51% UAE residents don’t own life insurance: Survey
Nearly half of the UAE residents do not have a life insurance coverage while one-fourth are covered against serious illness as many of them found it too expensive, reveals a…
Improved economic momentum alone will not close current profitability gaps in major non-life insurance markets, sigma says
Worldwide, most major non-life insurance markets are in a phase of below-average profitability. The latest sigma report from the Swiss Re Institute, "Profitability in non-life insurance: mind the gap", assesses the existing…
Insurance Companies asks Nepal to check fraud
International insurance companies have set a deadline for Nepal to clamp down on fraudulent helicopter rescues of tourists or they will stop providing cover. An AFP investigation earlier this year…
Lloyd’s to Insure Custody Platform for Digital Currency
Lloyd’s of London will insure a crypto custody platform by U.S.-based custodial firm Kingdom Trust, according to a press release. Founded in 1686, Lloyd’s of London is a British insurance…
Munich Re generates profit of €728m in second quarter
Munich Re has generated profit of €728m in second quarter. Announcing the quarterly result Joachim Wenning, Chairman of the Board of Management said “With a half-year profit of €1.6bn, we…
Catastrophes cause global economic losses of USD 36 billion in the first half of 2018-Swiss Re
According to Swiss Re Institute's preliminary sigma estimates, global economic losses from natural catastrophes and man-made disasters in the first half of 2018 were USD 36 billion. This figure is…
Russell Higginbotham to become new Swiss Re CEO Reinsurance EMEA and Regional President EMEA
Russell Higginbotham has been appointed CEO Reinsurance EMEA and Regional President EMEA and member of the Group Executive Committee, effective 1 September 2018. Russell Higginbotham succeeds Jean-Jacques Henchoz, who has…
Premiums in advanced markets face headwinds
Non-life premium growth in advanced markets remained broadly stable in 2017 at 1.9%. In the US, the non-life industry benefitted from higher rates in motor business, while prices in commercial…
Global insurance premiums continued to rise in 2017 with emerging markets leading the way, latest Swiss Re Institute sigma study says
Global insurance premiums increased 1.5% in real terms1 to nearly USD 5 trillion in 2017, after rising 2.2% in 2016. Global life premiums increased 0.5% in 2017, while global non-life premiums…
US President stops billions in Insurance payments under Obamacare
The Donald Trump administration halted billions of dollars in payments to health insurers under the Obamacare healthcare law, saying that a recent federal court ruling prevents the money from being…