As at year-end 2024, the Syndicate consisted of 20 members from...
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Scor under examination over former chair’s alleged acts related to a Covea deal
Denis Kessler, former chairman, SCOR Denis Kessler, who was SCOR’s...
Global cyber insurance market to reach $ 16.3bn in 2025,says Munich Re
Thomas Blunck, CEO, Reinsurance, Munich Re: “As digitalization...
Berkshire Hathaway to buy Alleghany for $11.6 bn in return to dealmaking
Warren Buffett, chairman, Berkshire Hathaway Inc Buffett is diving deeper into the world of insurance with the Alleghany deal, an industry that has been key to the growth of Berkshire into a conglomerate with a market value of more than $750 billion With Alleghany,...
Chinese passenger plane with 132 aboard crashes in Guangxi province, no sign of survivors
Broadcaster CCTV said the accident involving a China Eastern Airlines Boeing 737 and occurred near the city of Wuzhou in Teng county. It said rescuers had been dispatched and there was no immediate word on numbers of dead and injured The twin-engine, single aisle...
Russia-Ukraine war: GIC Re cancels war risk covers for Marine Cargo,Hull and Airlines around affected areas , not to re-issue them with higher premiums
Ukrainian and Russian waters in the Black Sea and the Sea of Azov” as one of the listed territories for cancellation of war risk covers by GIC Re GIC Re has a small portfolio of Russian aviation risks for which Notice of Cancellation (NOC) of cover has been...
Bangladesh seeks $22.4 million after missile hits ship in Ukraine
The war risk cover was provided by Dhaka-based Sadharan Bima Corp. and reinsured through Lloyd's of London broker Tysers, a source at Sadharan Bima said Sadharan Bima's exposure was 10% with Tysers covering the remaining 90% Insurance premiums have soared by over 100%...
India’s stray missile put dozens of passenger jets at risk
Several planes passed through the direct trajectory of the missile that day, which flew from the Indian garrison town of Ambala and ended up in Mian Channu in Eastern Pakistan. They included a Flydubai jet heading to Dubai from Sialkot, an IndiGo plane going from...
Aircraft insurers brace for deluge of Russia claims, with Lloyds on hot seat
The Financial Times reported Thursday that Lloyd’s of London is expecting a “significant but manageable overall loss” with a final bill between $1 billion to $4 billion after reinsurance pays out, citing a person familiar with the matter. The exchange didn’t respond...
Swiss Re announces new appointments in Asia and North America
Ivan Gonzalez has been appointed CEO Reinsurance China and China country president with effect from 1 July 2022 Katie McGrath will succeed Ivan as Regional CEO for Swiss Re Corporate Solutions in North America Russell Higginbotham, chief executive officer Reinsurance...
Reliance General Insurance to provide cover to One Moto India’s e-two wheelers
Electric two-wheeler maker One Moto India on Thursday said it has partnered with Reliance General Insurance to provide motor insurance to its customers. The company, which has launched three electric scooters -- Byka, Electa, and Commuta, said the partnership will...
Japan manufacturers restart some of the northeast’s quake-hit plants
Renesas Electronics Corp, which makes nearly a third of the microcontroller chips used in cars globally, said a stop on two factories and a partial stop on a third remained in place Tokyo: Japanese manufacturers began restarting production at some of the plants that...
Swiss Re cuts fossil fuel cover for oil, gas to protect climate
In its annual sustainability report released Thursday, Swiss Re said it would no longer insure projects that get the go-ahead from their parent company from 2022, unless the company has an independently verified, science-based plan to reach net-zero emissions Now, the...