German insurer Allianz is insurance partner for the Games. Other...
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Singapore Reinsurers’ Association announces new executive committee for 2024-2025,unveils its new logo
The new members of the SRA are-Cindy Foo from Berkley Insurance...
Houthis intensify attacks on merchant ships, send drone boats packed with explosives into the Red Sea
Insurance industry sources said that additional war risk premiums,...
American Financial Group announces exit from Lloyd’s of London market
The exit from this business will allow AFG to reallocate capital to its other insurance businesses and opportunities that have the potential to earn targeted returns on investment.
Peak Re successfully places $ 77mn Lion Rock Re II Sidecar
the confidence shown in Lion Rock Re II really shows that Hong Kong can become a hub for ILS investors. Lion Rock Re II will allow us to continue our drive towards modernising reinsurance and bringing more communities under the umbrella of protection that insurance and reinsurance provides,” said Franz Josef Hahn, Chief Executive Officer of Peak Re.
British regulator warns insurance industry to stamp out bad behavior – or else
“A senior manager’s failure to take reasonable steps to address non-financial misconduct could lead us to determine that they are not fit and proper,” Jonathan Davidson, the Financial Conduct Authority’s Executive Director of Supervision, Retail and Authorisations said in a letter on Monday
Markel appoints Anirudh Singh as chief underwriting officer in India
Mumbai: Markel International, the specialist insurer, has appointed Anirudh Singh as India chief underwriting officer effective from December 24, 2019, highlighting Markel’s commitment to growing its presence in Asia. Anirudh will work closely with...
Ukrainian Boeing 737 with 180 aboard crashes in Iran after take-off
Passengers and crew on board the Ukrainian Boeing 737 plane that crashed shortly after take-off from Tehran on Wednesday were killed, Ukrainian President Volodymyr Zelensky said.”According to preliminary data, all passengers and crew members are dead,” he wrote on Facebook of the Ukraine International Airlines plane, which was bound for Kiev.
Capsicum Re launches aviation reinsurance team
Matt FitzGerald, Managing Partner of the London Property and Specialty division, said: “2019 was a challenging year for the aviation market having suffered from years of declining rates and notable loss activity.However, there were also a number of positive developments: our joint venture partner Gallagher acquired JLT’s global aerospace division, there were a number of new entrants into this class as well as exits and there is an upwards pricing momentum in the aviation market. We are entering this market as we see an opportunity to bring our client focused, holistic entrepreneurial approach to this sector.”
Guy Carpenter appoints Jeff Saper as CEO of Pacific Region
In his new role, Mr. Saper will be responsible for overseeing the company’s Treaty and Facultative activities in the Pacific region and will focus on further developing its growth strategy and strengthening its capabilities. Based in Sydney, Mr. Saper will report to Tony Gallagher, Asia Pacific CEO.
Pool Re makes terrorism cover more accessible to U.K. businesses
“Pool Re recognizes that different buyers have different profiles, and we need to continuously adapt to their needs,” said Steve Coates, Pool Re CUO. “Widening the definition of SME – who receive business interruption cover at no cost when they buy a physical damage policy – means that we can offer more affordable terrorism cover and as a result, better accessibility to a wider range of companies.”
January 1, 2020 reinsurance renewals reflect asymmetrical market:Guy Carpenter
David Priebe, Chairman of Guy Carpenter, added: “The reinsurance market enters 2020 in a solid position with initial analysis of dedicated reinsurance capital up slightly as compared to a year ago, bolstered by mid-single digit growth in rated capital in 2019. Accounting for the impact of trapped capital, total available capital at January 1 is close to flat. While reinsurers will continue to deploy capacity cautiously, with cedents’ performance and loss experiences scrutinized closely, the sector remains well capitalized overall.”
Major commercial plane crash deaths worldwide fell by more than 50% in 2019: group
To70 said the aviation industry spent significant effort in 2019 “focusing on so-called ‘future threats’ such as drones.” But the MAX crashes “are a reminder that we need to retain our focus on the basics that make civil aviation so safe: well-designed and well-built aircraft flown by fully informed and well-trained crews.”