Balz Grollimund, Head of Catastrophe Perils at Swiss Re, said: "In...
Category:
Reinsurance
Latest
Lloyd’s financial strength rating upgraded by AM Best
Today’s upgrade from AM Best follows that of S&P Global at the...
Explainer: Why does Nepal suffer so many air crashes?
In a 2023 safety report, the Civil Aviation Authority of Nepal...
Alamelu Panel recommends reduction of tax rates from 40% to 25 % for Indian FRBs
On the fit and proper criteria of Key Managerial Personnel (KMP), the committee has recommended that FRBs , Lloyd’s India will appoint KMPs as per corporate governance guidelines when the book gross premium reaches a level of Rs 5000 crores for the first time.
RMS appoints Michael Steel as global head of business development
Steel said, “The insurance industry is at a key inflection point in terms of harnessing advances in data, analytics, and technology. RMS has always been the leader in catastrophe modeling and the significant investments it is making in technology solutions will assist the industry to navigate through this transformation. I am excited by the direction and potential of RMS, and in our ability to deliver, innovate, and grow.”
Hadi Riachi to replace Satish Raju as Swiss Re’s India CEO
“We believe that Asia will drive 50 per cent of Swiss Re’s growth in this decade and part of that growth lies in our ability to capture the opportunities in high-growth markets, which includes India. With Hadi on-board, we have a leader with a wealth of experience in the P&C business and a proven track-record in realising the potential and opportunities in a high growth market environment, which will be instrumental to our growth plans in India.,” said Victor Kuk, head of P&C solutions, Southeast Asia, India, Korea, Hong Kong and Taiwan.
Lloyd’s of London to shut market for a day on Friday – CEO Lloyd’s
The decision to shut the so-called “underwriting room”, which is used by nearly 50,000 employees in the Lloyd’s of London market, comes after the coronavirus epidemic was officially classed as a pandemic, with cases in Europe and the United States and government responses rising.
Lawsuits against businesses over Coronavirus have begun. More to come?
Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling to see if their insurance policies cover disruptions caused by the virus. Governments are reviewing their quarantine powers.
Parametric insurance could offer hotels relief from Coronavirus cancellations
The new hotel product is led by Tokyo Marine Kiln (TMK) and underwritten by Chaucer, Munich Re Syndicate, Beazley, Faraday and AXIS.
France’s Covea to acquier PartnerRe for $9 billion
Thierry Derez, Chairman and CEO of Covéa, said: “This acquisition project comes at a time when the insurance sector is undergoing fundamental transformation, with emergence of new risks and new lifestyles, and increasing new participants entering insurance markets. It perfectly fits our growth strategy, our ability to adapt, the necessary complementarity of expertises and the importance of risks mutualization on a global basis. It would consolidate the future of PartnerRe and our mutual Group, serving the interests of our members and clients, as well as of our employees and partners.”
IRDAI asks insurers to design covers to pay for Caronavirus treatment
UBS CEO Ermotti Sergio to succeed Walter Kielholz as Swiss Re Chairman
He started his professional career at Merrill Lynch in 1987, where he held various positions in the areas of equity derivatives and capital markets before he became Co-Head of Global Equity Markets and a member of the Executive Management Committee for Global Markets & Investment Banking in 2001. Sergio P. Ermotti, a Swiss citizen, is a Swiss-certified banking expert and a graduate of the Advanced Management Programme at the University of Oxford, United Kingdom.
Lloyd’s launches new cryptocurrency wallet insurance solution for Coincover
Matthew Greaves, Underwriter, Atrium, said:“There is a growing demand for insurance that can protect cryptocurrency as it becomes increasingly popular. It is a testament to Lloyd’s that the market has put together an innovative solution to mitigate these new risks and protect against theft – from physical as well as online vaults – thereby providing customers with piece of mind that their assets are safe.”