Reinsurance

Investors and insurers of Russian pipeline projects at risk of US sanctions

International News       Jul 18, 2020

  U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and Turkey. Pompeo told a news conference that European investors...

China takes over companies linked to disappeared financier

International News       Jul 18, 2020

  Chinese regulators will assume control of nine financial firms that are linked to a financier who was taken from a hotel in Hong Kong by Chinese authorities in 2017 and hasn’t been seen in public since. Among the companies being taken over are Huaxia Life...

AM Best revises Swiss re's credit rating outlook to negative

International News       Jul 17, 2020

  London: International rating agency AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” of te Swiss Re, the second largest global reinsurer and its rated operating affiliates.  However, the outlook of the...

Swiss Re and PGGM enter into second private sidecar transaction

International News       Jul 16, 2020

  Zurich: Swiss Re has successfully closed a second private sidecar transaction with the Dutch pension fund manager PGGM. The transaction increases PGGM’s overall investment in Swiss Re’s sidecar vehicle, Viaduct Re Ltd., to over USD 500 million.  The transaction is a further milestone for Swiss...

Insurers favor warehouse investments over offices as pandemic hastens real estate shifts

International News       Jul 16, 2020

Global insurers want to increase investments in commercial warehouses as their stakes in office space become riskier because of employees working remotely during the novel coronavirus pandemic, Goldman Sachs Asset Management (GSAM) executives said. The pandemic is hastening a shift among insurers to exchange “undesirable”...

Asian waters account for most shipping losses,global numbers hit record low:AGCS

International News       Jul 15, 2020

  Singapore: Asian waters accounted for a third of a large vessels lost at sea globally, even as large shipping losses are at a record low having fallen by over 20% year-on-year, according to specialty insurer Allianz Global Corporate & Specialty SE’s (AGCS) Safety& Shipping Review...

Covid-19 Pandemic:Global reinsurnace capital shrinks by 6 % to $590 bn,tightening of reinsurance capacity expected:AON

International News       Jul 14, 2020

  London: Aon,in its latest``Reinsurnace Market Outlook''((for the period of June & July), released on Tuesday,estimated that Q1(Jan-Mar, 2020) total global reinsurance capital stood at USD590 billion, a decrease over 2019 of USD35 billion, or 6 percent. This result was comprised of a 6 percent drop...

Six Harvey Weinstein accusers call $18.9 million New York settlement a 'cruel hoax'

International News       Jul 14, 2020

  NEW YORK: Six women who claim they were sexually abused by Harvey Weinstein urged a U.S. judge on Monday to reject an $18.9 million settlement with the disgraced movie producer, the board of his former studio and other accusers. The settlement announced on June 30...

Fabien Conderanne,Regional Head, Financial Solutions,Asia Pacific,Willis Towers Watson

Willis appoints Fabien Conderanne as Regional Head of Financial Solutions in Asia Pacific

International News       Jul 14, 2020

  SINGAPORE: Willis Towers Watson, a leading global advisory, broking and solutions company, announced the appointment of Fabien Conderanne as Regional Head, Financial Solutions for Asia Pacific. effective 1 July, Fabien takes over from Stuart Ashworth, who has been promoted to the global role of Head...

Markel appoints Head of Renewable Energy,first ever based in Asia

International News       Jul 13, 2020

  London &Singapore:  Markel International, the specialist insurer, has today appointed Thomas(Tom) Baker as senior underwriter - head of renewable energy. Based in Singapore, Tom is Markel’s first ever Asia-based global head as well as their first renewable energy underwriter in the region. Reporting to Rohan...