Reinsurers Increasingly Using ILS to Transfer Risks October 28, 2021 Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed...
Lloyd’s Ups Climate Pledge, Vows to Push Members on Net Zero: Reuters October 28, 2021 By Simon Jessop and Carolyn Cohn Lloyd’s of London said on Thursday it would join peers in scaling up efforts to cut carbon emissions and push...
UN Proposes Net Zero Verification Standard for Corporate Climate Claims October 28, 2021 By Shadia Nasralla A U.N.-backed body launched a scheme to verify corporates’ net zero strategies on Thursday that is likely to become a...
UK-Based Broker KGJ Insurance Is Latest Acquisition for NFP October 27, 2021 NFP, a New York City-based insurance broker and consultant, has acquired UK-based KGJ Insurance Services Group Ltd. KGJ is a...
Aston Lark Acquires Birmingham Broker Bainbridge Collins October 27, 2021 London-based Aston Lark reported it has acquired Bainbridge Collins Ltd., a Midlands independent insurance brokerage focused on the mid corporate...
As Strikes, Riots and Civil Commotion Risks Increase, Insurers Respond With Exclusions October 27, 2021 By L.S. Howard Insurers traditionally have offered protection against strikes, riots and civil commotion (SRCC) at no extra cost, but the increased frequency...
Ping An Insurance Profit Falls 31.2% as Returns, Premiums Shrink October 27, 2021 SHANGHAI/BEIJING — Ping An Insurance Group Co of China Ltd., the country’s largest insurer by market value, posted a 31.2%...
Global Minimum Tax Proposal Could Create Double Taxation for Some Insurers: AM Best October 27, 2021 Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies...
Repairing Mexico City’s Collapsed Metro Could Cost $40M: Grupo Carso October 27, 2021 MEXICO CITY – Mexican billionaire Carlos Slim’s Grupo Carso said the cost of repairing a collapsed section of a Mexico...
Insurance Industry Told to Expect Global Average Annual Disaster Loss of $106B: AIR October 26, 2021 By L.S. Howard The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a...