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Reinsurers hike prms & tighten terms in Apr 1 renewals

` The GIC Re consolidated its leading market position in proportional property despite imposing tightened terms and reduced commissions. The foreign branches of global reinsurers remain largely passive or absent in this arena . Risk and event capacity purchased remained broadly stable with some instances of modest retention uplift.’’ Will Re

UP plans 1,000 hospitals; Ernst & Young asked for detailed project report

“As an extension of the central government’s Ayushman Bharat scheme,we are in the process of identifying two community health centres in each district. Their land, about three acres each, will be given on a long-term lease to private company which will construct a 100-bed hospital, along with an operation theatre and diagnostic centre,” he said. The project is likely to begin from November this year.

Govt to remain flexible in fixing NHPS premiums

“We want all the participating players including insurers, hospitals and other health care providers to have moderate amount of profit but not brutal profiteering at the cost of state exchequer.I think for this mission to be successful it has to be viable business and the intent is that we should have package rates and costing which is fair for the health sector as a whole and it is fair national exchequer,’’ said Paul  

EU’s Barnier plays down bespoke Brexit deal for British financial sector

“Why would the equivalence system, which works well for the U.S. industry, not work for the City?,” Michel Barnier told a financial conference in Sofia, the Bulgarian capital.The so-called equivalence system works on the basis of Brussels granting access to the EU for banks, insurers and asset managers from outside the bloc if the bloc deems their home rules to be similar enough.

SCOR’s  net income at EUR 166 million, up 18.6 % in Q1 2018

At the April 1, 2018, renewals, SCOR Global P&C grew gross written premiums by 13.5% at constant exchange rates to EUR 505 million, while improving risk adjusted pricing by 2.9% and maintaining stable terms and conditions. Growth was achieved in both Treaty (especially in India and the U.S.) and in Specialty Treaties (including in Agriculture, Credit and Surety and U.S. Cat).