Reinsurance

Freak weather poses new risk to India's renewables goals

Indian News       Jul 17, 2019

  New DelhI: India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather.    Freak climatic conditions are damaging renewable energy projects, threatening a business which survives on wafer-thin margins. A storm...

Shipping firms begin hiring unarmed guards for voyages in Middle East Gulf

International News       Jul 17, 2019

Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said.   Relations between Iran and the West are increasingly strained after Britain seized an Iranian tanker...

Harvard University invests in Litigation Finance Fund

International News       Jul 16, 2019

Harvard University is committing more capital to a strategy that backs plaintiffs in commercial disputes, delivering robust uncorrelated returns.   The strategy is run by IMF Bentham Ltd., a publicly traded company which last week finished raising $500 million for a fifth litigation fund that will...

EU braces for No-Deal Brexit if Johnson becomes UK Prime Minister

International News       Jul 16, 2019

  London: The European Union is bracing for either a no-deal Brexit or another delay if Boris Johnson becomes Britain’s prime minister next week with a pledge to renegotiate a deal the bloc says it will not reopen. The three-year Brexit crisis could be about to...

Relaxing foreign-ownership laws will benefit Indian insurers:Fitch

Indian News       Jul 15, 2019

  Colombo: India's proposed removal of the foreign-ownership cap on insurance intermediaries is likely to increase competition, strengthen distribution capabilities to enhance insurance penetration and boost M&A in the medium to long term, said Fitch Ratings.   More international companies are likely to enter the fast-expanding Indian...

French utility EDF prepares its nuclear reactors for climate change

International News       Jul 11, 2019

  Paris: Electricite de France SA is preparing its nuclear power facilities to operate in more severe heatwaves in the coming decades as a changing climate may interfere with key electrical equipment.   The utility, which produces almost three-quarters of France’s electricity from its 58 nuclear reactors,...

Swiss Re suspends £3.3bn ReAssure’s IPO due to market conditions

International News       Jul 11, 2019

  Zurich: Swiss Re announced today the suspension of its previously communicated plans for an initial public offering (IPO) of ReAssure. This action is in response to the heightened caution and weaker underlying demand in the UK primary market from large institutional investors.   Swiss Re’s Group...

Cyber attacks cost $45 bn in 2018 as ransomware hits hard

International News       Jul 09, 2019

An estimated two million cyber attacks in 2018 resulted in more than $45 billion in losses worldwide as local governments struggled to cope with ransomware and other malicious incidents, a study showed July 9.   The Internet Society's Online Trust Alliance, compiling data from the United...

Global insurance prms exceed a record $5 trillion in 2018, to grow by 3% in 2019/20:Swiss Re Study

International News       Jul 04, 2019

  Zurich: Global insurance premiums passed the USD 5 trillion mark for the first time in 2018, equivalent to more than 6 per cent of world gross domestic product (GDP). This was based mostly on solid growth in the non-life sector, particularly in China and other...

AIR publishes its catastrophe exposure data schema publicly

International News       Jul 01, 2019

  BOSTON: Catastrophe modeling firm AIR Worldwide today announced that it has published its Catastrophe Exposure Data Exchange (CEDETM) database schema publicly, to facilitate accurate and transparent data exchange throughout the insurance value chain more efficiently, and to encourage additional analytics on a greater number of...

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