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Indian
Random Covid testing for arriving international passengers from December 24
Prime Minister Modi urged everyone to follow Covid-appropriate...
New India launches Drone insurance, to cover physical damage to the aircraft and its theft
Neerja Kapur, CMD,NIA said, “India’s drone manufacturing industry...
Parl panel moots ex-ante regulations, digital competition law to curb unfair biz practices in digital markets
The suggestions are part of the Standing Committee on Finance's...
Amending Insurance Acts: General Insurers oppose changes in capital requirements, granting composite licenses
On granting composite licenses, general insurers say,suddenly...
International
Covid-19 claims cost life reinsurers billions
The biggest costs for life reinsurers came from the US and to a lesser extent the UK and Canada but claims from other countries including South Africa and in Latin America added to the costs. Life reinsurers only have limited exposure to India.
BI estimates Swiss Re accounted for around 35% of claims followed by Reinsurance Group of America on 27% but the decline in deaths should mean much lower claims for the second half of the year.
Howden launches Parhelion, world’s first fully sustainable insurer
Against the backdrop of an insurance industry starved of truly sustainable capacity, Parhelion’s new and diversified ESG products will meet the risk financing needs of a greener economy.
The new business has been seeded by Howden and will match the surge in institutional capital seeking sustainable investment strategies with the growing demand from corporates looking for an insurance provider to support their journey towards ESG transition and a more resilient future.
At the end of 2020, over $40tn of assets globally were invested in ESG-aligned and sustainable impact strategies, nearly double the amount invested just four years earlier*, but very little has been deployed across the (re)insurance industry.
Tencent-owned startup reinsurer FuSure receives license for Hong Kong operation
Willis Towers Watson launches new Sports and Entertainment Industry Group
Ian Tomlin, Head of Accident & Health, Willis Towers Watson commented, “We are excited to launch the Sports & Entertainment industry group, which will align a breadth of expertise across the network to offer the sector a new comprehensive, global approach to risk management. We are delighted to be working across the global sports industry as well as supporting event organisers and production companies in partnership with the Willis Towers Watson Leisure and Hospitality Practice.”
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