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Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence: ABI
Under the Montreal Convention, Singapore Airlines is liable for...
Earnix highlights the potential of synthetic data in specialty insurance
The increasing demand for data in specialty insurance has prompted...
Significant obstacles remain in place for global reinsurnace trade: Global Reinsurance Forum
Requirements for reinsurers operating on a cross-border basis to collateralise or localise assets, preventing the global reinsurance market from transferring and spreading risk on the basis of a competitive level playing field across borders.
GIC Re emerges as the 10th largest Global Reinsurer
“We are indeed elated to be the top ten league of the world’s largest reinsurer.And it will be a constant endeavour at GIC Re to maintain our dominant market share in the Indian market while scaling up further on the global rankings,’’ said Alice Vaidyan, Chairman & Managing Director, GIC Re
Profitability gaps in major non-life insurance markets, Swiss Re’s Sigma
Economic developments alone will not close the profitability gap.Interest rates and non-life insurers’ underwriting results are interrelated in the long run. In the past, during periods of higher interest rates, stronger investment returns were offset by larger underwriting losses. By contrast, in the current cycle underwriting results have deteriorated without the benefit of compensating rising yields, as the slow post-crisis recovery has led to a prolonged backdrop of low interest rates.
Munich Re reclaims top spot in A.M. Best’s Top 50 Ranking of Global Reinsurers
Berkshire Hathaway Inc. moved up two spots from last year’s ranking to No. 3, pushing Hannover Rück SE and SCOR SE to the four and five spots, respectively.
French Reinsurer SCOR spurns $9.6B acquisition Offer from Insurer Covea
Covea, a French mutual insurer that already has an 8.2 percent stake in SCOR, said Tuesday that it offered to buy the remaining stock for 21 percent more than the company’s previous closing price. SCOR responded that the bid is “fundamentally incompatible” with its strategy of staying independent
Ratings agencies say reinsurance rates to rise by less than 5 pct in 2019
“There is still too much capacity as far as pricing conditions are concerned, we think the (pricing) momentum is fading out,” S&P Global Director David Masters said
Crytocurrency storage firm Kingdom Trust obtains insurance through Lloyd’s
The move by Kingdom Trust, which has $12 billion in assets, is the latest example of a once-reticent insurance industry stepping up to offer protection to companies that store cryptocurrency, a volatile and loosely regulated, but rapidly growing business.
Hannover appoints Swiss Re’s Jean-Jacques Henchoz as new CEO
Since 2011, Jean-Jacques Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Reinsurance Company, Zurich, taking responsibility for both the life and non-life business of Swiss Re in this region.
Kerala Floods:Rs100 cr insurance claims, economic losses at Rs19,500 cr
The non-life insurers at the instance of General Insurance Council are meeting on Monday in Thiruvananthapuram.to take stock of the situation. Regional managers or the zonal chiefs of the general will be attending this meeting, said AV Girija Kumar, CMD, Oriental Insurance
Catastrophes cause global economic losses of $36 bn in H1 2018
Total global economic losses from disasters in H1 2018 were USD 36 billion, significantly down from USD 64 billion in
H1 2017 and well below average Global insured losses from disasters were USD 20 billion in H1 2018, down from USD 30 billion in H1 2017