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1st June Renewals: Moderated risk-adjusted property-catastrophe reinsurance pricing, says Howden Re
Risk-adjusted property-catastrophe rate-on-line 5% lower on...
Lloyd’s and Bermuda Monetary Authority to foster innovation and education access
``This joint agreement will ensure we share the knowledge and...
Lloyd’s must seize opportunity to embrace digital transformation:John Neal
“Lloyd’s has always been a platform – a marketplace where brokers, underwriters and capital have come together to create and exchange value by exchanging risk, ultimately for the benefit of our customers. The building blocks are in place. Now we have the challenge of unlocking and evolving a 330-year-old platform.”
Peak Re develops a new cancer multi-protection solution for Vietnam
It is part of the company’s strategy to support the evolving needs of the emerging middle class and address the protection gaps in emerging Asia.Peak Re plans to offer more solutions that boost affordable and simple insurance products in Asia beyond Vietnam, Peak Re is also actively engaging in developing customised solutions for different protection needs in other Asian markets, including China, India, Thailand, the Philippines and Cambodia.
Ship insurers ‘already charging’ war risk premium around Fujairah post-sabotage attacks
Given the circumstances in the Persian Gulf, it would be expected that underwriters are reviewing voyages on a case-by-case basis and acting according to the risk presented, Neil Roberts, secretary for JWC in the Lloyd’s Market Association, told S&P Global Platts.
SCOR raises $ 250 mn of Cat Bond
The capital shield policy is a strategic axis for SCOR. The Group has regularly used capital market solutions for this purpose, having completed 16 transactions since 1999, including cat bonds, sidecars, mortality bonds and innovative contingent capital protections.
Airlines could seek $580 million from Boeing for Max 8 groundings
The China Air Transport Association said in a statement Friday that the groundings and delayed deliveries of the planes were causing “serious damage” to the companies’ businesses. It estimated their losses at 4 billion yuan ($580 million) should the planes remain grounded through the end of next month.
As many as 8 Hurricanes Forecast for ‘Near Normal’ 2019 Hurricane Season
The hurricane season will be closely watched because of its potential to take a heavy human toll as well as rattle oil and gas markets across the globe. Over the past two years, storms including Michael, Irma and Harvey led to scores of deaths and over $250 billion in damages. They have also sent U.S. gasoline prices surging, shifted global crude and fuel flows, disrupted production in the energy-rich Gulf Coast and threatened crops.
Lloyd’s of London plans to merge governance bodies -source
The plan to combine the bodies comes as Lloyd’s, which has 99 syndicate members comprising British and international insurers, is under pressure to cut costs and speed up automation after two years of steep losses.
GIC Re’s global premium rises to Rs 44,238 cr in 2018-19, profit falls on higher tax provisioning
“Going forward, we will be more focussing on the growth of bottomline rather than topline,” said Alice Vaidyan, CMD, GIC Re
Japan non-life insurers focus on profitability
Over the last few years, Japan’s major non-life players have embarked on global expansion at an accelerated pace, seeking risk diversification. With regard to a change in companies’ risk profiles, AM Best views adopting a holistic approach to capital and catastrophe risk management remains crucial for the major Japan non-life insurersin the event of unforeseen catastrophe losses or amid challenging post-event market conditions.
London marine insurers widen Middle East threat zone after ship attacks
The Joint War Committee, made up of syndicate members from the Lloyd’s Market Association (LMA) and representatives from the London insurance company market, normally meets every quarter to review areas it considers high risk for merchant vessels and prone to war, terrorism, piracy and related perils.