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Cyber catastrophe reinsurance plan would improve UK resilience

Published July 29, 2015 - 5:26am CST

A public-private cyber catastrophe reinsurance pool in the United Kingdom would help improve the country’s competitiveness as an attractive economy for cyber business, as reported by Computer Weekly.com citing a Long Finance report by Z/Yen Group Ltd., co-sponsored by APM Group Ltd.

Insurance premium volume up 19.27% in in China in H1

Published July 29, 2015 - 5:24am CST

China’s insurance industry recorded a 19.27% increase in insurance premium volume to 1.370 trillion Chinese yuan ($220.74 billion) in the first half of 2015, reports Chinese Financial News.

Devastating flood kills at least 81 in Pakistan

Published July 29, 2015 - 5:23am CST

Nearly 300,000 people have been affected and at least 81 have been killed in the devastating floods across Pakistan, reports The Indian Express.

LyondellBasell estimates fire damages up to $30 million

Published July 29, 2015 - 5:22am CST

LyondellBasell Industries N.V. said that fires at two hydrocarbon tanks at its Berre cluster petrochemical plant on July 14, 2015 caused an estimated $20 million to $30 million in damages, The Street reports.

IT security threats in Australia rise

Published July 29, 2015 - 5:21am CST

The number of IT security threats reported Australian Signals Directorate reported a 20% rise in 2014 to 1131, reports itNews.

Global economic losses from catastrophes $46 bn in H1

Published July 29, 2015 - 5:19am CST

During the first half of 2015, the global natural disaster losses from both insured and economic loss perspective were each below the 10-year (2005-2014) average, as reported by CFO Innovation.

Natural disasters displaced 20 million people in 2014

Published July 29, 2015 - 5:18am CST

Approximately 20 million people were displaced in 2014 because of extreme natural disasters, reports Vice News citing a report by the Norwegian Refugee Council.

Niger exec encourages collaboration

Published July 29, 2015 - 5:17am CST

Kola Adedeji, managing director/chief executive of Niger Insurance P.L.C., said during an interview that shared infrastructure can help Nigerian insurance industry to develop retail market for better penetration, reports Business Day.

India’s insurance industry reports 12.5% growth

Published July 28, 2015 - 5:33am CST

India’s general insurance industry reported a 12.5% growth in the first three months of the current fiscal year, reports The Hindu citing PTI.

Lloyd’s urged to improve data flow

Published July 28, 2015 - 5:31am CST

Beazley P.L.C. CEO Andrew Horton says that Lloyd’s of London should improve its data flow, reports Bloomberg.

Qin Lu appointed CEO at Aon Benfield Greater China, Aon Risk Solutions China

Published July 28, 2015 - 5:28am CST

Qin Lu has been appointed CEO of Aon Benfield Greater China and Aon risk solutions China, reports Reuters.

Mobile technology impacts brokers and insurance agents

Published July 28, 2015 - 5:26am CST

In Nigeria, there are around 500 insurance brokers and 7,000 agents and they are now facing the hazard of losing their job as more insurance companies adopt mobile technology, reports Business Day.

AEGON plans to raise stake in Indian life insurance joint venture

Published July 28, 2015 - 5:25am CST

Netherlands-based financial services organization AEGON N.V., which operates in India through its insurance joint venture AEGON Religare Life Insurance Co. Ltd., is hoping to become one of the first insurers to raise its stake in the life insurance JV to 49%, as reported by Business Standard.

Slater & Gordon to end agreement with Swinton in October

Published July 28, 2015 - 5:23am CST

Australian law firm Slater & Gordon has decided to end its agreement with UK-based insurance brokerage Swinton Group Ltd. in October, reports Australasian Lawyer.

Rothesay Life agrees to insure $2.48 billion for CAA pension plan

Published July 28, 2015 - 5:21am CST

U.K.-based pension insurer Rothesay Life Ltd. has agreed to insure 1.6 billion ($2.48 billion) of bulk annuities for United Kingdom’s Civil Aviation Authority pension plan, reported Reuters.

Insurers eye Iran in wake of nuclear deal

Published July 27, 2015 - 5:13am CST

Middle East and Western insurance companies are taking a cautious look at an $8 billion Iranian insurance market in the wake of the county’s nuclear deal with world powers, reports Reuters.

Heavy rains in Pakistan affect more than 250,000 people

Published July 27, 2015 - 5:12am CST

Heavy rains and flood have impacted the north and south of Pakistan, reports AFP.

Kenya faces 5.4 million cyber attacks in 2014

Published July 27, 2015 - 5:11am CST

Kenya faced 5.4 million cyber-attacks in 2014, which is more than double the figure recorded in 2013, reports Voice of America?.

IRDAI rejects Indian Broker Association’s request for inclusion in General Insurance Council

Published July 27, 2015 - 5:10am CST

India’s regulator IRDAI and the General Insurance Council have rejected Indian Broker Association’s request for inclusion in the General Insurance Council, which represents 28 general insurers, as reported by Business Standard.

Mapfre posts rise in premiums in LatAm North region

Published July 27, 2015 - 5:09am CST

Spanish insurer Mapfre S.A has reported a rise in premiums in its LatAm North region in the first half of the year, reported BNamericas.

Reinsurance restructuring increases Allied World Assurance Company’s ceded premiums

Published July 27, 2015 - 5:08am CST

Allied World Assurance Company Holdings AG has reported a rise in its ceded premiums by nearly $16 million, reports Artemis.bm.

Oil washes up ashore near Barrier Reef

Published July 27, 2015 - 5:06am CST

Palm-sized clumps of "weathered oil" have been washed up on three beaches in Australia after a recent oil spill near Townsville, reported Brisbane Times.

Zurich SA expects to return to profit in first half of 2015

Published July 27, 2015 - 5:05am CST

South Africa-based insurer Zurich SA is expecting an after tax profit of 100,000 South African Rand ($8,020) in the first half of 2015, as reported by Independent Online.

Anbang Insurance Group bidding for 46-storey Heron Tower in London

Published July 27, 2015 - 5:04am CST

The 46-storey Heron Tower in London has received a bid from Chinese insurer Anbang Insurance Group Co. Ltd., reports WantChinaTimes citing a Bloomberg report.

Lloyd’s forms Asia-Pacific consortium for excess layer placements on property risks

Published July 24, 2015 - 5:45am CST

Lloyd’s has formed the Asia Pacific Excess Consortium, expanding its presence in the region, reported Asia Insurance Review.

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