue to bring unique and innovative (re)insurance solutions to both our customers and investors as we expand further as an organisation”
Top shipping insurance group will not cover ships for Russia, Turkey pipelines projects
U.S. President Donald Trump’s administration has sought to curb the Kremlin’s economic leverage over Europe and Turkey and has warned investors in the two natural gas pipelines could face sanctions.
The International Group of P&I Clubs represents the world’s top 13 ship insurers and covers nearly 90% of the world’s ocean-going tonnage. The notice carried by its members said that all clubs had issued similarly worded circulars regarding Nord Stream 2 and TurkStream.
Led by Russia’s Gazprom, the $11 billion Nord Stream 2 pipeline project to double the capacity of the existing Nord Stream 1 link is more than 90% complete and scheduled to begin operating next year.
ONGC says fire at Hazira gas processing plant under control
“There is no casualty or injury to any person,” ONGC said on its Twitter account.
Surat Collector and District Magistrate Dhaval Patel, a senior city official, told Reuters the fire was caused by a rupture in a pipeline at the gas terminal. ONGC’s plant is in Surat, a city in Gujarat.
Renewable sector in India attracts $10-20 bn of investment:IEEFA
“Domestic and global investors are sitting up and taking notice of declining renewable prices plus the clear government policy alignment and ambition, and this is reflected in the very positive results of these recent auctions.”
AIR Worldwide Releases updated Multiple Peril Crop Insurance Model for China
An outbreak of African swine fever—a highly infectious and deadly disease—started impacting pigs in China in 2018, resulting in a loss of half of China’s 400 million pigs, or 40% of the world’s total agricultural pig population, as of the first half of 2020.
“China is a leading global producer of wood and paper products; the country’s forests can be insured under the national crop insurance scheme and incur large losses not only from extreme weather but also fire, pests, and disease,In addition, livestock (including poultry) policies now make up about a quarter of agricultural premiums in the country and have a large potential for losses. To get a comprehensive view of agricultural risk in China, companies must consider the risk to crops, forests, and livestock,”said Yizhong Qu, assistant vice president, AIR Worldwide China.
Lok Sabha approves labour reforms amid union protests
The three bills – the Occupational Safety, Health and Working Conditions Code, the Industrial Relations Code and the Code on Social Security – are part of Prime Minister Narendra Modi’s ambitious moves to liberalise conditions for investment.
Lawmakers from Modi’s Bharatiya Janata Party said during the debate the new laws would provide social security benefits to workers, including ride-hailing companies like Ola and Uber.
COVID-19 tally in India crosses 56-lakh mark
The COVID-19 case fatality rate due to the coronavirus infection has dropped to 1.59 per cent.
There are 9,68,377 active cases of coronavirus infection in the country which comprises 17.15 per cent of the total caseload, the data stated.
India needs to invest ₹3K-5K crore to give all Indians Covid vaccine: Zydus Cadila chairman
The requirement of the vaccine doses is going to be very high. Given the fact almost all vaccines are going to work at least two doses, if we look at India’s population and decide to immunise 50 per cent of the population, we would require over 130 crore doses and that’s not the capacity anybody has.
Even if people have the capacity to produce, it cannot happen in one day. It can only happen over a long period,
said Zydus Cadila Chairman Pankaj R Patel.
Another challenge we would have is “how long the immunity will last with this vaccine? If the vaccine is going to give a long-term immunity, it will be wonderful, but if it provides short-term immunity then we will have to keep on immunising people again and again,” he added.