The money from African Risk Capacity is expected to benefit 509,000...
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Insurers fret over militant attacks, AI hacks at Paris Olympics
German insurer Allianz is insurance partner for the Games. Other...
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...
More favorable pricing permeates global reinsurance industry, but is it sustainable
Third-party capital continues to proliferate as investor interest has increased alongside more varied reinsurance structures, and has become more closely aligned with traditional reinsurance capital. Despite the capital markets’ increased influence, dedicated reinsurance capacity essentially remained flat in 2018, at $436 billion, with a single-digit percentage increase in convergence capital to $95 billion from $87 billion in 2017.
Silent-cyber claims expectations decline across insurance lines and industry groups:Willis Re
Silent cyber risk refers to cyber losses which affect insurance policies that have not been specifically designed to respond to cyber incidents.
Philippines Insurance Commissioner Dennis B. Funa elected as Asian Re chairman
Besides the Philippines, the Asian Re has nine other member-states from the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), namely: Afghanistan, Bangladesh, Bhutan, China, India, Iran, South Korea, Sri Lanka and Thailand.
D Srivastava to head GIC Re, M Poddar selected as AIC CMD
Similarly, the governmemt has filled up two posts of managing directors at Life Insurance Corporation by appointing Mukesh Gupta, executive director, LIC and Raj Kumar, CEO, LIC Mututual Fund to these posts.
7 global trends making engineering & construction projects bigger & costlier than ever
Analysis by Allianz Global Corporate & Specialty (AGCS) of more than 13,000 engineering insurance claims over the last five years has identified seven major trends in engineering and construction projects, driving some of the largest losses ever, according to a new report by the insurer. The report also examines how new technologies, such as drones, satellites, lasers, and computer modeling, are increasingly being used to speed up claims and mitigate risks
Brexit minister signs order to end all EU laws in Britain
The European Communities Act 1972 is the vehicle that sees regulations flow into British law directly from the EU’s lawmaking bodies in Brussels
Catastrophes cause $44 bn global economic losses in H1 2019,only 42% of them were insured:Swiss Re
Only about 42% of the global economic losses were insured (compared with 52% in the first half of 2018) as several large-scale disaster events, such as cyclone Idai in southern Africa and cyclone Fani in India, occurred in areas with low insurance penetration.
GIC Re’s gross prm rises by 11 % to Rs 20,813, net profit falls by 85 % to Rs 108.60 crore in Q1FY 2019-20
The reduction in the profitability of the company is on account of provisioning of IL&FS and reduction in other income such as exchange gains, said GIC Re.
Reliance Industries’ Rs 3,70 trillion enhanced mega risk policy renewed in 2018-19, pays Rs 700 cr premiums
In a bid to support the RIL’s higher insurance cover, the GIC Re, the state owned listed reinsurer,had augmented its capacity for any single risk from Rs 2,500 crore to Rs 3,500 crore in 2018-19.
Hurricane activity could pick up as El Nino fades, say forecasters
The National Oceanic and Atmospheric Administration’s Climate Prediction Center said Thursday the Atlantic season looks more active than normal as peak hurricane season begins. Forecasters now expect 10 to 17 named storms, with five to nine hurricanes and two to four major ones.In May, they forecast a normal season, one or two fewer named storms and hurricanes.