Global P&C prms expected to more than double to $ 4.3 trillion by 2040,becoming riskier and more complex:Swiss Re

International News       Sep 05, 2021

Zurich, Sept 06: Global P&C premiums are expected to more than double to USD 4.3 trillion in 2040 from USD 1.8 trillion in 2020, as the P&C portfolio composition is expected to shift from lower-risk motor insurance towards higher-risk property and liability lines, according to...

OneWeb signs unveils insurance programme for its satellites

International News       Sep 02, 2021

London: OneWeb, the low Earth orbit (LEO) satellite communications company, has signed an insurance agreement for an aggregate insured value of more than $1 billion through Marsh, the world’s leading insurance broker and risk advisor. Marsh arranged a multi-launch insurance programme covering physical loss or...

Laurent Rousseau, Chief Executive Officer,SCOR

SCOR's announces changes to its Group Executive Committee

International News       Sep 02, 2021

  Paris: SCOR today announces changes to its Group Executive Committee that reflect the importance of transformation and sustainability in the next phase of its strategic development. All internal promotions, these changes highlight the group’s deep talent bench. The new composition, proposed by Laurent Rousseau, Chief...

Surging collision risks Satellite and Space Debris force insurers to exit satellite coverage market

International News       Sep 01, 2021

  An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific data, industry sources said. Thousands of new satellites are being launched into areas where orbital rubbish...

John Coletti

Swiss Re creates a central cyber underwriting team,John Coletti to head Global Cyber

International News       Sep 01, 2021

  Zurich,Sept 02: Swiss Re today announced plans to create a central cyber underwriting team. John Coletti  from AXA XL, will join Swiss Re as head of Global Cyber. Maya Bundt, the current Head of Cyber Solutions, has decided to take on a newly created role...

Christoph Jurecka, chief financial officer, Munich Re

Munich Re raises €1bn green bond

International News       Sep 01, 2021

  Munich, Sept 02: After successfully issuing a green bond in 2020, Munich Re has launched a green subordinated bond for the second time in its corporate history. The volume of the issue is €1bn. The bond has a coupon of 1.00 % and will mature...

India's monsoon rainfall forecast to be above average in September

Indian News       Sep 01, 2021

  India is likely to receive above average rainfall in September, the state-run weather office said on Wednesday, helping millions of farmers who had to endure patchy rains in July and August. Monsoon rains were 10% above average in June. "According to critical weather parameters, rains...

Aon acquires 100% of its Indian JV, buys out 51% from Narayana Murthy's Catamaran

Indian News       Sep 01, 2021

  SINGAPORE/Mumbai, Sept 02: After receiving approval from the regulator IRDAI, USA  based re/insurance broker Aon plc  today, announced that it has increased its stake in Aon India Insurance Brokers from 49 percent to 100 percent, acquiring the remaining share from Catamaran Ventures,I. However, the second...

Weather disasters becoming more frequent and costly, UN agency says

International News       Sep 01, 2021

  GENEVA: The number of disasters, such as floods and heatwaves, driven by climate change have increased fivefold over the past 50 years, killing more than 2 million people and costing $3.64 trillion in total losses, a U.N. agency said on Wednesday. The World Meteorological Organization...

Total global reinsurance capacity rises 7% to $ 517 billion in 2020, Munich Re regains top ranking: AM Best

International News       Aug 31, 2021

  London: According to the latest global ranking excercise by international rating agency AM Best,Munich Reinsurance Company, with a total gross premium of $45,846 billion in 2020, moves to the top spot as the world’s largest reinsurer while Swiss Re, with a total gross premium of...