News – Page 123
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NewsSwiss Re to create new fund for institutional and designated professional investors to access natural catastrophe business
With this approval, the company will manage a standalone fund company, 1863 Fund Ltd, which will allow investors a new avenue to access Swiss Re’s natural catastrophe business.
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NewsInsurer calls on government to extend trade credit insurance amid alleged ‘Topshop collapse’
An estimated £250m worth of unrecoverable invoices owed to suppliers could go unpaid
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NewsAXA to sell Gulf operations for $269 million to GIG
AXA, Europe’s second biggest insurer, has agreed to sell its insurance operations in the Gulf region to Gulf Insurance Group (GIG) for $269 million, AXA said on Monday.
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NewsVienna Insurance buys Aegon’s Central and Eastern European business
Vienna Insurance Group will buy Dutch insurer Aegon’s Central and Eastern European business for 830 million euros ($993 million), cementing Vienna’s regional lead and raising cash for Aegon to cope with the coronavirus crisis.
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NewsUK commercial properties underinsured by £325bn
Towergate also found that 14% of properties were over-insured
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NewsSPECIAL EDITION: FUTURE OF BUSINESS 'Supply chains: Spotlight on Asia'
The nature and extent of disruption to supply chains arising from major events in the past ten years reflects the growing complexity and interdependencies within supply chains in Asia Pacific. From the Thai floods and Tohoku Earthquake and Tsunami in 2011, to the Tianjin port explosion in 2015 and ...
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NewsKuwait introduces new compulsory health insurance costing KD130
Kuwait’s Health Insurance Hospitals Company (Dhaman) has announced it will be introducing a new KD 130 (Dh1.592) compulsory health insurance for two million residents working in the private sector
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NewsPelican Ventures and JC Flowers close Ariel Re deal
Private equity investors Pelican Ventures and JC Flowers & Co have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform.
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NewsJohn Neal reveals Lloyd’s of London’s ultimate goal
In a Q3 trading update, the Lloyd’s boss revealed his ultimate goal for the marketplace and why it continues to focus on performance agenda
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NewsThe future of supply chain risk management
The COVID-crisis has prompted a period of introspection as organisations question how to best structure their supply chains and manage their risk
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NewsLloyd’s Brexit transfer gets final High Court approval
Lloyd’s of London has confirmed that it has received its final approval from the High Court of England and Wales to transfer EEA policies to Lloyd’s Insurance Company SA.
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NewsAustralia Business Interruption test case raises more questions than answers for Insurers
The judgment handed down by the New South Wales Court of Appeal brings into sharp focus the potential downside risk for the industry.
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NewsKessler sees double-digit reinsurance rate rises
SCOR, one of the world’s largest reinsurers, has faced large claims due to the coronavirus pandemic as well as losses from hurricanes in the United States.
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NewsAction needed to spur British government-backed pandemic insurance, says project chair
Stephen Catlin, chairman of the Pandemic Re Steering Committee, a British industry group, said he had hoped in early June that a launch would be possible in 2021.
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News2021 to bring ecopolitical turbulence - International SOS
Employers will need to go through an evolution in their Duty of Care provisions, just as they did post 9/11
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NewsHowden buys cyber and technology-focused broker
For Howden, the purchase highlights the value that the broker sees in the “fast-growing” cyber product line, gives it an enhanced retail cyber platform and boosts its market presence in the US wholesale sector.
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NewsSaudi Re inks reinsurance contracts with Probitas, GWPs estimated at SAR 177 mln
The company added that the gross written premium (GWP) is estimated at SAR 177 million, highlighting that the contracts will have a positive impact on boosting GWP and the financial impact will be reflected from FY 2021.
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NewsHippo Insurance raises a fresh $350M
Insurtech unicorn Hippo closed a $350 million round to help it expand into more of the U.S. The money will be used to roll out in new states, helping Hippo get to its goal of reaching 95 percent of U.S. homeowners in the next year.
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NewsGerman insurers in ‘final stages’ of credit backstop extension talks
German insurers are in the final stages of negotiating a six-month extension to a COVID-19 credit insurance backstop with the German government.
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NewsBeazley boss upbeat on 2021 after COVID-19 losses
Next year could be one of Beazley’s strongest for more than a decade, the Lloyd’s of London insurer’s chief executive said on Tuesday, with the industry likely having already absorbed the bulk of its losses from the coronavirus pandemic.
