George Attard, CEO for Reinsurance Solutions for APAC , Aon In the...
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German reinsurers post profit falls after $1.9 billion Los Angeles fire claims
“The devastating wildfires in California are another example of how...
India approves 3 more Russian insurers to provide marine cover
With the granting of the permits to Sberbank Insurance, Ugoria...
Warming Africa threatens insurers’ quest for profit
Temperatures in southern Africa rose at twice the global rate on average in the five years leading up to 2019, according to a report by the Intergovernmental Panel on Climate Change Yet insurers are undeterred, with some looking to expand even in vulnerable...
Munich Re elevates Akash Gupta as MD and head of Southeast Asia life and health
With effective from July 1, Munich Re has elevated Akash Gupta as managing director and head, Southeast Asia life and health. Gupta is currently Munich Re’s head of life and health Asia valuation and planning. Based in Singapore, Gupta reports to David Hughes, CEO,...
Howden Group acquires TigerRisk, creates a new $30bn force in global insurance broking
David Howden, CEO, Howden Group The partnership represents approaching $400m of combined reinsurance revenues David Howden, CEO, Howden Group said: “ Not only does the combination create an unrivalled digitally driven reinsurance and capital markets business...
Russia to use state guarantees to bypass EU ban on insuring maritime oil deliveries to 3rd countries: S&P
Trading, insurance and shipping executives said last week that such a ban could further complicate trade in dry bulk and liquid commodities with Russia, making them more expensive, delaying scrapping of old ships, pushing up global freight rates and encouraging...
AXIS Re to exit property reinsurance business, Ann Haugh will replace Arora as new CEO
“The decision to close our Property Reinsurance business was not taken lightly and was driven by the significant and increasing effects of climate change and the challenges faced by the catastrophe reinsurance market. We are committed to doing all we can to help...
Ukraine war and cyber resilience combine to temper global ransomware activity: Howden report
Shay Simkin, Global Head of Cyber, Howden, commented: “Market conditions remain difficult, but two potential tailwinds may help companies and insurance carriers as this year progresses. The first is off the back of more favourable ransomware trends following...
Gallagher Re continues to strengthen APAC region with senior hires
Mark Morley, Managing Director of Asia Pacific at Gallagher Re, said, “ These latest senior appointments build out our strategic analytical, actuarial and client engagement capabilities across the wider Asia Pacific region, which continues to be a significant growth...
Allianz sells a majority stake in its Russian operations
The partial sale would result in a 400 million euro ($429.80 million) hit to Allianz’s net profit, the company said. Companies have been scrambling to shed assets in Russia since the invasion, which Russia has called a “special operation.” The insurer Allianz said on...
Defeat device car owners can claim damages – EU court adviser
Defeat devices are mechanisms or software that can change vehicle emissions levels, leading to disputes over whether manufacturers use them to mask the true pollution levels of their vehicles. Volkswagen admitted in 2015 to using software to cheat U.S. emissions tests...
EU accords final nod to new sanctions on Russian oil and Sberbank
Apart from banning seaborne imports into Europe, the new sanctions also include an immediate ban on insuring ships carrying Russian oil elsewhere, an EU official told Reuters, while existing contracts are to be phased out over six months BRUSSELS: The European Union...