The findings reveal that the primary causes of crop damage were...
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Zurich to increase headcount by 40 % in India
Tulsi Naidu, chief executive officer for Asia Pacific There are...
India Inc’s Risk Index: Demonstrating Resilience
Cyber-attack or data breach is considered to be one of the most...
Munich Re appoints Linus Phoon CEO for Singapore & Southeast Asia
Linus will lead Munich Re’s reinsurance businesses in Singapore and Southeast Asia, providing clients with traditional reinsurance and complex risk solutions, as well as comprehensive consulting services.
Finally, IRDA cancels license of ITI Reinsurance
Meanwhile, Canadian based Indian born billionaire Prem Watsa, through his Indian general insurance company Digit Insurance, had tried to take over the company but was not allowed by the IRDAI do it as the company hadn’t done any business and any takeover of the company would have been treated as a trading of license which is not allowed under regulations
SCOR to implement an alternative natural catastrophe reinsurance scheme in France
Paris: SCOR notes the decision of the General Court of the European Union, which confirms the decision of September 26, 2016, by the European Commission concerning the guarantee granted by the French State to the CCR regarding natural catastrophe...
Hannover Re’s Apr 1 treaty renewals increased by 6.6 %
The reinsurer’s gross premium showed a significant growth by rising by 19.2 per cent at 31 March 2019 to EUR 6.4 billion (EUR 5.3 billion). Adjusted for exchange rate effects, growth would have reached 16.1%. The retention decreased to 90.4% (91.3%). Net premium earned climbed by 15.3% to EUR 4.6 billion (EUR 4.0 billion). At constant exchange rates growth of 12.7% would have been booked.
More than $1.1 billion raised through ILS in Q1 , market slows further
Another innovation was the first-ever issue of a £75 million bond dedicated to terrorism reinsurance. Weighted average last-12-month risk premium for non-US wind-exposed bonds jumped 2.2 points to 6.5% in Q1 2019, while for US wind-exposed instruments it rose 0.3 points to 6.1%. Seasonality has contributed to market heaviness, whilst loss-affected bonds continued to be marked lower.
Billionaire Warren Buffett gives new hint about his successor
Without answering directly, Buffett said Gregory Able, 57, and Ajit Jain, 67 — both promoted last year to the board of directors — would in the near future join him and long-time business partner Charlie Munger, 95, on the stage to answer shareholder questions.
IRDAI to unveil Risk Based Capital & Supervision soon:Khuntia
IFRS 17, he informed, has been postponed to 2022 globally. India has also postponed its introduction, but IRDAI needs the help and cooperation of insurers during the preparatory phase prior to its introduction.
Boeing’s legal woes over crashes mount with negligence suits by families
“If they deny theSave ir negligence, we are going to seek every single email, text message between them and the FAA,” Robert Clifford, attorney for Njoroge and Vaidya, told reporters in Chicago on Monday.
SCOR unveils steps protecting climate and promoting energy transition
SCOR is proactively supporting its clients in the implementation of their climate change strategies. This support is based on detailed underwriting grids, which evaluate both qualitative and quantitative risk factors and encourages insureds to adopt proper conduct in this matter.
Stephen Catlin launches a specialty entity for complex risks,invests $1.8bn capital
Stephen Catlin said: “The launch of Convex distils vast industry experience and client focus to create the insurance company of the future. We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes and we are well equipped to prosper in a challenging market. We are thrilled to have the support of Onex and our co-investors and believe they will be valuable partners to us as we build our business.