November 29, 2017
Munich Re’s ERGO unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low. “In ERGO’s view, the current value of the portfolios and its potential appreciation is not adequately reflected …
November 16, 2017
Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …
November 13, 2017
After one of the worst Atlantic hurricane seasons in history, the world’s biggest insurers say the industry needs to get its act together if it wants to survive climate change. Insuring against weather natural disasters could reach unaffordable levels for …
November 9, 2017
Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that magnitude would exceed by far …
October 26, 2017
Munich Re expects claims of €2.7 billion ($3.2 billion) from Hurricanes Harvey, Irma and Maria, which will lead to a third quarter loss of €1.4 billion. The group said it expects a small profit for the full year, as long …
October 20, 2017
As global attention focused on hurricanes Harvey and Irma, more than 41 million people across South Asia battled floods and displacement. From Afghanistan in the west to Bangladesh in the east, floods could cost South Asia — home to a …
October 18, 2017
Hyperloop Transportation Technologies wants to build a tube-based inter and intra-city transportation system to transport passengers and cargo at high speeds. As part of its efforts to gain support, it sought to assure people that its technology is feasible. The …
October 17, 2017
Beazley and Munich Re, through their Vector partnership, have reported strong demand for “holistic cover” to protect against cyber attacks and resulting business interruption and supply chain risks. Vector was established in 2015 to offer tailor-made expertise and capacity for …
October 11, 2017
KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family. Andrew Cranston, a partner and former …
October 4, 2017
The African arm of Germany’s Munich Re has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma. KMPG sacked its South African …