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The fact that such a small proportion of risk globally is covered by the re/insurance industry represents a “serious market failure”, James Vickers, chairman of Willis Re International, claimed at a press conference in Monte Carlo yesterday. 14 September 2015
Insurance
The Loch Ness Monster, flying frozen duck carcasses and Bigfoot are among some of the strangest risks ever underwritten, according to respondents in a recent Intelligent Insurer survey, held in the run-up to the Monte Carlo Rendez-Vous. 14 September 2015
News
Indian reinsurer GIC Re will seek growth by extending its reach to the US and Latin American markets, while working on an initiative with the Indian government to create a natural catastrophe pool in India. 14 September 2015
Insurance
Aon Benfield, the reinsurance intermediary of Aon, has partnered with catastrophe modelling firm RMS to develop a marine and energy catastrophe model. 14 September 2015
News
K Sanath Kumar, acting chairman and managing director, GIC Re, describes the Indian Government’s social insurance schemes and the country’s fast-growing economy. 13 September 2015
Insurance
Antares and Qatar Insurance Group, the company’s new owner, will re-examine their approach to buying reinsurance buying in an attempt to manage its exposures more efficiently, Richard Anson, head of ceded reinsurance, Antares, told Monte Carlo Today. 13 September 2015
Insurance
Re/insurers demonstrated their ability to continue to underwrite risks and pay claims in a timely and professional manner despite the most recent convulsions in the global economy—and this will continue. That is the opinion of Robert Hartwig, president and economist, Insurance Information Institute (III), who said that the economic and financial market instability during the summer of 2015 again demonstrated the resilience of the industry. 13 September 2015
Insurance
Fitch Ratings has placed Amlin’s long-term issuer default rating (IDR) of 'A-' on RatingWatch Negative (RWN). Amlin's main operating entities' insurer financial strength (IFS) ratings of 'A+' have also been placed on RWN. 10 September 2015
Insurance
The Tianjin explosions that occurred in August should serve as a warning to the re/insurers, according to Gen Re. 9 September 2015
Insurance
Property and casualty insurer, Berkshire Hathaway Specialty Insurance Company, has entered the marine market in Australia and New Zealand. 9 September 2015
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