India’s insurance market projected to be the G20’s fastest-growing...
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India set to reject oil tankers sanctioned by US for transporting Russian oil
A senior Indian bureaucrat told reporters that sanctioned vessels...
Moody’s to acquire CAPE Analytics, adds AI-powered geospatial property risk intelligence to its insurance risk models
“By combining our CAT risk models with CAPE’s AI-powered property...
Global insured Cat losses rise to USD 112 billion in 2021, the fourth highest on record: Swiss Re
The two costliest natural disasters of the year were both recorded in the US. Hurricane Ida wreaked USD 30 – 32 billion in estimated insured damages,including flooding in New York, and winter storm Uri caused USD 15 billion in insured losses, ”In 2021, insured losses...
Powerful quake strikes Indonesia; residents flee into streets
Alfons Hada Betan, head of East Flores Disaster Mitigation agency in Larantuka said there were no immediate reports of damage and the quake was felt for several minutes as people fled from their homes.People said on social media the earthquake was also felt strongly...
Investors push world’s top chemicals companies over hazardous substances
The move by 23 investors including Aviva Investors and Storebrand comes as regulators toughen rules around their use and as analysts warn some companies could face billions of dollars in associated clean-up and compensation costs. In a letter to the world's 50-biggest...
Deal or no deal, insurance rates soar to cover M&A boom
Potential buyers take out insurance to protect against issues such as misrepresentation by a target of its performance or order book, while sellers buy cover to ensure a clean exit. The M&A insurance market has risen to more than $5 billion from less than $3...
Swiss Re agrees to sell elipsLife to Swiss Life International
Andreas Berger, Chief Executive Officer Swiss Re Corporate Solutions, said: “We are very pleased to have found the perfect partner in Swiss Life to take elipsLife into a successful future. The sale will allow Corporate Solutions to focus on continuing the strong...
Canada’s CPP Investments seeks to sell insurance groups in strategy U-turn
Private equity firms and investment managers including Blackstone Inc, Brookfield Asset Management and KKR & Co Inc have been building up their insurance arms in the last two years. They see an opportunity to use the capital from life insurance and annuities...
AM Best Maintains Negative Outlook on China’s Non-Life Insurance Industry
Motor insurance, which accounted for 63% of non-life direct premiums in 2019, decreased significantly to 54% as of September 2021. With the combined impact of the economic fallout from the COVID-19 pandemic during the first half of 2020, and the implementation of the...
AM Best Maintains Stable Outlook on Global Reinsurance Industry
“Unfavorable loss cost trends and high catastrophe activity continue to dampen returns on capital, which should keep the industry focused on the need to push for more rate increases,” said Greg Dickerson, associate director AM Best has maintained its market segment...
Argenta to withdraw from Lloyd’s China Platform
Andrew Annandale, Managing Director of ASML and Chief Executive Officer of ASML’s parent, Argenta Holdings Limited, commented:“The decision to withdraw our support from the Lloyd’s China platform has not been taken lightly and will enable us to simplify operations and...
Property Cat Reinsurance Rates to Rise Double-Digit at 2022 Renewals:Fitch
``We expect 2022 to be the fifth successive year of price rises, although we expect growth to be slower than in 2021 as non-loss-affected lines of business are likely to show a broadly stable price development,''said the rating agency.. Attractive rates and healthy...