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Marine insurance sector facing new liabilities: Skuld chief

Published March 31, 2015 - 5:48am CST

Stale Hansen, chief executive of Norway-based marine insurer Assuranceforeningen Skuld, has said that the marine insurance sector has been facing new emerging liabilities, reported Ship & Bunker.

British Airways' frequent flier accounts hacked

Published March 31, 2015 - 5:46am CST

"Tens of thousands" of British Airways P.L.C.'s frequent flier accounts have been hacked, Fox News reported citing The Guardian.

Summary: Oil and gas supplier negotiates 35% reduction in insurance and reinsurance premiums

Published March 31, 2015 - 5:44am CST

Sources have said that India's Oil and Natural Gas Corp. Ltd. has renewed its insurance and reinsurance covers for offshore assets at $20 million, reports Moneycontrol.com citing the Press Trust of India.

Tornado warnings issued in U.K.

Published March 31, 2015 - 5:42am CST

Huge gusts have hit the Midlands and England's southeast in the United Kingdom because of a powerful Atlantic jet stream, Express.co.uk reports.

Vanuatu receives $1.9 million payout from Pacific risk pooling facility

Published March 31, 2015 - 5:41am CST

Vanuatu has received a payout of $1.9 million from the Pacific Catastrophe Risk Insurance Pilot following cyclone Pam that recently hit the country, reported Artemis.bm.

Australia looks to cut insurance premiums in cyclone-prone areas

Published March 31, 2015 - 5:39am CST

Australia's federal government is evaluating options to reduce insurance premiums in cyclone-prone areas in northern Australia, The Guardian reported.

Strong earthquakes hit Tonga, Samoa

Published March 31, 2015 - 5:38am CST

Tonga and Samoa have been hit by strong earthquakes, The Indian Express reported.

Wapic Insurance's post-tax profit surges 214% in 2014

Published March 31, 2015 - 5:36am CST

Nigeria-based Wapic Insurance P.L.C. has said that its profit after tax increased 214% in 2014, reports Leadership Newspapers.

Insurer Fosun International eyes overseas acquisitions

Published March 30, 2015 - 5:51am CST

China's Fosun International Ltd. is eyeing purchase of five insurers in Europe, the United States and Asia in 2015, Nasdaq reported.

Earthquake triggers tsunami warning in Papua New Guinea

Published March 30, 2015 - 5:48am CST

A strong earthquake has hit Papua New Guinea and triggered tsunami warning in the country, Firstpost reported citing The Associated Press.

Terror attack in Kenya feared

Published March 30, 2015 - 5:46am CST

The Australian government has warned of a probable terrorist attack in Kenya's Nairobi city, reported International Business Times.

Insurer profits to be hit by low interest rates: Moody's

Published March 30, 2015 - 5:45am CST

Analysts said that low insurance rates are likely to erode insurers' financial strength and earnings power for years to come, reports Reuters.

Insurance penetration in Uganda lags

Published March 30, 2015 - 5:44am CST

Insurance penetration in Uganda is low compared with its East African Community peers, East African Business Week reported.

Power outages cost South African economy up to $6.64 billion per month

Published March 30, 2015 - 5:43am CST

South Africa-based Eskom Holdings SOC Ltd. is currently rolling out a new set of blackouts, its second in 2015, that is likely to negatively affect the country's struggling economy, Ventures Africa reported.

Flash floods hit Kashmir Valley

Published March 30, 2015 - 5:41am CST

India's Kashmir Valley has been hit by flash floods, causing damage to several structures, TwoCircles.net reported citing IANS.

Earthquake hits Chile

Published March 30, 2015 - 5:39am CST

The U.S. Geological Survey said that northern Chile has been hit by a magnitude 6.0 earthquake, reported Channel News Asia citing Agence France-Presse.

Broker gains registered status at Lloyd's

Published March 30, 2015 - 5:38am CST

Guernsey-based Heritage Group Ltd. has gained Lloyd's of London registered broker status, reports Guernsey Isle News.

Investment growth at Africa Re

Published March 30, 2015 - 5:36am CST

Omar Gouda, African Reinsurance Corp.'s regional director for North East Africa and the Middle East, has said that the reinsurer's premiums amounted to $718 million at the end of 2014, reports Amwal Al Ghad.

European reinsurers' valuations too high: Deutsche Bank

Published March 27, 2015 - 5:59am CST

Analysts at Deutsche Bank A.G. have said in a report that valuations of European reinsurers are too high, with one analyst saying valuations of some firms have reached levels that "we cannot justify even with reduced costs of equity," reported Artemis.bm.

Lloyd's eyes alternative reinsurance capital sector

Published March 27, 2015 - 5:54am CST

Lloyd's of London aims to harness the alternative reinsurance capital trend, reported Artemis.bm. Lloyd's of London's latest annual report showed that its return on capital decreased to 14.7% from 16.2%.

Major oil shipping route at risk due to Yemen conflict

Published March 27, 2015 - 5:52am CST

The ongoing conflict in Yemen has put the Bab el-Mandeb shipping route at risk, The Maritime Executive reported citing Reuters. There have also been multiple hijackings of merchant ships in recent years in the area.

States preparing cyber attack options to target enemies' critical systems

Published March 27, 2015 - 5:51am CST

Gabi Siboni, an official at Israel's Institute for National Security Studies, said that states have been increasingly preparing cyber attack options to target their enemies' critical systems, reports The Jerusalem Post.

Concerns raised about falling oil prices effect on Gulf takaful industry

Published March 27, 2015 - 5:49am CST

There have been concerns about the effect of declining oil prices on takaful in the Gulf Cooperation Council, mainly as governments in the region are expected to cut their infrastructure spending, reported Asia Insurance Review.

Kenya Reinsurance's gross written premiums up 20% in 2014

Published March 27, 2015 - 5:48am CST

Kenya Reinsurance Corp. Ltd. has said that its pre-tax profit increased 20% to 3.9 billion Kenyan shillings ($50 million) in 2014, Reuters reported.

Peru's growth potential draws Chilean insurers: Fitch

Published March 27, 2015 - 5:46am CST

Fitch Ratings Ltd. has said in a report that Peru's growth potential has been drawing Chilean insurers to establish their presence in the Peruvian insurance sector, Gestion.pe reported.

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