Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-based Swiss …
The World Economic Forum is bringing insurers, tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars, it said on Thursday. Tech firms have moved fast to develop new products, …
Japan’s MS&AD Insurance Group Holdings Inc said on Friday it had agreed with Swiss Re AG to invest 800 million pounds ($1.05 billion) to take a stake of up to 15 percent in UK-based ReAssure Jersey One Ltd. MS&AD and …
The Blockchain Insurance Industry Initiative B3i announced it has expanded with 23 new brokers and re/insurers entrants, which will help with B3i’s upcoming market testing program. B3i’s new entrants are: AIA, AIG, Aon, Chubb, Covéa, Everest Re, Gen Re, Guy …
General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world’s fastest-growing reinsurance market. The unit plans to expand in health and …
A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. …
Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
Global insured losses from natural catastrophes and man-made disasters in the first half of 2017 totaled US$23 billion, while economic losses during the same period came to US$44 billion – an indication of the extent of the protection gap that …
The four largest European reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – have largely maintained pricing and policy terms without a significant drop in their business volumes, despite relentless soft market conditions, according to Fitch Ratings. Fitch …
