The terrorism protection gap is now larger than ever and expanding all the time, underlining the need for innovative and effective solutions, with the insurance-linked securities (ILS) space a logical evolution, says Pool Re chief executive officer (CEO), Julian Enoizi. Enoizi addressed an audience in London recently at an ILS industry...
Having lagged behind their financial services peers in adopting digital technologies due to regulations, reluctance and cost, a survey by Willis Towers Watson in conjunction with Mergermarket finds an increasing number of insurers now regard investment in digitalisation a priority. Findings from the survey shows that almost three-quarters of insurers...
The reinsurance units of Munich Health will be merged with Munich Re’s Life division, and the primary health insurance business will be transferred to ERGO International. This reorganisation will also release cost synergies, and allow for a reduction in the size of the Board of Management. Despite a few individual...
The UK financial regulator is looking to crack down on domestic and international pension transfers in a move that could give added protection to British investors in the UAE. The Financial Conduct Authority (FCA) has issued an alert over the growing number of investors at risk of having their pension...
A quarter of insurance and reinsurance companies say that they will use the capital markets to an increasing degree in 2017, according to data from a survey of 107 re/insurance professionals undertaken by Guy Carpenter. The capital markets are an increasingly prevalent part of most insurers or reinsurers capital towers,...
Total economic losses from natural catastrophes and man-made disasters in 2016 are estimated to be USD158 billion in 2016, according to figures released by Swiss Re. This is significantly higher than the USD94 billion losses in 2015, caused by large natural catastrophes, such as earthquakes and floods, according to preliminary...
A staggering number of businesses have suffered from poor cybersecurity, according to the CEO of the world’s oldest insurance market. Recent Lloyd’s of London data revealed that 92 percent of businesses asked had experienced a breach, Inga Beale, CEO of Lloyd’s, told CNBC. “Apart from businesses in the US, there...
Allianz lowered the 2017 yields on its life insurance savings policies recently, cutting the return on its traditional product to 3.4 percent from 3.7 percent. Many life insurers are struggling to meet guaranteed long-term returns as high as four percent as pressure from rock-bottom interest rates cuts investment income required...
A new international network of insurance regulators and supervisors has been launched to promote cooperation on critical sustainable insurance challenges, such as climate change. Held in San Francisco, the first meeting of the Sustainable Insurance Forum included insurance supervisors and regulators from Brazil, California, France, Ghana, Jamaica, Morocco, the Netherlands,...
Generali is looking to raise at least EUR1 billion (USD1.06 billion) by selling businesses in unattractive markets and is to cut costs in an effort to boost profit and capital. Reiterating 2018 targets on Wednesday, Generali said it is reviewing its presence in 13-15 countries and aims to cut operating costs...
