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JLT Re enters joint venture Spanish network partner to form JLT March Re

By: Sarah Veysey

Published October 01, 2014 - 9:28am CST

JLT Re, the reinsurance arm of London-based Jardine Lloyd Thompson Group P.L.C. has entered into a joint venture with March JLT Correduria de Seguros S.A., its Spanish network partner, to form JLT March Re, it announced Wednesday.

Hong Kong protests could affect economy: Region head

Published October 01, 2014 - 5:47am CST

The ongoing protests in Hong Kong over the region's constitutional development have affected traffic on roads and are hampering people's daily lives, Business Standard reported.

Asian insurers must pay attention to stringent cyber laws: Marsh

Published October 01, 2014 - 5:45am CST

Insurance broker Marsh L.L.C. has said in a report that Asian insurers must pay close attention to the changing cyber security laws in the region's countries, reports

Average return of ILS fund market reaches year's best in August

Published October 01, 2014 - 5:44am CST

Figures from Eurekahedge ILS Advisers Index have shown that the monthly return for insurance-linked securities and catastrophe bond funds in August is the highest for 2014.

Floods affect parts of France and Spain

Published October 01, 2014 - 5:41am CST

Heavy rains have caused major flooding across southern parts of France and northeast Spain, reported Al Jazeera.

Ecuador: Disaster insurance revenues fall 7% to $61 million in first half of 2014

Published October 01, 2014 - 5:39am CST

Revenues recorded by Ecuadorian insurers from policies covering catastrophes such as earthquakes, floods and explosions totaled $61 million during the first half of 2014, a fall of 7% year on year, reports

Australia: Large underwriters crucial for crop insurance

Published October 01, 2014 - 5:37am CST

Garry Hansen, chairman of Grain Producers South Australia, has said that support from big underwriting firms is crucial to develop multi-peril crop insurance in the country, Stock Journal reports.

Finland: Insurers could be hit by "adverse effects" of weak economy, says regulator

Published October 01, 2014 - 5:35am CST

Insurers in Finland should be prepared for "the adverse effects of the weak economic situation," Anneli Tuominen, head of Finland's Financial Supervisory Authority, has said.

Nigeria: Development plan for insurance sector in process, says regulator

Published October 01, 2014 - 5:28am CST

Fola Daniel, commissioner for insurance at Nigeria's National Insurance Commission, has said that a new plan to develop the insurance industry is in process, The Guardian Nigeria reports.

Penetrating Chinese insurance market still tough for foreign insurers

Published September 30, 2014 - 5:28am CST

There are close to 50 foreign insurers in China, but they make up less than 10% of the market share despite being in the country for over 10 years, reported WantChinaTimes.

India: Meghalaya floods result in damage worth $325.8 million

Published September 30, 2014 - 5:26am CST

The recent floods in Meghalaya, India, have caused widespread damage across the state and left 52 dead, the state's deputy chief minister Roytre C. Laloo said.

China: 590 typhoon-related claims filed in Zhoushan

Published September 30, 2014 - 5:25am CST

Five hundred and ninety claims have been filed so far in the city of Zhoushan in China following the typhoon that hit the city on Sep. 23, reports

Global insurance industry set for $600 million hit from aviation losses in 2014: Lloyd's

Published September 30, 2014 - 5:23am CST

Inga Beale, CEO of Lloyd's of London, said that the unusually high incidence of aviation mishaps in 2014 have hit the global insurance industry considerably, with claims set to exceed $600 million, reports International Business Times citing The Independent.

U.A.E.: Number of takaful insurers increases to 10

Published September 30, 2014 - 5:22am CST

The insurance regulator of the United Arab Emirates has said that the number of takaful insurers in the region has increased to 10, reported.

Algeria: Insurance sector's turnover up 5.2% in first half of 2014

Published September 30, 2014 - 5:20am CST

Algeria's National Insurance Council said the country's insurance industry has reported a turnover of 73.1 billion Algerian dinars ($886.1 million) for the first half of 2014, a growth of 5.2%, reports Algerie Presse Service.

Costa Rica: Insurance industry expected to see 135% growth by 2020

Published September 30, 2014 - 5:18am CST

Insurance premium income in Costa Rica is likely to reach $2.77 billion by 2020, representing a growth of 135%, reports.

Oman: Insurance industry foraying into new segments, says regulator

Published September 30, 2014 - 5:16am CST

The Capital market Authority of Oman has said that the country's insurance industry is venturing into new segments beyond auto insurance, reports Zawya.

United India Insurance plans reentry into international markets

Published September 30, 2014 - 5:15am CST

United India Insurance Co. Ltd. is planning a return to markets outside of India, Business Standard reported citing the Press Trust of India.

Scientists grapple with ethics in rush to release Ebola vaccines

Published September 29, 2014 - 2:54pm CST

(Reuters) — Normally it takes years to prove a new vaccine is both safe and effective before it can be used in the field. But with hundreds of people dying a day in the worst ever outbreak of Ebola, there is no time to wait.

Japan: 31 feared dead after Mount Ontake volcanic eruption

Published September 29, 2014 - 5:46am CST

A volcanic eruption at Japan's Mount Ontake, a popular climbing destination, is believed to have claimed around 31 lives and left many injured, reports The Toronto Star.

Singapore: Shipping association mulls formation of war risk mutual

Published September 29, 2014 - 5:44am CST

The Singapore Shipping Association is considering creating a war risk mutual for the development of the country's marine insurance sector, Seatrade Global reports.

Air India renews insurance cover with 15% rise in premium

Published September 29, 2014 - 5:41am CST

India's national airline Air India Ltd. has renewed its insurance cover with only a 15% rise in premium, despite the hardening aviation insurance markets worldwide, The Hindu Business Line reports.

Bangladesh: Around 38% of garment factories yet to provide group insurance coverage

Published September 29, 2014 - 5:39am CST

Many readymade garment factories in Bangladesh have not yet provided group insurance coverage to their workers, The Financial Express reported.

India: Insurers deploy damage-assessment teams in Jammu & Kashmir

Published September 29, 2014 - 5:37am CST

Indian public sector insurers have deployed 279 survey teams in the flood-hit Jammu & Kashmir to assess the damage and loss of properties, Businessworld reported citing an official spokesman.

Europe: Solvency II drives insurers to tap sub bond market

Published September 29, 2014 - 5:35am CST

Insurers in Europe are raising capital from subordinated bond markets to strengthen themselves ahead of regulatory moves, reports Reuters.

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