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...
Indian general insurance industry plunges into losses of Rs 1402 crore in 2019-20, sees higher FDI inflow
The total underwriting losses of the industry have surged by 4.4 per cent year on year(y-o-y) to Rs 22,859 crore in 2019-20. .
Shriram General Insurance, at 91 per cent and SBI General Insurance(93.5 percent) have earned the distinction of having very low combined ratio in the industry and are a very few companies which have seen underwriting profits in FY 2020-21.
Insurer Inigo raises $800 million from investors including QIA, CDPQ
In a statement, Inigo said that current conditions are ideal to launch a new insurance business, at a time when demand across a number of classes of insurance and reinsurance is high.
Inigo has chosen London as its principal base since it regards the overall insurance ecosystem offered by Lloyd’s as exceptionally attractive and believes it will best support the growth and development of the new syndicate.
UK FM says he hopes for a Brexit deal but not at any price
“If we don’t get a deal, why is that? It is because they are refusing to compromise on what are some completely reasonable and very transparent principles that we’ve laid out from the beginning. We are not asking for … super-special treatment.”
Hamilton sets up a new Bermuda special purpose insurer ‘Ada Re’
“Ada Re will give investors immediate access to the improving pricing, terms and conditions, and expected returns in the retro market. The establishment of Ada Re is indicative of our ability to quickly capitalize on dynamic reinsurance market conditions for the benefit of third-party capital investors,” Tony Ursano, group CFO and head of Strategic Partnerships at Hamilton.
Lloyd’s first Digital Syndicate Ki goes live, announces list of broker trading partners
The creation of Ki was first announced in May 2020. Ki aims to significantly reduce the amount of time taken for brokers to place their follow capacity.
Ki’s algorithm, developed with support from University College London, will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform, built by Google Cloud and accessed directly by brokers.
Aon develops $70mn in alternative capital capacity to transfer systemic cyber risk
The cover allows for limits of up to USD 70 million and will protect against increasing cyber loss aggregations on re/insurers’ balance sheets. The product is structured to protect the cedent from the effects of catastrophic cyber market losses stemming from events such as self-propagating malware or wiperware, distributed denial of service, a significant cloud outage or certificate revocation.
Aon Launches Asia Pacific Capital Advisory Unit to support Re/insurers
“In the current environment, many Asia Pacific re/insurers are experiencing low growth, low underwriting margins and low investment income, while facing higher capital requirements due to regulatory and rating agency obligations,” said Rupert Moore, CEO of Japan for Reinsurance Solutions,, AON
Santam loses virus-linked test case for S. African insurers
The court agreed with the approach of the UK Financial Conduct Authority in settling business-interruption claims as a result of COVID-19 restrictions and ordered Santam to pay Ma-Afrika Hotels and Stellenbosch Kitchen for losses for an 18-month period, according to the judgment on Tuesday.
Tysers ramps up its Asia and Australasia Marine and Aviation Team
As a senior client manager for Swiss Re Asia in Singapore, Jane covered Southeast Asia, India and Dragons
Roberts to lead Global Renewable Energy biz of Marsh JLT SpecialtyLondon:
“There is renewed political will as we approach the end of 2020 to move towards greater decarbonization and more sustainable energy sources.As traditional energy companies continue to decarbonize their footprints – and market challengers seek to redefine the energy landscape – Marsh JLT Specialty’s Global Renewable Energy team will play a key role in supporting our clients and communities as they transition towards more sustainable and carbon-neutral futures,”said Roberts