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Swiss Re’s net profit declines to USD 331 million in 2017, USD 4.7 billion of natural catastrophe losses

by AIP Online Bureau | Feb 23, 2018 | International News, Reinsurance

Zurich: Hit by an estimated combined claims of USD 4.7 billion from natural catastrophes, Swiss Re’s net income declined to USD 331 million in 2017 as compared to $3.56 billion in 2016, .   Gross premiums written by the reinsurer during the reporting...

China’s insurance Regulator seizes control of Anbang as chairman prosecuted

by AIP Online Bureau | Feb 23, 2018 | International News

BEIJING/SHANGHAI:    The Chinese government on Friday seized control of Anbang Insurance Group, one of China’s biggest insurance conglomerates, in a dramatic move that underscores Beijing’s intent to crackdown on financial risk.  ...

Govt meets general insurers to chart out NHPS roll-out

by AIP Online Bureau | Feb 22, 2018 | Health, Indian News

  New Delhi: The Ministry of Health has met the general insurers and state owned GIC Re on Thursday in New Delhi to prepare the road- map for rolling out the National Health Protection Scheme(NHPS),  billed as world’ s largest health insurance scheme....

Financial crime on the rise in India’s life insurance sector: EY report

by AIP Online Bureau | Feb 22, 2018 | Indian News

Mumbai: A report by the conulting firm Ernst & Young (E&Y), based on survey of insurance professionas, has said the rising transactions with third parties, data privacy concerns and gaps in operational processes have augmented financial crime risks...

India ranks 81st in global corruption perception index

by AIP Online Bureau | Feb 22, 2018 | Data, Risk Management

  India has been ranked 81st in the globalcorruption perception index for 2017, released by Transparency International, which named the country among the "worst offenders" in terms of graft and press freedom in the Asia Pacific region.  The index,...
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