Leading industry practitioners explored an expansive range of topics under the overarching theme of disruption at the Reinsurance Symposium in Baden Baden this year. The main theme of the event was ‘Profiting from Disruption’ with tangents including the primary disruptive drivers impacting the insurance market, how the industry must transform...
Lloyds Banking Group has agreed to buy Zurich Insurance’s UK workplace pensions and savings business as it expands its retirement business, the bank said recently. Life insurers and asset managers in Britain have been refocusing their businesses to capitalise on rule changes giving pensioners more freedom on how to spend...
Munich Re is working on ways to insure the new high-speed capsule transportation system called Hyperloop. The reinsurer and California-based Hyperloop Transportation Technologies (HTT) have entered into a partnership to develop the insurance, which would allow HTT to manage risk. Munich Re said recently that hyperloop technology developed by HTT...
Compulsory health insurance premiums are set to rise again in 2018, the government has announced in Switzerland. The average four percent increase applies to what is known as the basic or standard premium, the compulsory health care premium for adults aged over 18, communicated the government recently. The basic premium entitles...
Chubb has said Paris was a “clear choice” for its new EU headquarters after Brexit, owing to a significantly large operation in the city. “We have a significant investment there in both financial and human resources, as well as a large portfolio of commercial and consumer insurance business throughout France,”...
Generali is open to selling its EUR40 billion (USD47 billion) German life insurance portfolio to free up capital to accelerate growth in its second-biggest market, the company said. Generali has stated that it would be gradually winding down its Generali Leben life business from the first quarter next year in...
The magnitude 7.1 earthquake that hit Mexico in September 2017 is estimated to have caused as much as USD4.8 billion of losses to insurance and reinsurance interests. Risk modellers estimate diverge considerably though, with AIR Worldwide putting the industry loss at up to USD2.1 billion, RMS saying the re/insurance industry...
Lloyd’s of London reported a 16 percent fall in half-year pre-tax profit recenlty, and is set to face further challenges in 2017, given the fact that it is still yet to finalise the impact of hurricanes Harvey and Irma. The unlisted company, which forms the world’s largest specialist insurance market,...
Alliance Health Group has recently announced the continuation of their relationship with VitalityHealth, a deal that will extend their affiliation, lasting more than six years. The association between the two companies began in 2011, when Alliance Health Group became the sole provider of Vitality’s consultant panel and the stability of...
RIMS, the risk management society , announces its support for the recent revision of The Committee of Sponsoring Organisation of the Treadway Commission (COSO) Enterprise Risk Management Framework: Enterprise Risk Management-Integrating with Strategy and Performance. The new publication serves as an update to its 2004 Enterprise Risk Management – Integrated...
