Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond,...
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After Munger’s death, Berkshire succession comes into focus
Ajit Jain,Vice Chairman, Insurance Operations, Berkshire Hathaway...
US warns of evolving threats to ships sailing in Red Sea
Most insurers already charge extra premiums for sailing through...
Sitharaman to address global reinsurance meet in Mumbai on Thursday, to promote India as a global reinsurance hub
The power packed event will be addressed by Vivek Joshi, secretary, Department of Financial Services, Debasish Panda, chairman, IRDAI, K. Rajaraman, chairperson, IFSCA, Hasmukh Adhia, chairman, GIFT City, Siddhartha Mohanty, chairman, Life Insurance Corporation New...
Spiraling climate costs make insurance unaffordable for some Australians
Over a million households now face home insurance affordability stress, As a growing number of people dump or scale back their insurance, a “protection gap” is emerging, said Andrew Hall, head of the Insurance Council of Australia Increasing numbers of Australians are...
PSU insurers’ shares see sudden spurt on Friday
After lying low in recent years, on Friday GIC Re's share price has risen by 15 per cent to Rs 304.45 while NIA's scrip has gone up by 20 per cent to Rs 209. LIC's share gained 10 per cent and closed at a monthly high of Rs 678 on Friday Mumbai: Though , Sensex fell...
AM Best revises GIC Re’s Credit Rating outlooks to positive from stable, assigns National Scale Rating
Ramaswamy Narayanan, chairman and managing director, GIC Re The revision of the Long-Term ICR outlook to positive from negative reflects an improvement in AM Best’s view of GIC Re’s balance sheet strength and ERM fundamentals `With positive Credit Rating...
Electronic Health Records can speed up underwriting process by more than seven times: Swiss Re study
Swiss Re's extensive learnings emphasize the significance of digital Electronic Health Records (EHRs) for quicker and more accurate underwriting decisionsEHRs could replace Attending Physician Statements (APS) in nearly 50% of cases that originally relied on APS only...
Marsh partners with Ukrainian govt and insurers for cost-effective covers for Black Sea grain shipments
Denys Shmyhal, Prime Minister of Ukraine, said: “The launch of the Unity facility will enable Ukraine to provide vital food supplies to the world at the same time as supporting the Ukrainian economy and keeping the Black Sea open for international trade. This...
Cyber ‘Catastrophe Bonds’ set to test bond markets
Beazley Plc, which owns specialist insurers across Europe and the US, is exploring a potential $100 million cyber cat bond, according to Artemis, a research firm specializing in insurance-linked securities. And AXIS Capital is preparing to issue a $75 million cyber...
Russian flagship carrier Aeroflot says it clinches deal with lessor
Singapore-based BOC Aviation began legal action in November 2022 in Dublin in pursuit of claims against 16 insurers over aircraft the lessor owned that have been stuck in Russia, an Irish High Court filing shows Russian flagship carrier Aeroflot said on Thursday it...
Bank of England to deepen system-wide stress test for banks, insurers and pension schemes in 2024
The Bank wants to see how market players cope when there are huge demands for liquidity, such as meeting extra margin calls on positions in a short time. London: The Bank of England said on Friday it would start the second leg to its first system-wide stress test of...
Ukraine export corridor freight costs reverse brief rise
As a result of the Russian attack, sea freight rates rose $20 a tonne and the number of shipowners willing to load in Ukrainian ports decreased, Spike Brokers, which tracks and publishes export statistics in Ukraine, said on Telegram early on Friday Freight costs for...