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States, UTs urged to link ABHA IDs with health portals: Health Secretary
As per the Ayushman Bharat Digital Mission (ABDM) dashboard, total...
Houthi leader vows to continue maritime attacks, calls Indian Ocean ‘new theatre of confrontation’
Al-Houthi also claimed that his group had attacked 102 vessels...
SCOR’s net income falls to EUR 286 mn in 2017, Gross premiums touch EUR 14,789 million, up 8.6 pc in 2017
Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented: “2017 was marked by an exceptional series of major natural catastrophes. The Group is fully mobilized to reach the strategic targets set out in “Vision in Action”.
GIC Re’s net at Rs 672 cr in Q3FY 2018
`With 60 per cent of the market share, we have maintained our leadership in the domestic market and would so in future despite competition arising out of presence of other major global reinsurers in India. We intend to bring down our combined ratio to below 100 per cent and wish to be the 10th largest reinsurer in the world at the end of the current fiscal,’’ said Vaidyan adding that setting up a syndicate at Lloyd’s of London, that will be starting its business in the new fiscal, will add to the international business of the GIC Re.
SCOR’s P&C reinsurance renewal premiums grow by 3.7pc to Eur 3.1bn
Victor Peignet, CEO of SCOR Global P&C, commented: “SCOR has a strong position in the 2018 renewals, resulting from the Group’s multiple recent rating upgrades, a client-by-client approach, and the expansion of our capabilities as described in our ‘Vision in Action’ plan. We negotiated to reduce, cancel or decline business that did not meet our hurdles without damaging our franchise. As a result, our portfolio renewed in January is both larger and more profitable while still being well-diversified.”
Swiss Re in talks with SoftBank, may divest minority stake
A media report, citing sources familiar with the matter, said the deal under discussion was for the purchase of up to a third of Swiss Re’s shares at a premium. Such a deal would make SoftBank the largest investor in the reinsurance group.
Cat hit Markets see price rise at 1 January renewals:Munich Re
“Other markets and branches were also freed from the pricing pressures of previous years, and price development was stable or even slightly positive. Despite the high losses from natural catastrophes in 2017, the availability of reinsurance capital remained high during the January renewals, so price increases were moderate overall, due also to the slight rise in market interest rates,’’ said the second largest global reinsurer while announcing its annual results on Tuesday.
Swiss Re further strengthens its position in Asia
“Asia has experienced strong economic growth and development in recent years. This naturally comes with additional risk for businesses, governments and societies. As the world becomes more interconnected, the nature of risks develops: geopolitical uncertainty, growing environmental concerns, ageing populations and new health challenges become significant issues to be addressed in this region”
$344 bn global economic losses in 2017, a record nat cat year: Aon report
Insured losses to the private sector and government-sponsored programs were among the costliest ever incurred, reachingUSD134 billion in 2017 – just behind the record USD137 billion in 2011. This is 139 percent higher than last year’s USD56 billion, primarily due to high insurance penetration in the US
Reinsurance regulations to be out by February end: IRDAI
On foreign companies showing interest in entering the Indian market, the regulator said there are four or five that have applied for licenses and have evinced keen interest on the non-life and health front.
Jan 1 rate firming remains moderate :Guy Carpenter
Reinsurance capital at he end of 2017 is approximately USD 427 billion, up 2 percent from year-end 2016. While traditional capital is flat, convergence capital grew 9 percent to USD 82 billion including replacement of lost or trapped capital
Lloyd’s eyes USD 10 mn prms from India operations in 2018:Inga Beale
Lloyd’s has already appointed three people for its Indian branch located in Mumbai so far and would likely to appoint one more person within a week.Lloyd’s has already got two syndicates in India-MS Amlin and Markel- and is in talks with three four more syndicates those can be part of Lloyd’s branch operations in thecountry