Reinsurance

London marine insurers widen Middle East threat zone after ship attacks

International News       May 17, 2019

   LONDON:  London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market’s Joint...

Aon and Guy Carpenter partner with The Institutes RiskStream, to streamline the reinsurance placement process

International News       May 17, 2019

  London:  The Reinsurance Solutions business of Aon plc, and Guy Carpenter, a subsidiary of Marsh & McLennan Companies, have announce a joint effort with The Institutes RiskStream™ Collaborative to bring greater efficiency to the reinsurance placement process through distributed ledger technology (DLT).   The collaboration leverages...

Cyber Risks to exceed Natural Disasters for insurers: Scor CEO

International News       May 13, 2019

  Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and Chief Executive Officer Denis Kessler said, recommending the industry build a comprehensive, common global scale to assess cyber-related incidents.   “I dream of a kind of Richter scale for...

Lloyd's of London seeks behavior crackdown with culture Survey

International News       May 13, 2019

  London: Lloyd’s of London has commissioned an independent culture survey following a Bloomberg Businessweek article that uncovered evidence of sexual misconduct in the world’s oldest insurance market.   The survey is being carried out by the Banking Standards Board, a not-for-profit organization that aims to raise...

Crash Victims’ final minutes will influence Financial Liability for Boeing, Insurers

International News       May 13, 2019

  The amount of money Boeing Co. and its insurers will pay to the families of those who perished aboard two doomed jets will be dictated in part by one particularly grim calculation: How long did the victims know they were plunging to their deaths?   That...

Curv Partners with Munich Re to Commodify Digital Asset Insurance for Institutional Customers 

International News       May 11, 2019

NEW YORK and TEL AVIV:  Israel, May 10, 2019 /PRNewswire/ -- Curv, the cryptography pioneer securing the digital economy, announced a new partnership with Munich Re, one of the world's leading providers of reinsurance, to provide insurance protection of up to $50m for digital assets...

Finally, IRDA cancels license of ITI Reinsurance

Indian News       May 09, 2019

  Hydearabad: The insurnace regulator IRDAI has finally cancelled the license of the sole Indian private sector resurer ITI Reinsurance Limited, set up by Sudhir Valia,one of the promoters Sun Pharma, for failing to do to any business.   Though the company had received its license on...

Linus Phoon, CEO,Singapore, Munich Re

Munich Re appoints Linus Phoon CEO for Singapore & Southeast Asia

International News       May 09, 2019

  Munich: Munich Re has appointed Linus Phoon as Chief Executive Officer of its Singapore branch. In this capacity he will be responsible for overseeing Munich Re’s businesses in Singapore and the Southeast Asia region. This appointment is effective from 2 May 2019.   Based in Singapore,...

More than $1.1 billion raised through ILS in Q1 , market slows further

International News       May 07, 2019

  Singapore: Growth of the Insurance-linked securities (ILS) market continued to slow in the first quarter of 2019 following the reduction seen in Q4 2018. Slightly more than $1.1 billion was raised through non-life catastrophe bond issues, compared with an average of $1.8 million over the...

Hannover Re's Apr 1  treaty renewals increased by 6.6 %

International News       May 07, 2019

  Hanover: Hannover Re, the fourth-largest reinsurer in the world, said its treaty renewals as at 1 April 2019 increased by 6.6 per cent.The company is targeting a combined ratio of no more than 97 per cent in 2019..   Business in Japan is traditionally renewed at...

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