Reinsurance
John Neal, Chief Executive Officer,Lloyd’s of London.
Lloyd's, Parsyl to insure emerging market COVID-19 vaccine rollout
LONDON:Dec15: Lloyd’s of London and supply chain data insurtech Parsyl have launched a programme to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical challenge since the Second World War. The Global Health Risk Facility (GHRF),...
Aon's $30 billion Willis deal faces EU probe - sources
BRUSSELS, Dec15: The European Union’s antitrust regulators are to open a full-scale investigation into Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, two people familiar with the matter said.The all-stock deal, which would merge the world’s second and...
Global litigation financiers plan India entry to target company disputes
MUMBAI, Dec 14: Some of the world’s top litigation financiers like Australia’s Omni Bridgeway and a unit of U.S. insurance broker Marsh Inc plan to tap the Indian market by funding the legal costs of disputes that embroil companies, executives told Reuters. The concept of...
$83 billion global insured cat losses in 2020, the fifth-costliest on record:Swiss Re
Zurich, December 15: Insurance industry losses from natural catastrophes and man-made disasters globally amounted to USD 83 billion in 2020, according to Swiss Re Institute's preliminary sigma estimates. This makes it the fifth-costliest year for the industry since 1970. Losses were driven by a record...
Insurers stich $90 billion merger deals to add muscle power
Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced this year to nearly $93...
Aon report highlights a path toward "The New Better" in wake of COVID-19 Pandemic
CHICAGO:,Dec 08 Aon plc has published a global report, "Helping Organizations Chart a Course to the New Better," which presents research, regional findings and trends on how organizations have responded to the novel coronavirus (COVID-19) pandemic to date and are adapting to prepare for other...
Get used to limited access, EU tells City of London bankers & insurers
LONDON: Britain’s huge financial sector will never again have the same access to the European Union as it did when the country was a member of the bloc, the EU’s financial services chief said. Brexit makes it “even more urgent” for the EU to develop...
When $2 trillion falls short, the next 2020 may be uninsurable
LONDON; There aren't many contexts where US$2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from Covid-19 has left insurers issuing existential warnings and businesses discovering they weren't covered. It's resulted in courts packed with lawsuits and governments scrambling...
Munich Re to no longer cover events cancelled for pandemics
FRANKFURT/MUNICH: German reinsurance group Munich Re will no longer insure against events cancelled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this year in the wake of the coronavirus crisis. Torsten...
Joachim Wenning,,Chairman of the Board of Management, Munich Re
Munich Re’s “Ambition 2025” sets new growth and results targets
Munich: With its Group Ambition 2025, Munich Re has specified a series of bold targets for the next five years. Munich Re is targeting a combined ratio of approx. 95% each year through 2025 in property-casualty reinsurance. The Group will retain and bolster its core...
