Christoph Nabholz, Chief Research & Sustainability Officer at...
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Shipping: Losses hit all-time low despite increasing risks for the sector: Allianz Report
The number of shipping incidents reported globally declined...
New India doubles its net profit to Rs 354 cr in Q4FY24
Titus Francis, executive director, NIA "NIA has delivered excellent...
Hannover Re net income at EUR 1.05 bn, logs a gross premium of EUR 19 bn in 2018
On the whole, prices as at 1 January 2019 were commensurate with the risk or slightly improved. Hannover Re maintains its emphasis on a selective underwriting policy under which minimum margin requirements take precedence over premium growth.
Power & renewable energy companies facing considerable disruption:Willis Report
George Nassaouati, Head of Natural Resources, Asia at Willis Towers Watson, commented: “It is incumbent on the insurance industry to embrace the risks presented by these new developments and provide the appropriate risk advisory and risk transfer / retention solution. It is essential that today’s power and renewable organisations prepare themselves for the turbulence that disruptive change inevitably brings.”
ILS growth to $93bn in 2018 bodes well for a continued healthy market:Willis Re
In the face of multiple smaller catastrophic events in 2018 and a meaningful series of catastrophes in 2017, non-life cat bond issuance remained strong. About $9.2 billion of new capital was delivered, marking the second most active calendar year ever. Of $535 million in bonds issued during Q4, $125 million provides protection from California wildfire liability, $200 million grants peak multiperil protection, and $210 million covers U.S. earthquake (workers’ compensation).
“We are more focused on improving the pricing and the other terms and conditions” Alice Vaidyan, CMD, GIC Re
“When I began my term as the CMD of GIC Re, I had two goals for us- to be a Top 10 Global Reinsurer and to deliver consistent underwriting profit. And I am proud to say that GIC Re has been ranked as the 10th largest Reinsurer in the latest S&P rankings. I realize that it is not enough to be a `Top 10 Reinsurer’ only on the metric of size but to deliver value to our clients, shareholders and business partners.’’
PIMCO launches new Insurance-Linked Securities business in partnership with Allianz
PIMCO will work in partnership with its parent, Allianz, to source global catastrophe risk in the form of collateralized reinsurance and other structured investments, while maintaining independent underwriting and portfolio construction procedures. This differentiated approach will also give PIMCO the flexibility to source risk from the open market in an effort to deliver attractive risk-adjusted returns for clients.
Swiss Re makes digital side-bet as premiums languish
“It means the whole value chain is under significant pressure…Costs have become much more important over the last years and for the foreseeable future, so there will be continual pressure on costs, and not just for Swiss Re.”
Music team joins Miller to grow music and entertainment offering
“We are really pleased that Martin, Holly, Rose and Pam are now on board. Bringing a team of this calibre to Miller can only be of great benefit to our clients. Their knowledge of the music industry and insurance market will enable us to hit all the right notes with our offering to parties in the music and entertainment sector,”
Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report
Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record. This means the protection gap, which is the portion of economic losses not covered by insurance, was 60 percent and at its lowest level since 2005.
AGCS opens reinsurance branch in India, targets EUR50 million premium over next 5 yrs
AGCS India Branch will initially offer facultative, proportional, and non-proportional reinsurance solutions on the following lines of business: Property, Liability, Marine, Financial Lines, Construction & Engineering, and Energy. In particular, AGCS sees opportunities in large scale construction projects under the USD 106 billion Bharatmala infrastructure development plan, as well as strong contributions from the automotive, electronics and high-tech communication industries, all of which complement AGCS’s areas of specialist expertise.
US Regulators disagree over giving Fintechs Federal Charter to skirt State Rules
Companies such as PayPal and LendingClub Corp. have attracted millions of customers by offering greater convenience or better prices than traditional banks. The OCC and the FDIC say such firms can broaden access to financial services because their low-cost models allow them to reach poorly served areas and offer small loans that are uneconomical for bigger banks.