Munich Re invests heavily in data analytics & artificial intelligence:Doris Höpke

International News       Oct 21, 2019

  Baden Baden:  New technologies and the ability to process large amounts of data are revolutionising the value chains across entire industries – including in insurance, said Doris Höpke, member of the Board of Management of Munich Re. . Nowadays, Munich Re experts combine primary insurers’...

Typhoons Faxai, Hagibis, not likely to materially impact Japanese non-life insurers’ capitalisation

International News       Oct 18, 2019

  Hong Kong: The recent mega-typhoons in Japan are unlikely to affect the financial stability of the country’s three major non-life insurers due to their appropriate catastrophe risk management and strong capitalization levels, according to a new AM Best commentary.   In a new Best’s Commentary, titled,...

 Brexit may spur more deals in legacy general insurance policies

International News       Oct 18, 2019

  LONDON: Britain’s impending departure from the European Union is creating expansion opportunities for specialist general insurers who buy up and manage policies closed to new customers.   Whether Britain leaves the European Union without a deal or under a so-called hard Brexit, British insurers selling policies...

Brexit insolvency fears boost demand for trade credit insurance

International News       Oct 16, 2019

LONDON: Companies are stepping up purchases of insurance to protect themselves against insolvencies in Britain, industry sources say, in part due to concerns about the impact of Brexit.The UK economy is feeling the pinch from the political uncertainty, which has hit consumer spending and led...

London retains status as top global financial services center, despite Brexit chaos

International News       Oct 15, 2019

  From the pinnacle of the City of London’s largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit.   The 76-year-old property developer is not alone. Bankrolled by...

Daimler Recalls Thousands of Mercedes-Benz Vehicles over Diesel Emissions

International News       Oct 14, 2019

   German carmaker Daimler is recalling hundreds of thousands of Mercedes-Benz vehicles including Sprinter van models over diesel emissions issues.   Daimler said late on Friday that Germany’s road traffic regulator KBA has concluded hearings over certain Mercedes-Benz vehicles with so-called OM651 diesel engines meeting Euro 5...

TR Alamelu, member, nonlife, IRDAI

IRDAI forms panel to review existing reinsurance norms

Indian News       Oct 11, 2019

  Hyderabad: The insurance regulator IRDAI has once again constituated a top level panel to review the set of existing reinsurance norms.   The committee will be headed byTR Alamelu, member, nonlife, IRDAI and would suggest amendments to reinsurance, investment, foreign reinsurance branches(FRBs) and Lloyd’s India regulations...

Why strong monsoon rains are not necessarily good news for Indian farmers

Indian News       Oct 11, 2019

  India, one of the world's biggest agricultural producers, experienced its heaviest monsoon rains in 25 years this year.While rain would normally cheer the agricultural heartland, the monsoon was erratic and has left many crops damaged. WHY IS THE MONSOON IMPORTANT? India is the world's biggest...

Joachim Wenning, chairman, Munich Re

Munich Re invests $ 250m more in Next Insurance

International News       Oct 07, 2019

  Munich/Netherlands Munich Re, the second largest global reinsurer,has increased its stake in Next Insurance by investing an additional US$ 250m in the Californian Start-up. Upon completion of the transaction, Next’s value will increase to slightly above US$ 1bn.   This investment deepens Munich Re’s partnership with...

Axis Capital drops bid to cover Adani's Australian coal mine project

International News       Oct 04, 2019

  NEW YORK/LONDON:  Lloyd’s of London insurer Axis Capital has become the latest to rule itself out of providing coverage for Adani Enterprises Ltd’s contentious Carmichael coal mine project in Australia, a source close to the company said on Wednesday.   Axis has withdrawn its quotes for...

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