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Canopius announces Andy Haste as Group Chairman
He has deep insurance expertise; his former roles include group...
Health sector most at risk from AI-related threats, Swiss Re
Christoph Nabholz, Chief Research & Sustainability Officer at...
Indian banks inadequately prepared for cyber attacks: Experts
“While there is growing awareness to regularly update an organisation’s cyber preparedness and defence mechanisms, a large number of institutions wake up to this reality only post an incident which often leads to a loss of reputation and/or financial misappropriation,” Nikhil Bedi, Partner, Deloitte India
July drought and wildfires likely to result in minimum €3.5bn economic loss in Europe: Aon report
Michal Lorinc, an analyst within Impact Forecasting’s Catastrophe Insight team, said: “The month of July was marked by record-breaking heat, deepening droughts, and destructive wildfires in areas all around the globe. Nearly every major continent recorded some type of peril impact that will lead to a major cost to agricultural interests. All eyes are on the looming possibility of an El Nino return by the end of the year, which could exacerbate these types of impacts.”
Merger Deals Now Include #MeToo Sexual Harassment Clauses
“We do market research, search engine and social media assessments to evaluate the reputation of any brand,” Belisle said in an interview. “Doing that helps us to uncover risks and figure out where the opportunities might be for a company.” Gaining that perspective on a brand can give private equity firms an advantage when considering where to invest — and an edge over their peers in a bidding process.
Tests expose risks of Semi-Autonomous driving systems
The Insurance Institute for Highway Safety, in a paper titled “Reality Check,” issued the warning Tuesday after testing five of the systems from Tesla, Mercedes, BMW and Volvo on a track and public roads. The upshot is while they could save your life, the systems can fail under many circumstances.
Atlantic Hurricane Season had early start, but fewer Storms Are Expected
Twelve named storms are likely to form in 2018, fewer than last year’s 17 and below the 1981-2010 average, according to a forecast Thursday from Colorado State University. That reduces the chance of Gulf of Mexico disruptions for energy and agriculture. But the outlook is a slight increase from July’s 11 and comes as the Atlantic Basin is about to enter its most active period.
GIC Re doubles its net profit at Rs 771.42 cr in Q1, gross prm at Rs 18,791.45 cr
GIC Re’s underwriting losses have fallen drastically to Rs 96.37 crore in Q1 FY2018-19 as against Rs.658.47 crore in Q1 FY 2017-18.The total assets of the company increased by 15 per cent to Rs 121,747.89 crore as on June 30,2018 from Rs 1,05,823.99 crore as on June 30, 2017 .
SCOR delivers a strong performance, net income at EUR 262 million in H1 2018
The reinsurer’s gross written premiums total EUR 7,537 million, up 8.2 per cent at constant FX compared to H1 2017 resulting from growth in both Life and P&C, which are up 10.5 per dent and 4.9 per cemt respectively at constant FX compared to H1 2017
Munich Re appoints a new CFO, reorganises Board
The Supervisory Board has also decided to reallocate responsibilities on the Board of Management of Munich Re. This will mean larger divisions, but no changes in the composition of the Board. Units will be reallocated as part of the reorganisation.
Lloyd’s perfect prediction on World Cup champion for second time
Lloyd’s had based its prediction on research conducted in collaboration with the Centre for Economic and Business Research (Cebr), which estimated the collective value of all teams in this year’s tournament at £13.1 billion.France’s insured team value was the highest among the most expensive teams in terms of insurable value at £1.4 billion, followed by England (£1.17 billion) and Brazil (£1.1 billion).
“Market conditions are very tough in the Indian general reinsurance business”
Gen Re, a member of the Berkshire Hathaway,run by its famous Warren Buffet, has kicked off its operations in India after receiving the final licence from Insurance Regulatory and Development Authority of India (IRDAI).
Three of its functionaries- Winfried Heinen, Chairman of the Executive Board of Directors of General Reinsurance AG, Rainer Schurmann, managing director, Property & Casualty, Treaty Asia,Venkatesh N Chakravarty, chief executive officer, India, outline the reinsurer’s strategies for Indian market