Reinsurance

Global reinsurance market outlook stable, reinsurance capital exceeds $470 billion in 2020:AM Best

International News       Dec 07, 2020

  London:  AM Best has maintained its market segment outlook on the global reinsurance industry at stable for 2021, citing factors that include positive pricing momentum, combined with tighter terms and conditions, offset somewhat by uncertainty with regard to claims reserve development associated with previous years’...

French insurers to freeze premiums for sectors hardest hit by virus

International News       Dec 07, 2020

PARIS: French insurers have committed to refrain from raising premiums next year on companies in the sectors hardest hit by the coronavirus outbreak, French Finance Minister Bruno Le Maire said on Monday. Under pressure from Le Maire, insurers faced the prospect of being hit by...

Cyber insurance shifting into personal lines as consumer interest rises in UK:GlobalData

International News       Dec 06, 2020

  London,Dec 07: One in five individuals are interested in purchasing a cyber insurance policy, according to GlobalData’s 2020 UK Insurance Consumer Survey, as interest from the commercial space moves into personal lines. At present, the personal cyber insurance market is targeted towards high net worth...

Inigo Insurance Group to start underwriting at Lloyd's in January

International News       Dec 03, 2020

  London: Inigo Ltd., the new London insurance group that has raised $800m in start-up capital from a group of blue chip global investors, announced that it has received approval in principle from the Corporation of Lloyd’s and will start underwriting for Jan. 1, 2021. The...

Cyclone Burevi slams into eastern Sri Lanka

International News       Dec 03, 2020

  Colombo: Sri Lanka evacuated 75,000 people from homes on the east coast, where Tropical Cyclone Burevi, packing winds of 80 kph to 90 kph (50 mph to 56 mph) is expected to hit the island nation late on Wednesday. The cyclone is likely to damage...

Global reinsurance sector outlook stable on hardening market:Fitch

International News       Dec 03, 2020

  London/Frankfurt:  Fitch Ratings' sector outlook for global reinsurance in 2021 is stable, reflecting hardening pricing conditions, stabilising pandemic-related claims but depressed investment income due to ultra-low interest rates and deteriorating asset quality. The sector outlook is based on an updated definition employed by Fitch, which...

30 named storms: Record Hurricane Season in US comes to a close

International News       Dec 03, 2020

  A record-setting Atlantic hurricane season that saw the highest number of named storms officially came to a close Monday. The National Oceanic and Atmospheric Administration said the 2020 Atlantic hurricane season set multiple records while producing a record 30 named storms. There were so many...

Re/Insurance firm Vantage announces launch

International News       Dec 03, 2020

  NEW YORK: Today, Vantage Group Holdings Ltd. (Vantage) announced its launch, and with it, the launch of its wholly owned re/insurance subsidiary, Vantage Risk Ltd. (Vantage Risk). The new entity is led by CEO Greg Hendrick, a thirty-year industry veteran and former CEO of AXA...

Aon launches digital cyber insurance for small and middle market businesses

      Dec 02, 2020

  CHICAGO, :  Aon plc today announced the launch of a digital insurance solution for small and middle market businesses. With this new offering, businesses across a wide spectrum of industries can go through the full end-to-end process of buying and managing cyber and professional liability...

Reinsurer Conduit rises 5% after pricing $1.1 billion London IPO

International News       Dec 02, 2020

  LONDON: Reinsurer Conduit saw its shares rise 5% on its London market debut after pricing an 826 million pound ($1.1 billion) initial public offering (IPO) earlier on Wednesday. The company sold 164.13 million shares at 500 pence per share, it said earlier in the day....