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Jamaica to nearly double disaster cover spend

Published February 27, 2015 - 5:59am CST

Jamaica is looking for a greater level of disaster coverage from the Caribbean Catastrophe Risk Insurance Facility as it works with the World Bank to boost disaster resilience, reported Artemis.bm citing the Jamaica Gleaner.

Insurer Liberty Holdings sets aside $87 million for acquisitions

Published February 27, 2015 - 5:45am CST

South Africa-based insurer Liberty Holdings Ltd. said that it has set aside more than 1 billion South African rand ($87 million) for acquisitions in Africa, Bloomberg reported.

XL Group anticipates increased regulatory oversight after Catlin deal

Published February 27, 2015 - 5:44am CST

Ireland-based XL Group P.L.C. said that it expects increased oversight from regulators globally after its proposed acquisition of Bermuda's Catlin Group Ltd., reports Bloomberg.

Bermudan insurers gain credibility with Lloyd's partnership: Official

Published February 27, 2015 - 5:42am CST

Association of Bermuda Insurers and Reinsurers president Bradley Kading said that partnering with Lloyd's of London has helped insurers in the country to "establish credibility and gain access to markets where barriers exist," The Royal Gazette reported.

Willis CEO and deputy chief switched chairs

Published February 27, 2015 - 5:38am CST

Willis South Africa Pty. Ltd. has announced the appointment of George Bishop as its new chief executive and Ryck Genis as its deputy chief executive, RISKSA Magazine reported.

Insurer Sul America's net income rises 14% in 2014

Published February 27, 2015 - 5:37am CST

Brazilian insurer Sul America S.A.'s net income increased 14% year on year to 548.7 million Brazilian reals ($191 million) in 2014, Segs.com.br reported.

Insurance sector reformation required to transform economy: Official

Published February 27, 2015 - 5:31am CST

Abdoulie Baks Touray, a development economist, has said that reforming Gambia's insurance sector will help transform the country's economy, AllAfrica.com reports citing The Point newspaper.

PT Asuransi Binagriya's premiums climb 17% in 2014

Published February 27, 2015 - 5:29am CST

Indonesian insurer PT Asuransi Binagriya Upakara posted a 17.6% year-on-year increase in direct premium income totaling 100 billion Indonesian rupiahs in 2014, Bisnis.com reports.

Allianz earnings and dividend disappoint, shares down

Published February 26, 2015 - 9:21am CST

(Reuters) — German insurer Allianz S.E. raised its dividend less than expected after earnings in its core property/casualty insurance businesses lagged and asset management stalled following client defections at its U.S. unit Pimco.

Natural disasters cause $60 billion in economic losses: U.N.

Published February 26, 2015 - 6:00am CST

The United Nations Economic and Social Commission for Asia and the Pacific has said in a report that natural disasters in the region resulted in economic loss worth $60 billion and affected 80 million people in 2014, Inter Press Service‎ reports.

Swiss Re purchases less retrocession for 2015

Published February 26, 2015 - 6:00am CST

Swiss Re Ltd. has bought less retrocession for 2015 in spite of the apparently attractive retro market conditions, Artemis.bm reports.

Cost of claims from cyclone Marcia jumps to $52 million

Published February 26, 2015 - 6:00am CST

Insurance claims costs from cyclone Marcia that recently hit Australia have increased to $67 million Australian ($52 million), reported Dailymail.co.uk citing the Australian Associated Press.

IRB-Brasil Re's 2014 profits leap 72% to $226 million

Published February 26, 2015 - 6:00am CST

IRB Brasil Resseguros S.A.'s net profit for 2014 surged 72.5% year on year to 601.5 million Brazilian reals ($226 million), Segs.com.br reported.

Seven of 10 uninsured SMEs in Spain disappear after losses: Study

Published February 26, 2015 - 6:00am CST

Spain-based insurer Mapfre S.A. has said in a study that seven of 10 uninsured small and medium-sized enterprises in the country disappear after incurring a loss, Cincodias.com reported.

Asia-Pacific insurers cite talent shortage as key challenge: Survey

Published February 26, 2015 - 6:00am CST

A survey by Towers Watson & Co. has found that Asia-Pacific insurers see a talent shortage as their primary challenge, reported Asia Insurance Review.

Mexican reinsurer Patria Re opens branch in Chile

Published February 26, 2015 - 6:00am CST

Mexican reinsurer Reaseguradora Patria S.A.B. is expanding to Chile, reports BNamericas.

Azerbaijani nonlife insurers' premiums up 14% in January

Published February 26, 2015 - 6:00am CST

Premiums collected by Azerbaijani insurers in the nonlife segment totaled 54.7 million Azerbaijani manats ($52 million) in January, up 14% year on year, reported Forinsurer citing 1News.Az.

Lenovo Group's website hacked

Published February 26, 2015 - 6:00am CST

China-based Lenovo Group Ltd.'s website has been hacked, with users being redirected from the site, Bloomberg reports.

Tune Ins Holding's profit climbs nearly 7%

Published February 26, 2015 - 6:00am CST

Malaysia-based insurer and reinsurer Tune Ins Holding Bhd.'s net profit for 2014 increased 6.8% year on year to 72.6 million Malaysian ringgits ($20 million), reports The Edge Markets.

Chinese hackers graduating to identity theft

By: Judy Greenwald

Published February 25, 2015 - 3:44pm CST

Groups in China continue to target Western interests, but there has been a shift in focus from the theft of intellectual property to identity information as well, says a report issued by Hewlett-Packard Co.

War risk mutual launched by Standard Club Asia

Published February 25, 2015 - 5:36am CST

The Standard Club Asia Ltd. has announced the launch of Singapore-based war risk mutual, Hellenic Shipping News Worldwide reports.

Insurance profits in China in January to grow 184.07%: Official

Published February 25, 2015 - 5:34am CST

Zhou Yanli, vice chairman of China Insurance Regulatory Commission, has said that the profit of the country's insurance sector likely will grow 184.07% year on year in January, reported Hexun.com citing Beijing Daily.

Lloyd's names general representative in South Korea

Published February 25, 2015 - 5:32am CST

Lloyd's of London has announced the appointment of Jin-Yung Sun as its first general representative in South Korea, reported The FINANCIAL.

Forest fire burns 15,000 hectares in Argentina

Published February 25, 2015 - 5:31am CST

Argentine officials said that a huge fire has charred nearly 15,000 hectares of forest in the country's Chubut province, reported Fox News Latino citing Agencia EFE.

Cyclone Lam damage in Australia about $64.5 million

Published February 25, 2015 - 5:29am CST

The first damage repair bill from cyclone Lam that hit Australia's northern Top End region has been pegged at $82.4 million Australian ($64.5 million), 9news.com.au reported.

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