``Despite having nine catastrophic events, which have added Rs...
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Bima Vitarak Manthan: IBAI wants Bima Vahaks to join brokers as point of sales person
Debasish Panda,chairman, IRDAI At the recently concluded Bima...
Remal weakens into cyclonic storm, expected to move northeastwards: IMD
Scenes of widespread devastation were evident across West Bengal's...
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.
Buffett’s Berkshire doubles profit, repurchases $900 million stock in third quarter
Insurance provides a stream of cash that Berkshire can invest around the world. Float, or insurance premiums collected before claims are paid and which help fund Berkshire’s growth, ended September at $118 billion. The company has $103.6 billion in cash, short-term Treasuries and other similar investments.
Indian Oil says country might get Iran sanctions waiver
“I can’t say there will be a waiver or no waiver, but definitely we are hopeful that we will have some sort of clearance to continue with Iran,” said Sanjiv Singh, Indian Oil chairman.
Insurance crunch for upcoming Soyuz rocket launches ironed out, Roscosmos CEO says
The proposal was to insure the launch for 2.1 bln rubles ($31.9 mln), while the initial (maximum) contract price was set at 178.1 mln rubles ($2.7 mln). Having negotiated the issue with Western reinsurers, Ingosstrakh and Sogaz offered to insure the launch at a 9.6% rate, which is equivalent to an insurance payment of 201.1 mln rubles ($3 mln).
Indonesia’s Lion Air plane crashes near Jakarta, 188 on board feared dead
The crash is the worst airline disaster in Indonesia since an AirAsia flight plunged into the sea in December 2014, killing all 162 on board.
ILS as an established asset class continues its momentum:Willis Survey
James Kent, Global Chief Executive Officer, Willis Re commented: “The industry has widely reported the growth in the ILS market and this comprehensive survey further supports the development of ILS as an asset class despite the challenges of the catastrophe events in 2017
Shareholders of Singapore Reinsurer ACR Capital Eyeing Sale: Sources
The company’s owners, which include Temasek Holdings Pte and Khazanah Nasional Bhd., have asked banks to pitch for a role on a potential transaction, according to the people. A deal could value ACR at about $800 million, the people said, asking not to be identified because the information is private.