Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says:...
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Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones —...
Global D&O trends in 2025: Developed economies to be hit by double-digit insolvencies in 2024, says Allianz
Western Europe leads the global count with 195 cases, a reflection...
Verisk launches Life Risk Navigator Software Platform
“As the life insurance industry undergoes a digital transformation, the demand for modern analytics platforms has grown significantly,.Life Risk Navigator brings together a robust modeling suite and allows organizations to streamline their pricing, ERM, and portfolio optimization workflows into a single platform.”” said Maroun Mourad, president, global underwriting at Verisk. “
Munich Re’s Covid-19 reinsurance losses at €700m in Q2
The largest share of these losses is attributable to cover for major events,with a lower impact reported in life and health business as well as other lines of property-casualty insurance, including business interruption. At this time, Munich Re perceives considerable ongoing uncertainty with respect to the macroeconomic development and the financial impact of COVID-19, and does not expect that uncertainty will subside between now and early 2021
Swiss Re’s digital insurance platform iptiQ gets a new CEO
In his new role at iptiQ, Carlo Bewersdorf will be focused on driving Swiss Re’s ambition to protect more people and their families by making insurance more accessible and engaging. He will seek to further develop a business model based on forging strong partnerships to sell insurance via trusted brands. At the heart of this effort is the drive to dovetail Swiss Re’s expertise with the smart use of data and technology to create no-fuss, scalable digital insurance solutions.
China takes over companies linked to disappeared financier
Among the companies being taken over are Huaxia Life Insurance Co., Tianan Life Insurance Co., Tianan Property Insurance Co., New Times Trust Co., Yi’An Property Insurance Co., and New China Trust Co., the China Banking and Insurance Regulatory Commission said in a statement on its website Friday.
Investors and insurers of Russian pipeline projects at risk of US sanctions
U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and Turkey. Pompeo told a...
AM Best revises Swiss re’s credit rating outlook to negative
The negative outlook on the Long-Term ICR reflects pressure on Swiss Re’s operating performance assessment, following non-life underwriting losses in recent periods, partly driven by the casualty book of business.The group has implemented actions to improve the performance of certain sub-segments of its portfolio. However, these actions have had limited impact on results so far.
Insurers favor warehouse investments over offices as pandemic hastens real estate shifts
Pandemic lockdowns have spurred companies to re-examine their need for office space if employees continue working at home in the post-pandemic world, a trend that could drive down office occupancy rates and rents.
Swiss Re and PGGM enter into second private sidecar transaction
The transaction is a further milestone for Swiss Re’s Alternative Capital Partners team, which was formed in 2019 to manage Swiss Re’s third-party capital activities. Alternative Capital Partners enables Swiss Re to grow its natural catastrophe book and proactively manage its risk appetite by making use of a broad range of third-party capital and retrocession instruments.
Willis appoints Fabien Conderanne as Regional Head of Financial Solutions in Asia Pacific
Scott Burnett, Head of Asia and Head of Corporate Risk and Broking for Asia at WTW adds, “We now live in extraordinary times where the relevance of our solutions and services to our clients has never been more urgent. We invest the time and resources to understand each client’s business, as well as the economic and credit risks that arise from operating in a world where geopolitical threats and regulations are in constant flux. Fabien’s appointment reflects both a commitment to grow our talent and support our clients so that they can build resilience, wherever they operate in Asia.”
Six Harvey Weinstein accusers call $18.9 million New York settlement a ‘cruel hoax’
In a Manhattan federal court filing, the six women said accusers would receive just $11.2 million after deducting legal fees and costs, with typical awards of just $10,000 to $20,000, while shielding the defendants’ insurers from big payouts.
They also complained that the accord “absolved” Weinstein, his brother Bob Weinstein and the board of liability, while setting aside another $15.2 million to help cover their defense costs.