Fitch expects competition to intensify as supply outpaces demand,...
Category:
Reinsurance
Latest
Sompo to acquire Aspen for $3.5 Billion
James Shea, CEO of Sompo P&C, said “Strategic acquisitions have...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric...
Australia’s Optus hit with class action over cybersecurity breach
The class action members want compensation for the time and money required to replace identity documents and for distress, frustration and disappointment caused by the breach. The release did not specify an amount. Claimants include a stalking victim who fears her...
SCOR’s premium rise 5% to EUR 928 million in Apr 1 renewals
Jean-Paul Conoscente, CEO of SCOR P&C The main rate increases were achieved on non-proportional treaties (+23%), in line with the trends observed during the January 1, 2023 renewals (+24%), with notably average rate on line increases on CAT XL programs of 20% in...
Kshema General Insurance appoints Vyasa Krishna Burugupalli as its MD & CEO, to focus on Agriculture & Food Sectors
Vyasa Krishna Burugupalli, MD &CEO, Kshema General Insurance Company Hyderabad: Kickstarting its operations, Kshema General Insurance Company, the country's newest general insurance company with an exclusive focus on agriculture, has appointed Vyasa Krishna...
Scorching temperatures hit Asia’s power grids, raise region’s health risks
While this time of year is typically the hottest for India and parts of Southeast Asia, the soaring temperatures continue a pattern of severe weather over the past several years that’s testing the ability of governments to protect public health and prevent disruptions...
Gallagher launches new brokerage in Japan
Speaking on Gallagher’s expansion plans in Asia, Thomas Wang,CEO North Asia, said,`` “Gallagher has grown in Asia over the last few years and with a number of the emerging economic global powerhouses based in the region it is an area of expansion for us. Having a team...
MS Amlin expands Risk and Compliance functions with key senior hires
LONDON: MS Amlin, the Lloyd’s global (re)insurer, today announces the appointment of Ruth Adamson as Head of Insurance and Financial Risk, and Kevin Ball as Head of Compliance. Joining later this year, both new hires will report to Chief Risk Officer, Vishal Desai. MS...
Hannover Re latest company to leave Net-Zero Insurance Alliance
While Zurich had said it was leaving to focus on helping customers in the transition to a low-carbon economy, Munich Re said it was leaving because of anti-trust concerns The charge that companies in such climate alliances could be guilty of breaking anti-trust laws...
Global Nat Cat economic losses reach $77 Billion in Q1 2023, the highest Q1 total in 12 years, Gallagher Re
Public and private insurance entities covered at least an estimated $22B of that total, resulting in a 72% or $55B protection gap, the portion of the economic loss not covered by insurance The February earthquake sequence in Turkey and Syria accounted for an estimated...
Ransomware attacks, human error as main cause of cloud data breaches in India and worldwide: Report
More than a third (38 per cent) of respondents in India (37 per cent globally) have experienced a data breach in the past 12 months, including 23 per cent (22 per cent globally) reporting that their organisation had been a victim of a ransomware attack Respondents...
Cybersecurity nightmare in Japan can pose global risks
The country produces about 80% of fine chemicals for electronics and dominates the global supply of photoresist, a light-sensitive material that’s used in making semiconductor chips, according to Ulrike Schaede, professor of Japanese Business at the School of Global...