August 2, 2019
Hundreds of French farmers who signed up for specialist policies aimed at insuring against freak weather are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the country. The payments underline how …
July 31, 2019
Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …
July 10, 2019
Shares in Protector Forsikring fell 12% on Wednesday after the Norwegian insurer warned about a second-quarter loss, partly because it had lost an arbitration case related to the 2017 Grenfell Tower fire in London. It said the quarterly loss would …
July 8, 2019
Pool Re, Britain’s terrorism reinsurer, announced the placement of its new retrocession program covering non-damage business interruption (NDBI) losses. The program incepted on July 5. The Counter-Terrorism and Border Security Bill 2018, which was signed in February 2019, allows Pool …
July 1, 2019
Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims payments. Roman Buegler, head of Munich …
June 24, 2019
Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …
June 17, 2019
In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached $19 billion in inflation-adjusted …
May 17, 2019
Curv, a cloud-based institutional digital asset wallet service, has partnered with Munich Re to provide insurance protection of up to $50 million for digital assets offered through its service. Munich Re will offer an opt-in solution to Curv’s customers that …
May 16, 2019
Munich Re disclosed it will partner globally with telematics provider The Floow. The deal will help strengthen Munich Re’s telematics consulting offering but also allow The Floow’s products and services to be provided to insurance clients globally. Both companies hope …
May 8, 2019
German reinsurer Munich Re reported a 23.5 percent decrease in its first quarter net profit to €633 million ($708.6 million) from €827 million ($925.7 million) in Q1 2018. The world’s largest reinsurer blamed the profit drop on “higher basic losses …