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BMS launches new global healthcare division with Rob Wendin to lead
BMS, the independent specialist insurance and reinsurance broker,...
DUAL launches new capability in title insurance in Australia & New Zealand
The primary focus will be (i) real estate transactions involving...
SoftBank’s talks for minority investment in Swiss Re fails
Swiss Re will further explore business ideas between Swiss Re’s operative entities and the portfolio companies of SoftBank.
GIC Re’s record prm at Rs 41,800 cr,logs a net profit of Rs 3,234 cr in 2017-18, declares 1:1 bonus
“We are the leader inthe Indian reinsurance market and has 60 per cent of the market share despite the presence of almost all global players in the market. We are growing at 25 per cent while the Indian industry is growing at 17 per cent. I am bullish about the growth and profitability prospects for the GIC Re in coming years. said Alice Vaidyan,, CMD, GIC Re
More than 60% of crops in India remain uninsured,MP, Maha,Odisha,Bihar & UP cause 2/3rd of PMFBY losses: Lloyd’s report
Droughts cause most the widespread damage to crops, particularly as less than 50 per cent of crops in India are irrigated.Property business contributes to around 9 pr cent of Indian non-life premiums (USD 1.9 bn), compared to 16% for crop,said the report.
Swiss Re CFO says SoftBank talks still on but no clear sign of deal
Net profit was $457 million, down 30 percent from $656 million a year earlier. Gross written premiums were up 13.1 percent in the quarter, at $11.5 billion, better than the $10.6 billion expected by analysts and above $10.2 billion a year ago.
SCOR’s net income at EUR 166 million, up 18.6 % in Q1 2018
At the April 1, 2018, renewals, SCOR Global P&C grew gross written premiums by 13.5% at constant exchange rates to EUR 505 million, while improving risk adjusted pricing by 2.9% and maintaining stable terms and conditions. Growth was achieved in both Treaty (especially in India and the U.S.) and in Specialty Treaties (including in Agriculture, Credit and Surety and U.S. Cat).
Cat Bond issuance reaches record in Jan-Mar Qtr
The first quarter catastrophe bond issuance figure has set a positive tone for the remainder of 2018. Following the potential losses that could have been incurred from the series of 2017 natural disaster events, investors in this sector could easily have taken a ‘wait-and-see’ approach,Paul Schultz, Chief Executive Officer of Aon Securities
Reinsurer capacity remains stable despite 2017 catastrophe loss activity: Willis Re
“The pressure on traditional reinsurers from alternative capital suppliers is stronger than ever, as many participants in this market cleared their first true major test. This increase in alternative capital, as well as the global reinsurance market having more capital to deploy, is continuing to dampen price increases in the mid-year renewals”
Global reinsurer capital up 2 pc to USD605 billion at December 31,2017
Traditional capital rose by USD2 billion to USD516 billion, while alternative capital rose by USD8 billion to USD89 billion, according to Aon Benfield’s April 2018 Reinsurance Market Outlook.
Safety violations in Indian skies down in 2017
"There are 352 number of violations of safety norms by airlines in 2016 whereas 269 numbers of violations were reported in 2017. Therefore, the number of safety violations has reduced in 2017 as compared to 2016,"Minister of State for Civil Aviation Jayant Sinha told...
SoftBank‘s stakes in Swiss Re expected not to exceed 10 pc
Swiss Re also is convinced that the long-term trends for the industry remain positive and highly attractive. Risk pools are expected to continue to grow, fuelled by demographic trends and a strengthening of the world economies’ combined GDP, with an overall insurance market expected growth of 5% 1 . High growth markets, in particular, continue to offer much potential, with projected growth rates of 8 per cent .