International News

Peak Re launches first Asian reinsurance sidecar transaction

Non-Life, Reinsurance       Dec 09, 2018

  Hong Kong Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, today announced that it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralised retrocession for part of Peak Re’s...

Chinese billionaire Jack Ma

Jack Ma is using sports data to change the way people shop

Health, Intermediaries       Dec 06, 2018

  Just as professional sports teams have used reams of data to maximize performance, Chinese billionaire Jack Ma is turning to analytics to get the most out of fans and change the way athletic events are managed and people shop for gear.   After getting its start...

AM Best revises 2019 Global Reinsurance Outlook to Stable

Life, Non-Life, Reinsurance       Dec 12, 2018

OLDWICK, N.J: AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019, citing factors stemming from a growing alignment between traditional and third-party capital among non-life reinsurers. A more-stabilized pricing environment—albeit at levels still below long-term...

Next generation of combustion engines, in 2026, to be the last: Volkswagen

Climate Change, Eco/Invest/Demography, Non-Life       Dec 06, 2018

  Wolfsburg, Germany:  Volkswagen's strategy chief said on Tuesday the German carmaker's core brand will develop its final generation of vehicles using combustion engine technology in 2026.   Volkswagen made a strategy shift towards battery-driven vehicles in the wake of a damaging diesel-emissions cheating scandal in 2015,...

Insured losses from California Wildfire Between $6 bn and $9 bn: AIR Worldwide

Disaster & Management       Dec 06, 2018

   Boston: Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between USD 6 billion and USD 9 billion.    Taken together with the Woolsey fire in Southern California, AIR estimates that industry insured losses from...

Marriott CFO says too early to estimate Cyber Breach costs

Non-Life, Risk Management       Dec 05, 2018

  It’s too soon for Marriott International Inc. to estimate the cost of the massive cyber breach that the company disclosed last week, and other companies that have suffered big attacks are imperfect proxies, said Chief Financial Officer Leeny Oberg at an investor conference today.   “Any...

Early diagnosis of disease to drive future life expectancy, Swiss Re

Health, Life, Risk Management       Dec 05, 2018

  Zurich:  Life expectancy has steadily improved internationally for well over a century. In recent years, however, there are signs that the rate of mortality improvement has slowed in a number of advanced countries. Statistically, it is difficult to determine if the recent slowdown is simply...

Self-Driving Vehicle Regulation Bill gets late push in US Senate

Non-Life, Risk Management       Dec 04, 2018

  Washington:   Key U.S. senators are making a last-ditch effort to win approval of a bill to speed the use of self-driving cars without human controls, but face an uphill battle on Capitol Hill.   Staff for Republican Senator John Thune and Democratic Senator Gary Peters circulated...

Actuaries face uncertainty amid encroachment by Data Scientists

Life, Non-Life       Dec 04, 2018

  Riley Howsden has one of those hip jobs everyone loves to hate. He works at L.A.-based video game producer Riot Games, where business attire includes hoodies, the food comes free and his job entails deducing what kinds of products gamers might buy. Aggressive players, for...

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