Sanctions against Ingosstrakh are notable because it is major...
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Multibillion-euro court battle over stranded Russian jets begins in Dublin
Lessors are suing dozens of insurers around the world over losses...
Singapore Airlines offers compensation for flight hit by turbulence
“Passengers medically assessed as having sustained serious...
RFIB granted Hong Kong licence
Stephen Warwick, who joined the business in February of this year, has been registered as the Chief Executive of RFIB Hong Kong Limited and continues in his role of CEO Reinsurance, Asia Pacific for the Group.
Willis Research Network partnership to focus on natural air traffic hazards
Alex Martí, CEO, Mitiga Solutions added: “In a short period of time, Mitiga Solutions has been able to disrupt the aviation industry by providing real-time and predictive solutions to mitigate the impact of atmospheric hazards to different aviation stakeholders
Lloyd’s returns to profit in 1st Half after 2 full years of losses
The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds ($2.8 billion) in the first six months of 2019, the company said in a statement on Wednesday.
Climate change tops list of world’s ‘extreme risks’
Tim Hodgson, Head of the Thinking Ahead Group, said: “Our extreme risks ranking has seen the emergence of a general trend with financial risks falling down the rankings and non-financial extreme risks growing in significance. Global temperature change becomes the highest ranked risk due to our assessment of higher likelihood coupled with significant impact – in the extreme this would mean mass extinction.
Analysts see 2020 reinsurance price hikes due to catastrophes
However, as Hurricane Dorian ravages the Bahamas and bears down on the United States, Fitch, Moody’s and S&P Global said some rates could jump by much more than that
Total reinsurance capital at $559 bn in H1 2019, up 8% driven by strong investment markets: Willis Re
The largest component of this figure is the capital of the 36 reinsurance companies tracked in the Willis Reinsurance Index, which was up 11 per cent to USD 440 billion, principally due to falling bond yields and rising equity markets. The strong investment appreciation was a reversal of the trend noted in the year-end 2018 Reinsurance Market Report. Fresh capital backing the Convex start-up also contributed to the H1 2019 capital growth.
Swiss Re and Capsicum Re launch a holistic cyber reinsurance solution
Anthony Cordonnier, Head Cyber Product Management at Swiss Re, said:”Decrypt gives insurance companies a unique understanding of their portfolios’ affirmative and silent exposures, and offers protection against the aggregation of cyber losses across different lines of business.”
Global reinsurance market to see consolidation, product & service innovation:S&P
S&P Global Ratings believes that these factors will continue to push the sector to evolve, forcing market consolidation, product and service innovation, expansion of product offerings, and reimagining of the re/insurance value chain. Indeed the market may look different, but it could be a long time before the competitive landscape changes.
ArgoGlobal Syndicate 1200 to exit Asia
All existing policies remain valid and the company will manage claims handling through its London operation.
Hurricane Dorian slams Bahamas, Florida,expected industry losses range between $11.3bn to $37.2bn
Industry loss estimates are currently sitting in a range from $10 billion to as much as $25 billion (perhaps even $30 billion according to some new runs we’ve seen), which aligns with these analogue storms RMS has highlighted