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Indian
Cyclone Sitrang: IMD issues advisory, suspends offshore activities in north Bay of Bengal
“Due to the cyclonic storm over West Central Bay of Bengal and...
Bajaj Allianz General Insurance posts PAT at Rs 747 crore
The combined ratio, which measures the performance of the insurance...
No govt, LIC veto post privatization of IDBI Bank
The government earlier this month invited bids for the sale of a...
IndiaFirst Life Insurance files draft papers to raise funds via IPO, size could be between Rs 2,000 crore and Rs 2,500 crore
BOB, India's third largest PSU bank, holds 65 per cent stake in the...
International
SCOR’s Apr 1 Indian renewal kitty swells by 21% to EUR 178 million
SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange rates to EUR 600 million, with a 4.3% overall increase in pricing.
The bulk of the portfolio renewed on April 1 (64%) is in the Asia-Pacific region, of which Japan and India are the most significant markets (each accounting for approximately 28-29% of total premiums up for renewal):
3.1 million external attacks on Cloud user accounts in Q4 2020: McAfee report
“Ransomware and malware targeting vulnerabilities in work-related apps and processes were active and remain dangerous threats capable of taking over networks and data, while costing millions in assets and recovery costs,” Samani added.
Malware was the most reported cause of security incidents in Q4, followed by account hijackings, targeted attacks and vulnerabilities.
Insurance startup Clearcover raises $200 million from Eldridge, others at $1 billion valuation
The COVID-19 pandemic has reduced the importance of physical networks of agents in insurance and helped “insurtech” providers like Clearcover, which uses artificial intelligence and big data to reduce costs and better target customers.
Global investment in the sector jumped 12% to $7.1 billion for 2020, a record high, according to Willis Towers Watson.
Generali in talks to buy AXA assets in Malaysia, sources say
“Asia is a fast-growing market and a focus for Generali,” one of the sources said.
Generali had been looking at a series of AXA assets in Malaysia worth around 700 million euros but the sources said it was in talks to buy the French insurer’s non-life business.
Europe’s third biggest insurer has been in Malaysia since 2015 and the deal could make it the second-biggest property and casualty operator in the country.
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