War risk rates for a typical seven-day voyage period, which are set...
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Over 1,200 dead from floods in Indonesia, Sri Lanka, Thailand as rescue efforts intensify
The flooding and landslips killed at least 1,230 people, with 659...
Lloyd’s to venture into GIFT-IFSC, to apply for a license from IFSCA soon
This will be Lloyd’s second entry into Indian reinsurance market as...
Reinsurer Scor made aware of attempted fraud
“Scor urges you to be extremely vigilant and not to respond without prior verification to any payment request made by email, telephone or social networks. The aim of these fraudsters is to improperly collect personal data or to solicit a bank transfer or electronic...
Global healthcare benefit cost increases projected to largely continue into 2024, WTW survey finds
“The high cost of new medical technologies is a key reason for the persistently high trend. Furthermore, in some regions, ongoing geopolitical conflicts and resulting displaced populations have negatively affected medical costs due to an increased need for care and...
GIC reaches agreement to buyout Cinven’s stake in Miller
``This further investment in Miller is consistent with GIC’s strategy of developing long-term relationships with our portfolio companies and targeting the highest quality businesses. The defensive nature and strong market dynamics of the (re)insurance market, coupled...
WTW appoints new Corporate Risk & Broking Southeast Asia and Singapore leaders
``From these regions, we see increased awareness of risk and strong demand from companies for more sophisticated risk transfer solutions, driven by data insights and created with specialty expertise'' Singapore: WTW, a leading global advisory, broking and solutions...
Cyclone Michaung: Economic and Insured losses of Chennai floods will be much less than 2015 event
Preliminary estimate of 5th December devastation out of Cyclone Michaung in Tamil Nadu indicate the economic losses of around Rs 12,000 crore for the state and insured losses limited between Rs 1,500 crore to Rs 2000 crore Chennai: With all its fury and...
6 crore hospital admissions costing Rs 77,298 cr authorised under AB PM-JAY till Nov 30: Govt to LS
As of December 2, a total of 26,774 hospitals, including 11,733 private facilities, across the country have been empanelled to provide healthcare services to the scheme beneficiaries, Union Health Minister Mansukh Mandaviya said, adding that 4.98 crore claims have...
Africa Specialty Risks gets Lloyd’s in-principle approval to launch Syndicate in 2024 with managing agent Apollo
Mikir Shah, CEO, Africa Specialty Risks ASR Syndicate 2454 aims to begin underwriting in March 2024, and will focus on underwriting business across Africa, which represents around 2% of Lloyd’s business globally. This presents a unique opportunity for specialty risk...
Rising war risks prompt property insurers to rethink cover
“There’s a chance that the reaction to Ukraine and others is going to have more of an impact on other parts of the world that are not live situations right now but could be live in the future like Taiwan. You can’t get anything in Ukraine at this point in time. For...
Maersk introduces surcharge on Israel shipments to cover insurance
“Moving into 2024, insurance premiums continue to be raised for vessels bound for Israel, which has brought about the need for Maersk to officially implement an Emergency Risk Surcharge (ERS),” the Danish company said in a statement Shipping group A.P. Moller-Maersk...
Reinsurance 2024: Better terms & conditions and Profitability
Fitch forecasts an improvement in underlying profitability for the global reinsurance sector in 2024, and is maintaining its improving fundamental sector outlook Robert Mazzuoli, Director, Insurance,Fitch Reinsurance rate increases for property catastrophe business...