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Indian
AMFI pitches for pension oriented MF Scheme; tax parity with ULIPs
Amfi has proposed ''to bring parity in tax treatment in respect of...
More states report Omicorn cases, total no hit 38 in India
Omicron has been detected in Maharashtra (18), Rajasthan (9),...
Inflation data, Fed interest rate decision major events for markets this week: Analysts
''The impact of the Omicron variant on the market has cooled off...
Public health groups, doctors urge govt to hike excise duty on tobacco products in next Union Budget
''Tobacco industry in India has been virtually enjoying an extended...
International
Insurers secure sufficient reinsurance capacity at the 1 July and 1 June renewals:Willis Re
In general,the longstanding underlying issues of rate inadequacy continued to fuel measured rate adjustments in many classes and geographies, led by the U.S. treaty market.Double-digit risk-adjusted reinsurance price increases were seen for loss-hit catastrophe treaties and ranged from +10% to +20% for the programs of Australian and Latin American insurers,to as much as +35% in the Florida homeowner renewals.
Collectively reinsurers are recognising that COVID-19 losses, which currently are reported at about $7 billion, may take several years to settle which will spread out reserving over many quarters.
AGCS embarks on global overhaul to regain profitability and market leadership
Joachim Mueller, AGCS CEO since December 2019, said “We will now focus our entire business under a new strategic direction. We will put technical excellence in underwriting before growth, simplify and strengthen our global model to ensure that we think and act as one team, and become more efficient, leaner and faster – benefitting us and our clients. Our joint ambition is set high: The ‘New AGCS’ will be the market leader in our target segments. We expect to see significant profitability improvements of our underwriting results from 2021 onwards and aim to achieve the full turnaround and transformation of our company by 2024.”
U.S. commercial automobile insurance segment records decade-worst underwriting loss in 2019
BoE to review climate impact of corporate bond-buying after COVID crisis
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