India's exports in April recorded positive growth in the face of...
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Class Action Suits: 2 separate cases to provide level a playing field for India’s minority investors
Following the insertion in 2016 of a class-action provision in the...
Swiss Re withdraws from iptiQ business, appoints Ivan Gonzalez as CEO Corporate Solutions
Moses Ojeisekhoba, CEO Global Clients and Solutions, to pursue...
Willis Towers Watson launches benchmarking service to help insurers improve claims handling & profitability
Tom Helm, Head of Claims Consulting at Willis Towers Watson, said: “Data and analytics have transformed many areas of the insurance industry, but it has been slower to adapt than other financial services, such as banking and retail. This is changing as the claims process in the insurance market finds itself increasingly under the spotlight, with more insurers recognising claims as an investment opportunity to help gain competitive advantage, market differentiation and increased customer loyalty.”
GIC Re’s gross premium goes up by 11 % to Rs 27,117 crore, net profit falls by 28 % in H1 2018-19
Though, the agriculture portfolio, which had contributed massively to the GIC Re’s premium kitty in recent years, at Rs 11,296.62 crore had remained flat, the reinsurer, with Rs 5400 crore of fire portfolio and Rs 4439 of motor portfolio, has grown both the portfolios by 25 per cent each in H1 2018-19.
Cyber-attacks, volatile weather top risks for India Inc:Marsh-RIMS study
In fact, some 88 per cent of the survey respondents – representatives of C-suites, executives, and risk professionals across 19 industries – identified cyber-attacks as the top-most risk. This was followed by data fraud or theft (85%), volatile weather (84%), severe energy price shock (81%) and major financial failure (81%) among the other top risks for India Inc.
Italy’s Generali to stop insuring new coal plants
Generali’s action, which comes ahead of a United Nations climate change conference in Poland in December, is the latest by a big insurance company that targets the coal industry as part of efforts move towards a lower carbon economy.In late 2017, French insurer AXA said it planned to disinvest further from the coal industry. Others that have taken steps include Scor, Swiss Re and Zurich Insurance.
Standard Club Asia and Ping An P&C Insurance collaborate to underwrite P&I risks in China
Under the terms of the agreement, Standard Asia and Ping An P&C will jointly offer Protection and Indemnity (P&I) cover to China’s rapidly-growing shipowning sector, with a focus on owners undertaking ocean-going voyages.
RenaissanceRe to acquire Tokio Millennium Re in $1.5 billion deal
Kevin O’Donnell, president and CEO of RenaissanceRe, said the deal will increase his company’s scale, broaden its reach and provide a deeper customer base. O’Donnell thanked State Farm for agreeing to broaden its relationship with RenaissanceRe.
Tokio Marine Holdings President and Group CEO Tsuyoshi Nagano said selling TMR will allow Tokio Marine Group to “focus on its primary insurance businesses globally, whilst strengthening its relationship” with RenaissanceRe.
Hurricane Michael to hit US economy by $15bn: Aon
Cyclone Titli in India; resultant storm surge, high winds and inland flooding killed at least 85 people and prompted economic damage above USD920 million
Munich Re returns to profit in Q3, affirms 2018 guidance
FRANKFURT: German reinsurer Munich Re returned to profit in the third quarter and affirmed its guidance for 2018, recovering from a spate of natural catastrophes a year ago. Net profit came to 483 million euros ($553 million), it said on Wednesday,...
Crashed Lion Air Boeing Jet Previously Had Problems with Altitude, Speed Sensors
Erroneous sensors could be an explanation for the flight track data, said John Cox, president of Safety Operating Systems and a former airline pilot. But Cox and others cautioned that it’s too soon to say what happened on the Lion Air flight and some of the flight data — such as speeds that weren’t extreme and none of the highly abrupt maneuvers that preceded the Air France jet’s loss of control — may suggest some other cause
A380 to Tata Nano: Experts fail to read tea leaves on future of transport
Almost all transport ultimately comes down to transforming potential energy into kinetic energy, so the first thing you should think about when prognosticating the future of transport is how new developments will affect energy. A couple of points flow from that: Firstly, less energy-efficient modes are only likely to be viable if they offer substantial advantages elsewhere, especially in a world increasingly afflicted by climate change. Secondly, the density of energy storage is extremely important: Major breakthroughs in rechargeable batteries will be needed before heavy trucks, aircraft and ships can replace liquid fuels.