Here’s your daily Reinsurance News for Thursday 29th December 2016:
IRDAI gives R3 approval to SCOR
Insurer and reinsurer SCOR has received R3 approval from the IRDAI to establish a branch in India to conduct Life and P&C reinsurance business.
China Re approves Zhang Hong retirement & He Chunlei candidacy
China Reinsurance Group has approved the retirement of Zhang Hong as President, and also approved the nomination of He Chunlei as executive director candidate.
Opportunity for reinsurers to assist Southeast Asian insurer development: A.M. Best
Global ratings agency A.M. Best has underlined the opportunity for smaller to medium-sized reinsurers to assist with the development of insurers across Southeast Asia.
Allied World launches catastrophe insurance scheme
The Islamic Window of Allied Insurance Company, Ayadi Takaful, and Disaster Management, have developed a new catastrophe insurance scheme that covers property damages following disasters.
Swiss Re highlights flood protection gap
Reinsurance giant Swiss Re has highlighted in a new report the large flood protection gap, underlining the need for greater insurance penetration utilising new models.
Gator Re investors face loss as claims exceed attachment point
Investors face a loss after qualifying reported claims covered by the Gator Re Ltd. catastrophe bond transaction have now passed the attachment point, according to reports.
Colombia insurance sector profit hits $501 million in 2016
The Insurance Association Fasecolda of Colombia has said that the country’s insurance sector reported a net income of roughly $501 million in the first ten months of 2016, an increase of 16% of the previous year.
ILS NYC 2017 conference – Feb 3rd, New York
A thoughtfully curated annual insurance-linked securities event in New York City from Artemis. Featuring ILS & reinsurance industry leaders speaking on forward-thinking, engaging topics.
R&Q completes novation from the Coca-Cola Bottlers’ Association
Randall & Quilter Investment Holdings Ltd. has announced the completion of novation from the Coca-Cola Bottlers’ Association.
Cybercrime costs a reported $445 billion a year
Reports from New Zealand claim that cybercrime costs a reported $445 billion a year, underlining the need for adequate insurance solutions.
Australian insurers hike premiums after series of fires
Insurers in Australia a reportedly increasing premiums or are refusing to cover harvesters in response to a number of fires in the region, according to the Australian Custom Harvesters Inc. trade group.
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