All News articles – Page 102
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AIREuropean flood claims could reach €6.5 billion - RMS
Germany is the dominant contributor of loss to the event with about 70 percent of the total loss, followed by Belgium with about 25 percent
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NewsAxa has paid £75m for Covid-linked BI claims to date
Insurer Axa has paid out £75m for Covid-19-related business interruption (BI) claims following the Supreme Court’s appeal ruling in January 2021, confirmed Tara Foley, the firm’s chief executive of UK retail.
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NewsWillis Tower Watson sues broker rival over ‘poaching’ for its public entity team
Willis Towers Watson (WTW) has sued broker Alliant Insurance Services for reportedly ”poaching its staff” to grow its public entity team.
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NewsBermuda (Re)insurers paid $30 billion to European Union customers since 2016
The survey results reflect the growing significance of the Bermuda (re)insurance market’s contribution to the EU over these two and a half decades.
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NewsLloyd’s syndicate Ki hires new chief technology officer
Lloyd’s digital syndicate Ki has hired Richard Hodgson in the newly created role of chief technology officer.
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NewsIrish competition authority secures commitment from six insurers to combat price signalling
The Competition and Consumer Protection Commission (CCPC) in Ireland has secured legally binding commitments from six insurers operating in the country’s motor insurance market in a bid to stamp out price signalling.
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NewsCovid-19 drives underwriting losses of £2bn for Lloyd’s market – Insurance DataLab
The Covid-19 pandemic has driven underwriting losses of more than £2bn in 2020 for Lloyd’s market according to new analysis from Insurance DataLab.
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NewsInsurance industry witnesses ‘large drop in appetite for terrorism cover’
The “terrorism threat level in the UK is going to rise” as the current conflict in Afghanistan continues and Al-Qaeda, alongside other Islamist extremist groups, fights to freely operate in the country once again, according to Alan Brett, product development manager at MGA Inperio.
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NewsTokio Marine Holdings completes share buyback
TMH stated that the reason for the repurchase of its shares was to implement flexible financial policies.
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NewsFCA updates GI pricing rules following stakeholder feedback
The FCA has issued an update to its incoming pricing practice changes for the motor and home insurance markets, based on feedback from stakeholders.
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NewsTokio Marine Insurance Singapore falls victim to ransomware cyber attack
Tokio Marine Insurance Singapore Limited (TMiS) revealed it was subject to a ransomware cyber-attack on August 16 2021
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NewsWhitespace sees 84% increase in business placed on its etrade platform during 2021
Technology company Whitespace has seen a notable increase in the adoption and usage of its digital etrading platform for brokers and insurers over the last 14 months, with an increase of 84% in June 2021.
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NewsPort closure signals further strain for global trade
Partial closure at China’s Port Ningbo adds to global supply chain woes, threatening $172 billion of goods - Russell Group
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NewsThe reinvention of supply chains
Near shoring and technology will shape the post-COVID supply chain, thinks AXA XL’s Pascal Matthey
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NewsChinese insurers endure costliest-ever nat cat
The total economic cost of flooding in China in July has been estimated at nearly $25 billion - Impact Forecasting
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NewsRisks as Taliban retakes Afghanistan
The “largest foreign policy failure since the Suez Canal crisis” will cause deterioration in security - Dragonfly
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NewsInsurer AIA posts jump in first-half new business value, raises dividend
The Asia-focused insurer’s value of new business (VONB), which measures expected profit from new premiums and is a gauge for future growth, rose by 22% to $1.81 billion in the January-to-June period.
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NewsSaudi Re posts 89% growth in H1-21 profits
Earnings per share increased to SAR 0.33 in the first half (H1) of 2021 from SAR 0.14 in H1-20, according to a bourse disclosure on Monday.
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NewsNigerian startup, Chekkit suspends operations in Afghanistan following unrest
With its blockchain technology, Chekkit has an existing partnership with blockchain partner, Fantom Foundation who made was working with the Ministry of Health in Afghanistan to help the country with its pharma product counterfeiting problem.
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NewsHaiti earthquake caused $250mn of insured losses, says KCC
However, with insurable, or economic, losses estimated at around $1.7 billion, only around 14.7% of the overall cost of the quake will be covered by insurance, KCC says, highlighting the extent of the protection gap in the country.
