Reinsurance

20 APAC re/insurers record a higher premium of $821.4bn in 2020, COVID induces demand for life & health products, GlobalData

International News       Aug 30, 2021

  Singapore, Aug 31: The COVID-19 pandemic-induced rise in demand for life and health insurance products helped the top 20 Asia-Pacific (APAC) public insurance companies report aggregated premium of US$821.4bn, a year-over-year (y-o-y) growth of around 2.5% in their top-line performance in 2020, finds GlobalData, a...

Resting on climate action a $11 trillion opportunity for India: Deloitte Report

Indian News       Aug 29, 2021

  New Delhi: India must act now to prevent the country losing USD 35 trillion in economic potential over the next 50 years due to unmitigated climate change, a new report from the Deloitte Economics Institute has said. The report, titled 'India's turning point: How climate...

Hurricane Ida lashes Louisiana, knocking out power in New Orleans

International News       Aug 29, 2021

  Aug 30: Hurricane Ida plowed into Louisiana from the Gulf of Mexico as a fierce Category 4 storm on Sunday, lashing the coast with 150 mile-per-hour winds, torrential downpours and pounding surf that submerged much of the shoreline under several feet of water. Ida, the...

Japan's Fukushima nuclear water to be released via undersea tunnel

International News       Aug 28, 2021

  Tokyo: The operator of the wrecked Fukushima nuclear power plant said Wednesday it plans to build an undersea tunnel so that massive amounts of treated but still radioactive water can be released into the ocean about 1 kilometer (0.6 mile) away from the plant to...

Climate Change: Insurers can afford to drop Oil and Gas—but many won't

International News       Aug 28, 2021

  For the insurance industry to fulfill its stated commitment to combat climate change, it may want to accelerate its efforts to exit the oil and gas industry. To date, just one insurer has promised to take “significant action” in this regard, according to analysts at...

ELEMENT and Parametrix launch innovative cloud outage insurance in Europe

International News       Aug 28, 2021

  Berlin, Aug 28: ELEMENT, Germany's only 100% cloud-based insurance company, announced a new partnership with US-based Parametrix Insurance - the first on an international level. Together the companies have launched a first-of-its-kind parametric cloud outage insurance, designed to cover financial losses due to downtime of...

Air taxis will be possible in coming days under drone rules: Scindia

Indian News       Aug 26, 2021

New Delhi: Air taxis that will traverse the airspace instead of roads will be very much possible in the coming days under the drone rules announced on Thursday, Civil Aviation Minister Jyotiraditya Scindia said. "Air taxis are being researched and invented globally and many startups...

Lloyd’s forms partnership to deliver faster claims service through geospatial technology

International News       Aug 26, 2021

  London: Lloyd’s, the world’s leading marketplace for commercial, corporate and speciality risk solutions, has announced a two-year partnership with geospatial insurtech McKenzie Intelligence Services (MIS). The new agreement provides the Lloyd’s market with access to mutli-source intelligence including world-class satellite imagery, through the Global Events...

Nirmala Sitharaman ,union finance minister

``Govt to have minimum presence in life insurance, general insurance and reinsurance'' Sitharaman 

Indian News       Aug 25, 2021

  Mumbai: Government to have some presence in life insurance, general insurance and reinsurance, said finance minister Nirmala Sitharaman on Wednesday in Mumbai. On the government's plans to reduce stakes in insurers, Sitharaman said the government will go down to having minimum holdings in such companies....

Christian Mumenthaler, Group Chief Executive Officer,Swiss Re

Swiss Re and Climeworks sign world's first 10-yr carbon removal purchase agreement

International News       Aug 25, 2021

  Zurich: Swiss Re and Climeworks, a leading specialist in carbon dioxide air capture technology, are partnering to combat climate change. The partners signed the world's first long-term purchase agreement for direct air capture and storage of carbon dioxide, worth USD 10 million over ten years....