The Panama-flagged "Ultra Galaxy" ran aground close to Doring Bay,...
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CMA CGM says its ship lost 44 containers in tough weather
“No injury to the crew has been reported, no pollution, no strong...
US insurers may take a hit of about $2.7 billion from damage caused by Hurricane Beryl
Triggered a record $44 million payout to the nation of Grenada from...
IRDAI forms panel to review existing reinsurance norms
The committee will be headed byTR Alamelu, member, nonlife, IRDAI and would suggest amendments to reinsurance, investment, foreign reinsurance branches(FRBs) and Lloyd’s India regulations in the next two months.
Why strong monsoon rains are not necessarily good news for Indian farmers
While crops in the ground have been damaged by the monsoon, the rains have replenished reservoirs and ground water reserves, which augurs well for India’s rural economy in 2020.
Munich Re invests $ 250m more in Next Insurance
This investment emphasises Munich Re’s commitment to be the leading provider of digital insurance solutions. It also helps Munich Re expand its footprint in the promising insurance market for small and medium-sized commercial customers in the United States. We are confident that building on our proven collaboration will benefit both Munich Re and Next Insurance,”Joachim Wenning, chairman, Munich Re
Axis Capital drops bid to cover Adani’s Australian coal mine project
“The Adani Group’s giant Carmichael coal mine is incompatible with international climate targets and AXIS is the 15th insurer and 58th financial institution to rule out support for this project,” said Peter Bosshard, coordinator of the Unfriend Coal campaign.
Lloyd’s of London to go electronic to compete with low-cost rivals
Simplifying and automating its processes could cut the cost of doing business at Lloyd’s to 25-30% of premium revenue, compared with a current 40%
“The FAIR Nat CAT pool has gained the approval to operate in India’’
FAIR pools are performing satisfactorily, overall, the revenue of the pools and syndicate is growing steadily with expectations to have reached close to $120m in the past year, and each year we have new members sharing the units of the pools’ ownership.
Boeing vows new safety panel, design changes in response to 737 Max crashes
Boeing’s reputation has been badly tarnished after its marquee 737 Max jets crashed twice within five months, prompting global regulators in March to ban flights.
Singapore minister to deliver keynote address at SIRC
The SIRC Deep Dialogue will provide multifaceted perspectives on the future for the (re)insurance sector – from a seasoned industry insider and a sophisticated institutional investor in insurance and InsurTech – and will provide clues on how the (re)insurance sector will transform in a highly disrupted future.
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