The fires sweeping across Los Angeles are now on track to cause...
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McGill offers property war reinsurance for Ukraine
McGill said it had collaborated with local Ukrainian insurer ARX to...
Los Angeles wildfire economic loss estimates top $50 bln
J.P. Morgan believes that insured losses originating from the...
Willis Appoints Former Lloyd’s CEO Beale and 3 others as new directors
The announcement comes months after a pushback from U.S. regulators forced Willis and Aon to call off their $30 billion merger that would have created the world’s largest insurance broker, topping current leader Marsh & McLennan Companies Inc . London: Willis...
Sitharaman announces clearance to 3 key projects worth Rs 500 crore for IFSCA
Union Finance Minister Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman underlined that the central government's commitment to make GIFT City a world-class fintech hub as stated in the Union Budget 2021-22 GIFT-IFSC is especially targeted towards companies...
Insurers run from ransomware cover as losses mounT
"Insurers are changing their appetites, limits, coverage and pricing," Caspar Stops, head of cyber at insurance firm Optio, said. "Limits have halved – where people were offering 10 million pounds ($13.50 million), nearly everyone has reduced to five." Lloyd's of...
Swiss Re PARTNERS Baidu for risk expertise and insurance innovation in autonomous driving
Andrea Keller, Head of Automotive & Mobility Solutions at Swiss Re, said: “Together with our partner Baidu, we analyse how automated cars perceive their surroundings and how they process that information and respond to it. Our goal is to understand how such...
Zurich Insurance stops underwriting new greenfield oil exploration projects
The pledges come after banks, insurers and investors with $130 trillion at their disposal vowed at the U.N.’s COP26 climate conference in Scotland this month to put combating climate change at the center of their work. Zurich Insurance Group will no longer underwrite...
Swiss Re remains positive on global insurance premiums and profitability,expects higher inflation
Jerome Haegeli, group chief economist, Swiss Re Market conditions suggest that positive pricing momentum will continue across all lines and regions. Inflation-driven higher claims development in all lines of business, continued social inflation in the US and...
AXA XL Partners with Cambridge Centre for Risk Studies to Launch Online Disaster Recovery Hub
The Report highlights that the global annual average loss from natural disasters has risen from $27 billion during 1970-80 to nearly $200 billion during 2010-2019, driven mostly by global economic development and the rising value of assets in hazardous areas,...
Jhunjhunwala’s Akasa Air orders 72 Boeing 737 MAX jets
The order by billionaire investor Rakesh Jhunjhunwala-backed airline comes months after India's air safety regulator allowed the country's airlines to fly the MAX jet, ending its nearly two and a half years of regulatory grounding after two fatal crashes in five...
Willis Towers Watson appoints Aon’s Hugo Wegbrans as Global Head of Broking and Broking Strategy
Hugo joins WTW from Aon, where he has most recently been Leader, Global Strategies, for its Commercial Risk Solutions business. Prior to that, he served as Global Chief Broking Officer. He has spent the majority of his 35-year career with Aon. LONDON: Willis Towers...
Big four global reinsurers improve earnings despite high nat cat losses:Fitch
Sharply lower non-life claims related to the coronavirus pandemic more than offset high, and above-budget, natural catastrophe losses, Fitch Ratings says. The pandemic had a strong impact on the life and health reinsurance activities of the major reinsurers, which had...