A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021. The global life insurance industry was …
FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing Monday with the U.S. Securities and Exchange Commission …
Swiss Re announced the appointment of Pravina Ladva as group chief digital & technology officer and member of the group executive committee, effective Jan. 1, 2022. Group Chief Operating Officer Anette Bronder will leave the company, and group operations will …
Extreme weather events in 2021, including a deep winter freeze, floods, severe thunderstorms, heatwaves and a major hurricane, resulted in estimated annual insured losses from natural catastrophes of US$105 billion, the fourth highest since 1970, according to Swiss Re Institute’s …
Billionaire Richard Li’s FWD Group Ltd. raised more than $1.4 billion in private placements with investors including an insurer backed by Apollo Global Management Inc. The investors include Apollo’s Athene Holding Ltd., Canada Pension Plan Investment Board, Siam Commercial Bank …
Litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States, Swiss Re said in a recent report. The reinsurer said third-party litigation funding (TPLF) is increasing the number of “outsize” …
Swiss Re announced it has agreed to sell its life insurance subsidiary Elips Life AG (elipsLife) to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife’s in-force and new business. Financial details of the transaction were …
FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The …
Swiss Re and Chinese tech giant Baidu are teaming up to further develop the autonomous driving industry, announced Swiss Re. The partnership between Swiss Re and Baidu aims to further develop the autonomous driving industry by advancing risk management research …
TORONTO – Insurer Definity Financial Corp jumped as much as 36% on its stock market debut on Thursday after raising C$2.1 billion ($1.6 billion) in Canada’s second-largest IPO. Waterloo, Ontario-based Definity priced its IPO at C$22.00 per share, the top …
