Published April 29, 2016 - 5:35am CST
The results from a series of stress tests for 26 U.K.-based general insurers conducted by the Bank of England's Prudential Regulation Authority have highlighted the importance of diversified reinsurance capital to these insurers, reports Artemis.bm.
Published April 29, 2016 - 5:33am CST
Experts have warned of a double-whammy of possible flooding from La Nina in Asia, which is already reeling from drought and other disasters due to El Nino, reports The Times of India citing Agence France-Presse.
Published April 29, 2016 - 5:31am CST
Slovakia-based software security firm ESET, spol. s r.o. has said that ransomware constituted about a quarter of cyber attacks targeted at U.K.-based computer users between April 19 and 26 April, reports V3.co.uk. ESET attributed the increase to a malicious code called JS/Danger.ScriptAttachment, which tries to download and install various malware and execute crypto-ransomware.
Published April 29, 2016 - 5:30am CST
The General Statistics Office of Vietnam has said that drought and saline water intrusion have cost the nation almost 6.4 trillion Vietnamese dong ($286 million) in the first four months of 2016, reported Xinhua.
Published April 29, 2016 - 5:28am CST
The London P&I Club has warned vessels about the risk of shipping Indonesian thermal or steam coal following a number of recent accidents, reported World Maritime News.
Published April 29, 2016 - 5:27am CST
Singapore Reinsurance Corp. Ltd. said in its annual report that it had received approval to establish a retakaful window under its Labuan branch from the Labuan Financial Services Authority in Malaysia in the second half of 2015, reported Asia Insurance Review.
Published April 29, 2016 - 5:26am CST
Currency fluctuations have hit Bermuda-based insurer and reinsurer Arch Capital Group Ltd.'s net income in the first quarter of 2016, reported The Royal Gazette.
Published April 29, 2016 - 5:25am CST
India's new crop insurance scheme – Pradhan Mantri Fasal Bima Yojana – may soon provide insurance cover for farmers in the event of crop damage due to elephant raids and migration, reported Daily News & Analysis.
Published April 29, 2016 - 5:24am CST
The Insurance Regulatory and Development Authority of India has asked insurers to avoid entering into common reinsurance arrangements on global basis with foreign entities when they lack input into the pacts, reports Business Standard citing the Press Trust of India.
Published April 28, 2016 - 5:31am CST
Clement Ma, an official at S&P Global Market Intelligence, has said at a recent conference that Asia will be a key player in both inbound and outbound mergers and acquisition deals in the insurance sector, reports Asia Insurance Review.
Published April 28, 2016 - 5:30am CST
Data by the government of Japan's Kumamoto Prefecture has shown that the recent earthquakes that struck the country caused 23.6 billion Japanese yen ($212 million) in damage to the prefecture's agriculture and forestry sectors, reports The Asahi Shimbun.
Published April 28, 2016 - 5:29am CST
Steven Braekeveldt, an official at Belgium-based insurer Ageas S.A., has said that the insurer is looking at new acquisitions in Portugal after recently completing the takeover of Axa S.A.'s Portuguese units, Porto Canal reports.
Published April 28, 2016 - 5:28am CST
U.S.-based Bank of New York Mellon Corp. has said in a report that insurance-linked securities market and London as an ILS market hub can help the nascent cyber risk insurance line to grow and flourish, reports Artemis.bm.
Published April 28, 2016 - 5:25am CST
The International Maritime Bureau has said that while the number of pirate attacks continued to decrease globally in the first quarter of 2016, violence against vessels in West Africa is on the rise, reported Seatrade Maritime.
Published April 28, 2016 - 5:24am CST
Zurich Insurance Group A.G. is set to move into the takaful sector after the acquisition of Malaysia's MAA Takaful Bhd., reported Reuters.
Published April 28, 2016 - 5:23am CST
Qatar National Bank S.A.Q.'s servers have been reportedly hacked, reported HackRead.
Published April 28, 2016 - 5:22am CST
Taiwan has been hit by two strong earthquakes and the tremors were felt across the country, reported Gulf News.
Published April 28, 2016 - 5:20am CST
India's Union Cabinet has approved a memorandum of understanding to enhance cooperation between India's and U.A.E.'s insurance regulators, reported Business Standard citing IANS.
Published April 27, 2016 - 5:42am CST
The recent earthquakes that hit Japan's Kumamoto Prefecture are likely to result in the second highest property insurance payout total for any natural disaster in the country, reported Asia Insurance Review citing The Nikkei.
Published April 27, 2016 - 5:41am CST
A survey by U.S.-based Depository Trust & Clearing Corp. has found that 25% of global financial services firms cited cyber risk as the single biggest threat and 56% ranked it among their top five risks, reports Automated Trader.
Published April 27, 2016 - 5:40am CST
The China Insurance Regulatory Commission has said that premium revenues of Chinese insurers increased 42.18% year on year to a record 1.19 trillion Chinese yuan ($183 billion) in the first quarter of 2016, reports China Daily.
Published April 27, 2016 - 5:37am CST
Piracy and armed robbery incidents are increasing at an alarming rate in the Gulf of Guinea, warned the United States, pointing to reports of at least 32 attacks off the Nigerian coast Nigeria alone so far in 2016, reported The Associated Press.
Published April 27, 2016 - 5:35am CST
Risk management and reinsurance industry experts said that the entire risk transfer landscape must increase its efforts and capitalize on the opportunity to improve resilience against climate change risks, reports Artemis.bm.
Published April 27, 2016 - 5:33am CST
Ping An Insurance Group Co. of China Ltd.'s net profit increased about 4% year on year to 23.4 billion Chinese yuan ($3.6 billion) in the first quarter of 2016, reported Reuters.
Published April 27, 2016 - 5:30am CST
Jamaica's National Works Agency has put a preliminary estimate of the damage from floods in the country's Portland region at $64 million Jamaican ($523,860), reported Jamaica Gleaner.