All News articles – Page 149
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NewsPeak Re first HK based reinsurer to issue public hybrid securities
Peak Re has announced that its wholly-owned subsidiary Peak Re (BVI) Holding Limited, has successfully completed the issuance of USD250 million of perpetual subordinated guaranteed capital securities (the “Securities” or the “Transaction”) at 5.35 per cent. The Securities are rated Baa2 (hyb) by Moody’s, and unconditionally and irrevocably guaranteed by ...
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People & OpinionJohan Slabbert succeeds Tom Clementi as Chief Executive Officer of MS Amlin Underwriting
MS Amlin Underwriting has announced the appointment of Johan Slabbert as Chief Executive Officer (CEO). Slabbert will take up the role on 01 November 2020, subject to regulatory approval. Slabbert succeeds Tom Clementi, who will step down from his position as CEO on 31 October 2020 after 4 years in ...
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NewsAxis Capital Reports Third Quarter 2020 Results
”This was a quarter in which the world and our industry were impacted by exceptional levels of cat loss activity.” Albert Benchimol, President and CEO of AXIS Capital
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NewsSwiss Re puts pioneering data and analytics platform at the service of global health and joins The Trinity Challenge
Swiss Re is joining The Trinity Challenge, a global coalition that aims to better predict and prevent outbreaks, epidemics and pandemics by harnessing the power of data and analytics. Swiss Re has integrated COVID-19 related health, economic and social data in one unique platform: the Risk Resilience Center. As a ...
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NewsHurricane Zeta on course to strike New Orleans
(Bloomberg) — Hurricane Zeta is strengthening as it spins across the Gulf of Mexico, threatening to slam into New Orleans Wednesday (Oct. 28) evening as a Category 2 storm capable of uprooting trees and causing massive power outages.
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NewsRecord-breaking InsurTech fundraising in Q3 2020, as ‘funding gap’ widens
Solid investor appetite for new and mature opportunities in the InsurTech sector was again in evidence during Q3 2020, as US$2.5 billion was raised by InsurTech firms across 104 deals, up 63% and 41% respectively over the prior quarter. Deals included two US$500 million rounds, but the mid-tier funding gap ...
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NewsQatar Insurance Company (QIC) has seen its gross written premiums grow by 4%
The leading insurer in the Middle East North African (MENA) region announced its financial results for the first nine months of this year, following a meeting presided over by Sheikh Khalid bin Mohamed bin Ali al-Thani, QIC chairman and managing director.
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NewsRenaissanceRe Holdings reports significant YOY increase in its profitability for the third quarter of 2020
RenaissanceRe today reported net income available to RenaissanceRe common shareholders of $47.8 million, or $0.94 per diluted common share, in the third quarter of 2020, compared to $36.7 million, or $0.83 per diluted common share, in the third quarter of 2019. Operating loss attributable to RenaissanceRe common shareholders was $131.7 ...
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NewsAM Best awards PCA rating of A to Group Ark Insurance
The PCAs reflect Ark’s consolidated balance sheet strength, which AM Best categorises as very strong, and its adequate operating performance, neutral business profile and appropriate enterprise risk management. The assessment is based on the group’s five-year business plan.
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NewsMarsh Commercial to administer new Government Film and TV Production Restart Scheme
Marsh Commercial is to administer the UK Government’s new £500 million scheme to kick-start film and television productions struggling to get COVID-19 related insurance. The Film and TV Production Restart Scheme, led by the Department of Digital, Culture, Media and Sport (DCMS) and Her Majesty’s Treasury (HM Treasury), will help ...
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NewsCar insurance startup Root raises $724.4 million in IPO
Shares in Root are due to begin trading on the Nasdaq today, 28 October 2020, under the symbol “ROOT.”
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NewsMercedes bets on evolution as Tesla touts revolution in automated driving
The Germans, pioneers in developing advanced driver assistance systems (ADAS), are taking a step-by-step approach to releasing new technology, waiting for their own engineers, rather than the general public, to validate their system.
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NewsAIG shares soar on plans to carve out general insurance from life
AIG’s executive management and Board believe a simplified corporate structure will unlock significant value for shareholders and other stakeholders.
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NewsStarr’s Marine Division launches terminal management system loss control programme
The TMS programme, developed in conjunction with industry experts, is a proprietary tool created to measure terminal operations against industry best practices
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NewsSlice Labs and AXIS Insurance collaborate to bring home based business insurance to small businesses
Slice labs has created an alliance with AXIS Insurance to distribute AXIS Home Based Business insurance to help protect small businesses. Home-based businesses comprise more than 50% of all small businesses in the United States. Traditional homeowners’ insurance policies are not designed to cover commercial claims, leaving home-based ...
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NewsSCOR marks Breast Cancer Awareness Month with a focus on providing Inclusive Insurance options for survivors
Following treatment and cure, returning to ‘normal life’ is one challenge for breast cancer survivors where insurance coverage can play a major role.
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NewsTokio Marine Holdings announces strategic partnership with Lemonade
Tokio Marine Holdings lnc. announces participation to the reinsurance programme of Lemonade, as of 7/1/2020, as the first step in a collaboration with Lemonade to explore strategic partnership. Tokio Marine Group has been endeavouring to create new and comfortable customer touch points and to enhance operational efficiency, by leveraging on ...
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News‘SIRC 2020 Re-Mind’ – enthusiastic support for the first-ever (re)insurance industry virtual event!
Heading the distinguished panel of speakers assembled for this virtual event is Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat who will deliver the Official Keynote Address and announce the launch of the Global-Asia Insurance Partnership (GAIP), a new global centre of ...
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NewsLloyd’s to increase London Market BAME representation in long-term plan
A study from Lloyd’s found that 70% of black respondents saw their visual diversity as a barrier to promotion
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NewsCEOs call single-digit ROEs for reinsurers ‘crazy,’ ‘not acceptable’
A primary personal lines insurer may find a 7% to 9% return “perfectly reasonable,” but reinsurers “take the rump end of the exposures,” Young said. “We get all of the volatility.” As a result, reinsurers need to push for higher returns.
