Despite potentially facing higher US tariffs than its ASEAN peers,...
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Jamaica’s insured losses from Hurricane Melissa likely to fall on reinsurers:AM Best
In its Best’s Commentary, “Jamaica's Insured Losses From Hurricane...
Starr to acquire IQUW group, set to become ninth-largest agency operating at Lloyd’s
Outside of the Lloyd’s market, Starr writes commercial non-life...
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...
Lloyd’s of London SPAC venture scrapped due to volatile markets
Following a frenzy of deals in the early days of the COVID-19 pandemic, SPACs have lost popularity as they struggle to find businesses to merge with. Others have seen lackluster stock performance after acquiring a target Financials Acquisition Corp. said Monday it...
Tokio Marine Holdings launches disaster prevention & mitigation subsidiary
Tokio Marine Resilience will promote comprehensive disaster prevention and mitigation solutions through planning, developing and providing new services Tokyo: Japanese major Tokio Marine Holdings, Inc. (TMHD”) has announced the establishment of a 100 per cent owned...
SBI General Insurance issues its first surety bond as bid security for NHAI
NHAI has been working closely with Highway Operators Association of India (HOAI), SBI General Insurance and AON India Insurance to implement this initiative Insurance surety bond has been issued for NHAI monetization bid of TOT bundle 14 @ 0.25% by the insurer without...
GIC Re’s net profit falls 14% to Rs1605 cr in Q2FY24, resumes topline growth
``Having had significant degrowth in last few quarters, we believe that we are at a point where growth with profitability should drive our business strategy'' N Ramaswamy, CMD GIC Re Though, GIC Re’s underwriting losses have risen by 60 per cent y-o-y to Rs 1472...