In practice, the Liberia’s move may well prove symbolic. There are...
Category:
Reinsurance
Latest
More than 800 coal plants worldwide could be profitably decommissioned, research group says
Around 15.5 billion metric tons of carbon dioxide are generated...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late...
Swiss Re says helped insure Boeing, Ethiopian Airlines
“We can confirm that we are part of the insurance panel that covers Boeing’s airline manufacturer liability policy and we also are a co-insurer of Ethiopian Airlines,” Swiss Re said in an emailed statement. It said it had not played a leading role in the cover but declined comment on contractual details.
Insurers waive terrorism exclusions for Christchurch shooting victims
“While our policies exclude acts of terrorism, AA Insurance will be providing cover for claims made following the attack in Christchurch on Friday,”
Tougher Asian markets need different approach to risk and insurance driven by data analytics
“Too often, we hear clients struggle to quantify the financial impact and likelihood of risks to their business. Today, companies need to know, with certainty, that the insurance strategy they have in place is exactly right for their business. With new and emerging risks on the accelerated rise, they need to adopt a data-driven and actuarial approach to support all aspects of their insurance procurement process to yield better business outcomes,” adds Scott.
Insurers face large claims after second Boeing 737 MAX crash
Willis Towers Watson was the insurance broker for Ethiopian Airlines, while Chubb was the lead insurer, a Willis spokeswoman said on Monday. A Chubb spokesman declined to comment.Britain’s Global Aerospace was the lead insurer for Boeing and also for Lion Air, which operated the plane that crashed in October, said Global Aerospace Chief Executive Nick Brown.’Insurers typically form a consortium to share the risks of large claims, with the lead insurer taking a larger proportion of the risk. The insured value of the plane itself was likely around $50 million (£38 million), according to industry sources.
China Re launches renewable energy consortium for offshore windfarm risks
The consortium covers construction all risks (CAR), erection all risks (EAR) and third-party liability (TPL) and can provide capacity of up to USD 225M per risk.
Hannover Re announces the launch of insurtech initiative
The online platform provides access to a diverse range of solutions spanning the entire value chain, propelling the insurance industry forward by making it easier to find and implement new technology.
157 feared dead after Nairobi-bound Ethiopian airline crashes
The airline said: “Search and rescue operations are in progress and we have no confirmed information about survivors or any possible casualties.”Aviation websites identified the aircraft as a new 737 MAX 8, the same plane that crashed in Indonesia in October, killing 189
Pool Re’s new initiative to make businesses more resilient to terrorism in UK
Commenting on the collaboration, Minister of State for Security, Ben Wallace MP, said: “This project is one of the first of its kind – a collaboration between the police, the insurance sector, and the Government that will help to keep the country safe and secure. If we are to properly respond to the terrorist threat, we need to ensure everyone plays their part. That is why partnerships like this one are so vital and I thank Pool Re for their leadership.”
Lloyd’s appoints Hayley Spink as head of global operations
The appointment reflects Hayley’s global operations experience as well as her immense contribution as Brexit Programme Director, where she has been instrumental in establishing Lloyd’s Brussels subsidiary to enable the Lloyd’s market continued access to the European Economic Area (EEA) post-Brexit.
Hannover Re profit jumps to EUR 1.06 billion in 2018 despite large losses
The combined ratio improved to 96.5% (99.8%) and was thus only marginally higher than the targeted level of 96% or better.
Property and casualty reinsurance was again fiercely competitive in the financial year just ended. Despite a high level of losses, both traditional reinsurers and alternative capital providers in the ILS market continued to make abundant capacities available. Prices and conditions in the property lines, in particular, consequently remained under pressure. Hannover Re was nevertheless able to act on profitable business opportunities in the various rounds of treaty renewals.