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Hackers targeting electric and nuclear power plants: Official

Published April 17, 2015 - 5:31am CST

Gabi Siboni, director of cyber security program at Israel's Institute for National Security Studies, has said that hackers have started targeting electric and nuclear power plants around the world, The Jerusalem Post reported.

Insurers and reinsurers continue to reduce earnings targets: Survey

Published April 17, 2015 - 5:29am CST

A recent survey by A.M. Best Co. Inc. has shown that insurers and reinsurers continue to decrease their return on equity targets as they become less confident in their ability to maintain ROE levels, Artemis.bm reported.

RHB Capital likely to offload or reduce interest in insurance unit

Published April 17, 2015 - 5:26am CST

Malaysia's RHB Capital Bhd. is likely to offload or reduce interest in its insurance arm, RHB Insurance Bhd., as it undertakes major restructuring, The Star Online reported.

Terror alert issued in India

Published April 17, 2015 - 5:25am CST

Sources have said that a terror alert has been issued in India after intelligence agencies warned of a possible attack by terrorist organization Lashkar-e-Taiba, reported Xinhua.

Vietnam's helicopter service provider inks $216 million insurance contract

Published April 17, 2015 - 5:22am CST

Vietnam Helicopter Corp. has signed an insurance contract with a consortium of three insurers in the country for 2015-16, reported Tinnhanhchungkhoan.vn.

Canada fourth-most targeted country by cyber attacks: Report

Published April 17, 2015 - 5:20am CST

A recent report by Symantec Corp. has ranked Canada fourth globally for ransomware and social media scam attacks in 2014, The Vancouver Sun reported.

Insurance sector grows 20% in four years

Published April 17, 2015 - 5:17am CST

A report by Ireland-based Research and Markets Ltd. has said that Macau's insurance sector grew 20% from 2009 to 2013 in terms of gross written premiums, Macau Business Daily reported.

Pablo Crain named country manager for XL Group's Mexican insurance business

Published April 17, 2015 - 5:15am CST

Ireland-based XL Group P.L.C. has said that it has appointed Pablo Crain as country manager for its Mexican insurance business, BNamericas reported.

Axis Capital may increase bid for PartnerRe after rival enters fray

Published April 16, 2015 - 6:55am CST

Analysts at U.S.-based Keefe, Bruyette & Woods Inc. have said that Axis Capital Holdings Ltd. is likely to increase its bid for PartnerRe Ltd. after Italy's Exor S.p.A. recently launched a rival bid, reported Artemis.bm.

Bahrain's PineBridge Investments eyes setting up retakaful firm in Dubai

Published April 16, 2015 - 6:54am CST

Sources have said that Bahrain-based PineBridge Investments Middle East B.S.C. is looking to launch a new $500 million retakaful firm in U.A.E.'s Dubai city, The National reported.

Increasing tensions in Yemen worrying marine insurers

Published April 16, 2015 - 6:53am CST

The growing violence in Yemen and the Saudi-led blockade of the country's ports have been a matter of concern for marine insurers, IHS Maritime 360 reported.

Flood damage likely to increase 200% in Europe by century-end: Scientists

Published April 16, 2015 - 6:51am CST

Scientists from the European Commission's Joint Research Centre have said that flood damages across Europe is likely to increase by an average of 200% by the end of the century, Carbon Brief‎ reported.

Singaporean insurers likely to benefit from Asean Economic Community

Published April 16, 2015 - 6:49am CST

Insurers in Singapore could expect more gains from the Asean Economic Community that will come into effect at the end of 2015, AsiaOne reported citing The Straits Times.

Christchurch council set to take insurer to court over claim dispute

Published April 16, 2015 - 6:47am CST

The Christchurch City Council in New Zealand is set to take Civic Assurance to court over a claim worth almost $1 billion New Zealand ($759 million), Radio New Zealand reported.

No major effect on insurers from recent floods: Fitch

Published April 16, 2015 - 6:45am CST

Fitch Ratings Ltd. has said that the recent floods that hit Chile would not have a huge effect on the country's property/casualty insurers, BNamericas reported.

Foreign players allowed to establish insurers without prerequisites

Published April 16, 2015 - 6:42am CST

A ministerial decision has said that foreign insurers operating in Kuwait need not meet the requirements for setting up insurers and reinsurers in the country, reports Asia Insurance Review citing Argaam.com.

Indian aviation firms' insurance cost may rise if pilots' psychiatric test mandated

Published April 16, 2015 - 6:41am CST

Insurance costs for Indian aviation firms might increase if the country's Directorate General of Civil Aviation requires psychiatric testing of pilots before takeoff, reported Stockindex.in citing The Economic Times.

Jonathan Evans named non-executive chair of Allied World's Lloyd's managing agency

Published April 16, 2015 - 6:35am CST

Switzerland-based Allied World Assurance Co. Holdings A.G. has announced the appointment of Jonathan Evans to its board of directors, Bernews reported.

Cyber criminals target 5 of every 6 large firms

Published April 15, 2015 - 5:46am CST

A report by Symantec Corp. has said that cyber criminals targeted five out of six large firms globally in 2014, reported The Telegraph.

Reinsurance trends positive and negative for insurers: Moody's

Published April 15, 2015 - 5:44am CST

Analysts at Moody's Investor's Service Inc. have said that the current reinsurance market trends are both positive and negative for insurers, Artemis.bm reported.

Reinsurer IRB's net income totals $41.6 million in Q1

Published April 15, 2015 - 5:42am CST

Brazilian reinsurer IRB Brasil Resseguros S.A. said that its net income totaled 130 million Brazilian reals ($41.6 million) in the first quarter of 2015, reported BNamericas.

Insurer to meet Lloyd's to discuss reinsurance for sunken ferry

Published April 15, 2015 - 5:40am CST

South Korea's Samsung Fire & Marine Insurance Co. Ltd., Korean Reinsurance Co. and Korea Shipping Association are to hold talks with Lloyd's of London about reinsurance claims linked to a ferry that sank in April 2014, reported Asia Insurance Review citing The Korea Times.

Insurance volume in Saudi Arabia growing: Report

Published April 15, 2015 - 5:38am CST

Subscribed insurance premiums in Saudi Arabia amounted to 111.8 billion Saudi riyals ($29.80 billion) in the past five years, reports Arab News citing Al-Eqtisadiah newspaper.

El Nino may develop by June: Australian bureau

Published April 15, 2015 - 5:36am CST

Australia's Bureau of Meteorology has upgraded its outlook for El Nino from watch to alert and said that the pattern might develop by June, Bloomberg reports.

Asiana Airlines aircraft damaged skidding off runway in Japan

Published April 15, 2015 - 5:33am CST

Japan's transport ministry has said that a plane belonging to South Korea's Asiana Airlines Inc. skidded off the runway while landing at the country's Hiroshima Airport, reported WCVB.com.

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