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Brazil: Insurer SulAmerica mulls sale of its risk portfolio

Published October 24, 2014 - 5:33am CST

Brazil's SulAmerica S.A. is planning to sell its risk insurance portfolio, BNamericas reports citing local news agency Agencia Estado. The insurer has hired Banco Itau BBA S.A. to handle the deal.

Cat bond and ILS pricing to remain stable: Munich Re

Published October 24, 2014 - 5:31am CST

Munich Reinsurance Co. has said that it expects catastrophe bond and insurance-linked securities pricing to continue stay even with 2013 levels, Artemis.bm reports.

Nigeria: Power, agriculture sector reforms likely to generate insurance opportunities

Published October 24, 2014 - 5:29am CST

Analysts have said that the continuing reforms in Nigeria's agriculture and power sector would provide opportunities for the country's insurance industry, BusinessDay reported.

Faulty Takata air bags prompt Nissan to recall 260,000 more vehicles

Published October 24, 2014 - 5:28am CST

Japan-based Nissan Motor Co. Ltd. has said that it would recall an additional 260,000 vehicles globally, with 104,900 of them in Japan, over faulty air bags, reports Xinhua.

Slovenia: Losses from rainstorms in Poljanska dolina valley pegged at $38 million

Published October 24, 2014 - 5:26am CST

Two days of continuous rains and resulting flash floods have caused heavy damage to properties in central Slovenia, Xinhua reports citing Slovenian Press Agency.

Germany: Gas pipeline blast in Ludwigshafen kills one, damages 25 buildings

Published October 24, 2014 - 5:22am CST

A gas pipeline explosion rocked the German city of Ludwigshafen leaving around 11 people injured and one dead.

Russia: Inadequate liquidity in insurers' assets, central bank says

Published October 24, 2014 - 5:20am CST

The Bank of Russia has said that several insurers have inadequate liquidity in their assets, Forinsurer reports.

Vietnam: Insurers compensate several businesses hit by May riots

Published October 24, 2014 - 5:18am CST

Many Vietnamese businesses hit by workers' riots in May in the country's Dong Nai province have received a payout of almost 116 billion Vietnamese dong ($5.8 million) from insurers, reports Xinhua citing Vietnam News Agency.

India: Claims from cyclone, floods could reach nearly $1 billion

Published October 23, 2014 - 5:43am CST

Indian general insurers' profits for fiscal year 2015 are likely to be hit by the damage from the recent cyclone Hudhud and the Jammu and Kashmir floods, The Hindu Business Line reports.

European insurers losing billions to fraud because of outdated methods: SAS

Published October 23, 2014 - 5:41am CST

SAS Institute Inc. has said that European insurers are probably losing billions of dollars annually from fraud because of outdated fraud detection methods, and the gap between detected and actual fraud is widening, Computerworld UK reported.

Mexican insurance sector's growth expected to reach 5-7% in 2014: Fitch

Published October 23, 2014 - 5:39am CST

Fitch Ratings Ltd. has predicted that the Mexican insurance sector’s premiums will grow around 5% to 7% this year, a bit slower than in 2013, Elfinanciero.com.mx reported.

Heavy downpour causes massive destruction in Canary Islands

Published October 23, 2014 - 5:36am CST

Heavy rains hit the Tenerife and Santa Cruz regions of Canary Islands resulting in widespread damage, The Weather Network reported.

Indonesia: Mount Sinabung expected to continue erupting for long time

Published October 23, 2014 - 5:34am CST

An increase in seismic activity has been recorded at Mount Sinabung in North Sumatra, Indonesia, and an observation group said eruptions at the volcano are expected to continue for a long time, The Jakarta Post reports.

U.K.: Ban on pesticides could cost food supply chain $4 billion per year, report says

Published October 23, 2014 - 5:33am CST

A report published by The Andersons Centre has said that the present European Union policy of banning some pesticides could cut into the U.K. agricultural industry's profits, Farmers Guardian reports.

Earthquake at Colombia-Ecuador border triggers fears of volcanic eruptions

Published October 23, 2014 - 5:31am CST

A 5.6-magnitude earthquake that recently hit the Colombia-Ecuador border region has triggered fears of eruptions at two volcanoes – Cerro Negro and Chiles – reported Colombia Reports.

Indonesia: New insurance law won’t dent M&As with foreign insurers, Fitch says

Published October 23, 2014 - 5:29am CST

Fitch Ratings Ltd. has said that Indonesia's new insurance law is not expected to dissuade mergers and acquisitions involving foreign insurers, The Jakarta Post reported.

Brazil: Medicine factory blast injures 26

Published October 23, 2014 - 6:00am CST

A blast at a medicine factory in Minas Gerais, Brazil, has injured around 26 people, Fox News Latino reports.

Germany: Storm damage in Bavaria pegged at up to $1.3 million

Published October 23, 2014 - 6:00am CST

Powerful storms have caused damage worth up to €1 million ($1.3 million) in Germany's Bavaria state, Xinhua reports.

Munich Re, Ace among those best prepared to handle climate change risks: Ceres

Published October 22, 2014 - 6:18am CST

U.S.-based advocacy group Ceres has said that Munich Reinsurance Co. and Ace Ltd. are among the nine insurance sector players it found to be best prepared to manage climate change-related risks, Bloomberg reported.

South African insurers scouting for opportunities in other African nations: PwC

Published October 22, 2014 - 6:16am CST

PricewaterhouseCoopers L.L.P has said that South African insurers have been looking at Kenya, Nigeria and Ghana for expansion to diversify from their slow-growing home market, Bloomberg reports.

Portugal: Lisbon subway workers' strike hits public transport

Published October 22, 2014 - 6:15am CST

Lisbon subway workers have launched a 24-hour strike to protest the government's plans to privatize the metro system, Deutsche Welle reported.

Economic damage worse in El Nino and La Nina years: Study

Published October 22, 2014 - 6:13am CST

A new study has concluded that around 44% of the earth's surface sees worse economic damage during years when the El Nino and La Nina occur, Blue & Green Tomorrow reports.

Reinsurers must seize opportunities in ‘new world of risk’: Hamilton CEO

Published October 22, 2014 - 6:11am CST

Brian Duperreault, chief executive of Hamilton Insurance Group Ltd., has said that the reinsurance industry has taking a slow approach towards tapping new risks, The Royal Gazette reports.

Mexico: Tropical storm Trudy damages roads, crops

Published October 22, 2014 - 6:10am CST

Heavy rains due to tropical storm Trudy in southern Mexico have caused major damage and claimed at least six lives, The Weather Channel reported citing the Associated Press.

Canada: Workers compensation premium rates in Saskatchewan to fall in 2015

Published October 22, 2014 - 6:06am CST

The Saskatchewan Workers' Compensation Board in Canada is looking to reduce premium rates by an average of 3.3% in 2015, saying it has seen a better safety record and effective return-to-work schemes, Leader Post reported.

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