British individual and workplace health insurers paid out a record...
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First bond to insure against cyber attacks issued
Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond,...
After Munger’s death, Berkshire succession comes into focus
Ajit Jain,Vice Chairman, Insurance Operations, Berkshire Hathaway...
Aon’s partners with GK8 for providing insurable digital-asset storage tech
“We have worked hard to demonstrate the validity of GK8’s solution to insurers so that the company’s clients can benefit from pre-negotiated insurance coverage to protect the digital assets in their care, custody, or control,” says Tom Davis, Client Director of Aon UK Ltd.
Lloyd’s new API enhances and simplifies electronic placement
Jennifer Rigby, Chief Operations Officer and Executive Sponsor of the Future at Lloyd’s, said:“This is an exciting new development that will enhance and simplify the flow of electronic placement data across the market, as we continue to progress the development of the next generation version of PPL. At Lloyd’s we want to make digital solutions that deliver better outcomes for our customers in a way that benefits the entire market. We are committed to sharing these benefits as quickly as possible using an open source framework that engenders even greater collaboration and engagement across the Lloyd’s ecosystem.”
DIFC strengthens its position as region’s reinsurance Hub
During the last 16 years, DIFC has emerged as the leading reinsurance hub in MEASA region. It is now home to more than 100 registered insurance, reinsurance, captive firms and insurance-related entities serving the market, including three of the top five global insurance companies. The Centre has attracted world-renowned global companies including Munich Re, Lloyd’s, Berkshire Hathaway Specialty, RGA, Korean Re, AIG, Zurich, Marsh, and AON.
80% of working Indians have experienced income loss: Generali study
95 per cent of Indians surveyed expect some form of relief in the case of income loss. 53 per cent of those who have experienced losses expect help from the government. 60 per cent are planning to dig into their savings and investments, while 39% expect help from family members. Significantly, 40 per cent of Indians expect their employers to step in with some form of relief.
Insurtech Lemonade files for IPO, to be listed in NY Stock Exchange
Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything.
Lemonade is currently available for most of the United States, Germany and the Netherlands, and continues to expand globally.
ICICI Lombard launches Rs 5 lakh domestic multi-trip cover for an anuual premium of Rs 499
For domestic travelers who may be worried about stepping out during the COVID-19 pandemic, this unique, all-in-one insurance product offers a comprehensive bouquet of benefits that cover losses arising from trip cancellations, home burglary while travelling, missed connecting flights, lost baggage and more
IRDAI scraps long-term package motor insurance products from Aug 1
Effectively,now the insurers have to go by another circular issued by the IRDA on June 21, asking them to make available stand-alone annual own damage covers)including standalone OD cover for fire and /or theft if opted for by the policy holders for cars and two-wheelers , both new and old
Munich Re’s ERGO to acquire 24.9% stake in Chinese P/C Insurer
China has been one of the insurer’s most important strategic markets for about 15 years, said ERGO noting that it founded its Chinese travel insurance and health service company in 2005 and in 2013 formed ERGO China Life, its life insurance joint venture with the state-owned company Shandong Asset Investment Holdings Co. Ltd. In 2019, ERGO launched the regional headquarters of ERGO China.
Coronavirus Situation “Worsening” Worldwide: WHO
After East Asia, Europe became the epicentre of the disease, but has now been overtaken by the Americas.
“Although the situation in Europe is improving, globally it is worsening,” WHO chief Tedros Adhanom Ghebreyesus told a virtual news conference in Geneva.
AXA XL appoints Xavier Veyry as CEO Asia & Europe
Veyry is currently Country CEO of AXA China and Chairman of AXA Tianping in China and AXA General Insurance in Korea. Over the span of his 24-year career at AXA, . Veyry has held several CEO and leadership positions around the world and has lived and worked in 12 countries across the Middle East, Asia and Europe.He will step down from his role as CEO of AXA China later this year to lead AXA XL’s Asia & Europe business from Dublin, Ireland.