Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

The 1 April reinsurance renewals continued the trend set in January with a broadly flat pricing environment for loss-free programmes, as reinsurers failed to push through rate increases, according to Willis Re. Although ongoing reinsurance price declines witnessed during recent years have halted, plentiful capital, ongoing interest from the insurance-linked securities (ILS) sector and large primary insurers re-entering the reinsurance…

EU speeds up completion of free trade agreements – Atradius

EU speeds up completion of free trade agreements – Atradius

EU speeds up completion of free trade agreements – Atradius

The European Union and trading partners are speeding up the completion of free trade agreement negotiations, driven by the growing insecurity over US trade policy, according to credit insurer Atradius. “Many say that the growing insecurity over the direction of US trade policy is a curse for international trade; however, it could turn out to be a boon for the…

Parima adds new board members

Parima adds new board members

Parima adds new board members

The Pan-Asia Risk and Insurance Management Association (Parima) has added three new members to its board committee, in a sign of its growing presence in the region. Rehanna Box, Satoshi Hoshi and Takehisa Banno joined the board on 8 March, bringing the total number of members to 26. Ms Box, insurance advisory partner at the Sydney office of international law…

Trade credit insurer gives APAC stable risk rating

Trade credit insurer gives APAC stable risk rating

Trade credit insurer gives APAC stable risk rating

Global trade credit insurer Atraidus has given a moderate and stable forecast for the economic prospects within Asia-Pacific in its latest report, which examines the political and economic risks in the region’s 11 major economies. And while no major risks are highlighted in the report, it does warn of an expected increase in the number of insolvencies in the region,…

Global insurance sector M&As pick up in second half of 2017

Global insurance sector M&As pick up in second half of 2017

Global insurance sector M&As pick up in second half of 2017

Merger and acquisition (M&A) activity in the global insurance sector fell in 2017, according to Clyde & Co’s latest annual Insurance Growth Report, but the second half of the year showed an increase in deals for the first time since 2015. There were 350 completed M&As in the global insurance sector in 2017, down from 387 in the previous year.…

Insurers and regulators react to cryptocurrency risks

Insurers and regulators react to cryptocurrency risks

Insurers and regulators react to cryptocurrency risks

The cryptocurrency craze has led a number of major insurers to consider policies offering protection against theft and other risks, according to Reuters. Meanwhile, international regulators and central bankers are looking to introduce measures to protect investors and companies against a cryptocurrency crash or financial fraud from unregulated crypto operators. Currently, only a handful of insurers – XL Catlin, Chubb…

Worldwide Broker Network appoints Mojumdar CEO to board to boost Asian profile

Worldwide Broker Network appoints Mojumdar CEO to board to boost Asian profile

Worldwide Broker Network appoints Mojumdar CEO to board to boost Asian profile

Commercial broker network, the Worldwide Broker Network (WBN), has appointed Larry Mojumdar, CEO of Tokyo-based firm Mojumdar & Company, to its board of directors. The addition of Mojumdar & Company, which provides commercial and personal insurance from 20 local and foreign insurers in Japan, raises WBN’s broker members from the Asia-Pacific region to 21. Daniel de Swaan, chair of the…

Sanchi’s expanding oil slick raises environmental concerns

Sanchi’s expanding oil slick raises environmental concerns

Sanchi’s expanding oil slick raises environmental concerns

The spill from the stricken oil tanker Sanchi has created an oil slick that has trebled in size since the ship went down in the East China Sea in a ball of flames more than a week ago, and is threatening to make it the costliest marine disaster in recent memory. China’s State Oceanic Administration reported on Sunday that it…

Tanker Sanchi sinks with no survivors

Tanker Sanchi sinks with no survivors

Tanker Sanchi sinks with no survivors

The Sanchi, the stricken Iranian tanker that collided with a US freighter off the eastern coast of China in one of the worst oil ship disasters in decades has sunk, taking with it all remaining survivors on board, according to Iranian officials. According to an Iranian navy commander speaking on Saturday 13 January, a massive explosion occurred on the ship,…

Parima announces details for 2018 conferences

Parima announces details for 2018 conferences

Parima announces details for 2018 conferences

The Pan-Asia Risk and Insurance Management Association (Parima) has revealed the dates and locations for next year’s conferences as well as the theme for both events – ‘Overcoming Uncertainty’. The first event will be held in Bangkok, Thailand on 22 May 2018 and will be based on a sub-theme of ‘Preparing for 4.0’. Risk managers from the likes of AirAsia, Thaioil, Raytheon Australia,…

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