According to the report, total reinsurance gross premiums written...
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Moody’s RMS estimates $4 to 6 billion in economic losses from Hawaii Wildfires
Michael Young, Vice President, Product Management, Moody’s RMS,...
Miller announces new leadership roles in Asia
Ron Whyte, Head of Miller Asia, said: “Asia forms an important part...
Airbus to scrap production of A380 superjumbo
The world’s largest airliner, with two decks of spacious cabins and room for 544 people in standard layout, was designed to challenge Boeing’s legendary 747 but failed to take hold as airlines backed a new generation of smaller, more nimble jets.
AIG swings to loss, hit by catastrophes and volatile market
The company’s general insurance unit reported an underwriting loss of $1.1 billion, compared with a loss of $846 million a year ago, largely due to Hurricane Michael and the California wildfires.Still, AIG said its general insurance accident year combined ratio – which excludes changes from losses incurred in past years – was 98.8 for the quarter, compared with 100.2 a year ago.
Reliance Insurance files fresh IPO papers, removes Edelweiss as merchant banker
The firm had earlier filed its draft papers in October 2017 for which it received the Securities and Exchange Board of India’s approval in November 2017.
The Sebi’s approval for IPOs is valid for one year, which expired on November 29, 2018, in the case of Reliance General Insurance Company, according to data available with the markets watchdog.
Deposits in Jan Dhan accounts set to cross Rs 90,000 crore
New Delhi: Total deposits in Jan Dhan accounts are set to cross Rs 90,000 crore with the government making the flagship financial inclusion programme more attractive especially by doubling accident insurance cover to Rs 2 lakh. According to data from the...
Munich Re expects prices to improve in Apr 1 renewals
Gross premiums written (GPW) by the whole group in 2018 were €49 billion, slightly down from €49.1 billion in 2017. The company’s net profit of €2.2 billion for the year was, in line with its target of €2.1 billion to €2.5 billion
“Insurers perceived to be moderately equipped to deal with new age risks”
Bhargav Dasgupta, MD & CEO, ICICI Lombard, “New age risks are already a reality today, globally and in India. It is most critical that Indian firms take cognizance of this aspect. As is evident from our ‘Managing New Age Risks’ survey, being prepared and having the right risk management framework in place is the need of the hour.”
Insurers need to diversify investments to tackle climate risks:IRDA chief
Alice Vaidyan, CMD, GIC Re said that the reinsurance and insurance sector have witnessed varies catastrophes in the last few years and in case of hurricane scenario, some patterns can be found. She emphasised that there is urgent need by insurers and govt. to put forth finances and support the risk management processes.
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.
New India Assurance records a net profit of Rs 850 cr in Apr-Dec period
Atul Sahai, chairman and managing director.said, “Q3FY19 has been challenging quarter for the company with multiple CAT events like Typhoon Trami, Hurricane Michael, California Wildfires, Kuwait floods and further adverse development in Hurricane Jebi and Hurricane Irma severely impacting the foreign operations in UK, Japan, Bahrain, Aruba and Curacao. The overall impact of these events in Q3FY19 was about Rs 450 Cr.
On the positive side, the company has taken steps taken to correct the pricing in health line of business is getting reflected in the improved results by this line of business, he said.
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.