June 23, 2023
At least 31 people were killed and seven injured when cooking gas exploded at a restaurant in Yinchuan in northwestern China. It was the latest in China’s long history of deadly industrial accidents, which occur regularly despite government pledges to …
August 9, 2020
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on Tuesday, the biggest …
August 6, 2020
The devastating explosion at the Beirut’s port on Tuesday, Aug. 4 caused many casualties and considerable damage, but local insurance penetration rates in Lebanon generally are low, said AM Best in a market commentary. For the international market, however, marine …
December 4, 2017
Ten people died and five were injured in a fire early Friday [Dec. 1] in a northern Chinese port city where scores were killed in an explosion two years ago. The fire department in Tianjin said the blaze broke out …
June 29, 2016
Despite a challenging business environment and global trade slowdown in 2015, global direct premiums written grew by 3.8 percent in real terms, up from 3.5 percent in 2014, according to Swiss Re’s latest sigma report. However, in nominal US dollar …
April 12, 2016
The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers tend to hold a …
March 30, 2016
Insurance payouts from the chemical blasts at the Chinese Port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. The estimate of …
March 25, 2016
One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and flooding in …
March 23, 2016
Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001. Earnings declined to 2.1 billion pounds ($3 …
February 24, 2016
Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has discussed the plan with several investment banks but has …