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Rebuffed Endurance Specialty Holdings still on lookout for acquisition

Published March 19, 2015 - 6:54am CST

Bermuda-based Endurance Specialty Holdings Ltd. is still looking for an acquisition target following its failed attempt to merge with the country's Aspen Insurance Holdings Ltd. in 2014, reports The Royal Gazette.

Recovery of Vanuatu's economy likely to take years, official says

Published March 19, 2015 - 6:52am CST

Milovan Lucich, an economist at the Asian Development Bank, has said that Vanuatu's economy might take years to recover following the destruction that cyclone Pam left in its wake, reports Radio New Zealand.

Shell, Eni report 553 oil spills in Nigeria in 2014: Amnesty International

Published March 19, 2015 - 6:49am CST

Amnesty International has said that Royal Dutch Shell P.L.C. and Eni S.p.A. operating in Nigeria have reported combined 553 oil spills in 2014, reported Business Standard citing Agence France-Presse.

Kenya's Pan Africa Insurance purchases 51% stake in Gateway Insurance

Published March 19, 2015 - 6:47am CST

Kenya-based Pan Africa Insurance Holdings Ltd. has purchased a 51% stake in the country's Gateway Insurance Co. Ltd., Daily Nation reports.

Industry braces for sweeping regulations

Published March 19, 2015 - 6:45am CST

India's Insurance Regulatory and Development Authority plans to announce around 40 new regulations in the coming months, Business Standard reported.

Reinsurers' capital management activities can stabilize pricing: Swiss Re

Published March 19, 2015 - 6:44am CST

Swiss Re Ltd. has said that traditional reinsurers' capital management activities would help counter the pressure from alternative capital on reinsurance pricing and stabilize the pricing, Artemis.bm reported.

Gross insurance premiums in Bahrain up 9%-10% in 2014

Published March 19, 2015 - 6:41am CST

Abdul Rahman Al Baker, executive director for financial institutions supervision at the Central Bank of Bahrain, has said that Bahrain insurance sector's gross premiums increased 9% to 10% in 2014, reported Asia Insurance Review citing Al Khaleej newspaper.

Insurance industry’s revenues up 7.4% in 2014

Published March 19, 2015 - 6:38am CST

Algeria's National Insurance Council said that the country's insurance industry has reported revenues of 119 billion Algerian dinars ($1.2 billion) in 2014, up 7.4% year on year, reports Asia Insurance Review citing the Algerian Times.

Cyclone prompts food concerns in Vanuatu

Published March 18, 2015 - 6:44am CST

Global aid agencies warned that the recent cyclone Pam, which hit Vanuatu, has raised the risk of hunger and disease in the country, reports Reuters.

Insurance investment hike in India

Published March 18, 2015 - 6:42am CST

Foreign investment inflow worth 600 billion Indian rupees ($9.51 billion) in the coming five years is likely in India's insurance sector as the Indian Parliament amends the insurance law, Nikkei Asian Review reported.

Cyclone Nathan threatens Australia

Published March 18, 2015 - 6:41am CST

The northern region of Australia's Queensland is bracing for cyclone Nathan, reports Brisbane Times.

Insurance law change allows greater foreign investment in Thailand

Published March 18, 2015 - 6:40am CST

Law firm DLA Piper L.L.P. said that the two new insurance acts recently issued by Thai regulators have eased the restrictions on foreign ownership in the country's insurers, Asia Insurance Review reported.

Insurers look to new risks in Egypt

Published March 18, 2015 - 6:38am CST

The Insurance Federation of Egypt has urged the country's government to include the insurance industry in providing risk cover for new investment projects, reported Asia Insurance Review.

Analysts upbeat on Nigeria's insurance prospects

Published March 18, 2015 - 6:37am CST

Analysts have said that Nigeria's insurance industry has the potential to grow volumes and boost shareholder value, reported THISDAY Live.

Disaster insurance program for South East Asia

Published March 18, 2015 - 6:35am CST

The Association of Southeast Asian Nations is looking to implement the ASEAN Disaster Risk Financing and Insurance Programme, reported Artemis.bm.

Cyclone Pam increases El Nino risk for Australia

Published March 18, 2015 - 6:33am CST

Australia's Bureau of Meteorology has said that the recent cyclone Pam, which hit Vanuatu, is likely to have increased the chances of an El Nino event in 2015 in the country, reported Sydney Morning Herald.

Damage to Indian crops from weather, rust

Published March 18, 2015 - 6:31am CST

Heavy rains, hailstorm and yellow rust have damaged more than 20,000 hectares of cropped area in India's Jammu region, Daily Excelsior reported.

Insurer PZU expects profit hit

Published March 18, 2015 - 6:29am CST

Przemyslaw Dabrowski, CFO of Polish insurer PZU S.A., said that new financial rules and low interest rates are likely negatively to affect the insurer's profits in 2015, Reuters reported.

Lloyd's opens office in Beijing

Published March 17, 2015 - 7:35am CST

Lloyd's of London has opened a branch office in Beijing, reported Asia Insurance Review.

Reinsurers plan to enter Indian market

Published March 17, 2015 - 7:34am CST

Several global reinsurance players have shown interest in opening branch offices in India and are awaiting new rules from the country's insurance regulator, reported The Indian Express.

RSA Insurance mulls sale of Latin American business

Published March 17, 2015 - 7:32am CST

London-based RSA Insurance Group P.L.C. is mulling sale of its Latin American business as part of its broad restructuring plan, Reuters reported citing the Financial Times.

Cyclone Pam death toll rises

Published March 17, 2015 - 7:31am CST

The United Nations said that the recent cyclone Pam that hit Vanuatu has claimed at least 24 lives and displaced 3,300 people, The Guardian reported.

Cyber criminals targeting banks in U.K.

Published March 17, 2015 - 7:28am CST

Matt Allen, director of financial crime at the London-based British Bankers' Association, said that the association is witnessing "a trend towards cyber criminals targeting banking customers," reports Business Reporter.

Longevity reinsurance market more competitive: Hannover Re

Published March 17, 2015 - 7:27am CST

The reinsurance market worldwide is becoming more and more drawn to longevity risks, bringing about greater competition for each longevity reinsurance transaction, reported Artemis.bm.

Bahraini insurers profit up

Published March 17, 2015 - 7:25am CST

Four registered insurers in Bahrain posted combined profit of 8.9 million Bahraini dinars ($23.6 million) in 2014, reported Asia Insurance Review citing Al Wasat newspaper.

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