News – Page 98
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NewsAriel Re announced that it has sponsored its first 144A index-triggered catastrophe bond
Titania Re will provide USD 150 million of multi-year collateralised reinsurance cover to Ariel Re using an indexed industry loss trigger, protecting against North American named storms and earthquakes.
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NewsGenerali expands presence in Malaysia via Axa deal
The deals will turn Generali into the second-biggest player in Malaysia’s Property and Casualty (P&C) insurance market while also allowing the company to enter the local life insurance sector, it said on Tuesday.
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NewsTornado sweeps through suburban Chicago, causing damage
A tornado swept through communities in heavily populated suburban Chicago, damaging more than 100 homes, toppling trees, knocking out power and causing multiple injuries, officials said.
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NewsWork from home drives greater cyber attack volumes
Close to 80 percent of organisations experienced cyberattacks due to more employees working remotely
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NewsAIR updates US terrorism model
New version more comprehensively models the extent of damage from conventional bomb blast attacks
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NewsSuez Canal Authority claim hearing potentially adjourned after ‘long and arduous’ negotiations
UK P&I Club, the protection and indemnity insurer for cargo ship Ever Given, which ran around in Egypt’s Suez Canal in March, confirmed yesterday (20 June 2021) its desire to adjourn the state-owned Suez Canal Authority’s clams hearing following “long and arduous” negotiations.
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NewsCFC Syndicate 1988 starts trading
Cyber-focused MGA CFC Underwriting has confirmed that its Lloyd’s of London syndicate - CFC Syndicate 1988 – has incepted and begun trading today
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NewsAviva partners with WWF on industry action plan to achieve net zero targets
Amanda Blanc says the collaboration will ’ensure the financial sector gets its act together’ around working towards net zero
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NewsAon-WTW merger allows for ‘combination of complementary solutions’ – GlobalData
Contradicting the lawsuit issued by the US Department of Justice this week, broker Aon’s takeover of Willis Towers Watson (WTW) would instead “allow for a combination of complementary solutions, capabilities and skill sets that would better assist consumers”, said data and analytics company GlobalData.
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NewsLloyd’s of London secures £650m five-year cover for Central Fund
Lloyd’s of London has revealed it has secured a landmark £650m cover for the Central Fund for a five-year period supporting sustainable, profitable long-term market growth.
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NewsAon and Willis Towers Watson Issue Statement on U.S. Department of Justice Action
“We disagree with the U.S. Department of Justice’s action, which reflects a lack of understanding of our business, the clients we serve and the marketplaces in which we operate.”
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NewsU.S. sues to stop Aon’s purchase of Willis Towers Watson
The U.S. Justice Department filed a lawsuit on Wednesday aimed at stopping insurance broker Aon’s (AON.N) $30 billion acquisition of Willis Towers Watson because it would reduce competition and could lead to higher prices.
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NewsFlock partners with Asia’s largest insurer to reinvent commercial fleet insurance
Insurtech Flock has partnered with the European arm of Asia’s largest insurer, Aioi Nissay Dowa Insurance (AND-E UK), to transform how commercial fleet insurance is priced and distributed.
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People & OpinionSSP names new chief executive
SSP has named Colin Greenhill as its new chief executive.
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NewsCOVID erodes macroeconomic resilience - Swiss Re
Insurance resilience is lowest for natural catastrophes, with the protection gap growing to a record $1.4 trillion
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NewsLaw firm advises Howden Group amid Parhelion launch
International law firm RPC has advised Howden Group on the launch of Parhelion – the world’s first fully sustainable insurer.
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NewsAlexander Forbes open for deals after insurance sale to Sanlam
The South African retirement and investment adviser is boosting its surplus capital and selling its risk and retail business operations - which had insurance premium income of R1 billion at the end of March - to Sanlam.
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NewsAon brand replaces Anviti in India
Aon today announced that it will operate its insurance and reinsurance broking business under the Aon brand name in India effective immediately.
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AIRInsurers have paid more than £750m in interim and final BI payments to date
Since the Supreme Court’s January decision in the FCA’s test case around Covid-19-related business interruption (BI) claims, a total of £756,846,662 has been paid out by insurers for either interim or final BI claims payments across 20,347 claims, according to updated data published by the FCA yesterday (14 June 2021).
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NewsBest’s Market Segment Report: Hardening market and regulatory developments in the GCC drive interest in Captive Insurers
A wider gamut of companies is now investigating self-insurance solutions in response to hardening rates in the international commercial insurance and reinsurance markets. Additionally, companies in the region are becoming increasingly sophisticated in their risk management.
