by AIP Online Bureau | Jan 6, 2023 | Eco/Invest/Demography, Non-Life, Reinsurance
Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said The Black Sea is crucial for the shipment of grain, oil and oil products....
by AIP Online Bureau | Jan 4, 2023 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance
Aviation reinsurance rates, heavily impacted by hundreds of stranded aircraft in Russia, rose by as much as 200%, Gallagher Re said. “The sector is experiencing its most acute, cyclical price increases since the 2001-2006 period, if not before,” said David Flandro,...
by AIP Online Bureau | Dec 16, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Hannover Re and Munich Re are among reinsurers who have warned that they will cease to underwrite any kind of risks — even indirect ones — related to the conflict in Ukraine from the start of next year, according to people familiar with the matter. The major German...
by AIP Online Bureau | Oct 28, 2022 | International News, Non-Life, Reinsurance
“We expect most of the rated regional reinsurers to revise asset allocations amid rate hikes in certain countries, capital market volatility, and inflationary pressures on hedging costs. Regional reinsurers continue to have relatively higher allocation to risky...
by AIP Online Bureau | Sep 19, 2022 | Indian News, Non-Life, Reinsurance
Globally, GIC Re, which is pruning its premium base by shedding its loss making business to be profitable, is the 14th largest international reinsurer in 2022. It was the 11th largest global reinsurer in 2021 “We would prefer to be one of the largest profitable...
