low insurance penetration News

India Flags Low Health Insurance Penetration as Damper to Growth

India’s push toward universal health care has Prime Minister Narendra Modi’s political opponents worried, a top government adviser said. Modi’s government announced a plan last week to provide health insurance to 100 million poor families, which would cover about 40 …

Extreme Rainfall Could Cost South Asian Cities Up to $215B Annually by 2030

As global attention focused on hurricanes Harvey and Irma, more than 41 million people across South Asia battled floods and displacement. From Afghanistan in the west to Bangladesh in the east, floods could cost South Asia — home to a …

Devastating S. Asia Floods Kill 1,400, Expose Lack of State Planning for Monsoons

The most devastating floods to hit South Asia in a decade have killed more than 1,400 people and focused attention on the poor planning and lack of preparedness for annual monsoon rains, as authorities struggle to get aid to millions …

The Nature Conservancy, Blue Marble Offer Microinsurance for LatAm Ranchers

The Nature Conservancy (TNC) and Blue Marble Microinsurance announced they have formed a partnership designed to provide microinsurance for small ranchers in Latin America who use a weather-resilient practice called “silvopasture.” Silvopastoral farming is the practice of combining trees with …

New Insurance Products Could Cut Natural Disaster Costs in Poorer Nations: Report

New types of insurance could cut the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a report commissioned by Britain’s international development ministry. The cost of natural disasters to some of …

UK Aims to Build Market to Insure Developing Nations Against Natural Disasters

The UK will attempt to build a market for insuring countries against natural disaster, with the goal of providing more stable funding for relief from famines and floods. Prime Minister Theresa May will announce the move at the Group of …

Swiss Re, Ping An Offer China’s 1st Mobile-Enabled Parametric Insurance Cover

Swiss Re has partnered with Ping An Property & Casualty Insurance Co. of China Ltd. to launch China’s first mobile-enabled typhoon property parametric insurance solution. This solution is designed to provide an affordable, easy-to-use insurance product for both individuals and …

Gen Re Receives License to Open Reinsurance Branch in India

Gen Re has received approval from the Insurance Regulation and Development Authority of India (IRDAI) to open a branch in Mumbai ( known as R3 authorization). The branch structure will now allow Gen Re to deliver underwriting and risk management …

UK’s Aviva Buys Remaining 50% Share in Vietnam Joint Venture

Aviva plc has acquired VietinBank’s entire 50 percent shareholding in its life insurance joint venture VietinBank Aviva Life Insurance Ltd. Aviva also has signed a new distribution agreement with VietinBank to sell life and health insurance products through VietinBank’s network …

April 1 Renewals Saw ‘Disciplined Softening’ with Ample Capacity: Aon & Willis Re

With abundant capacity, aggressive capital market competition and acceptable returns for global reinsurers, it’s no wonder that the elusive bottom of soft market pricing was not evident at the April 1 renewals. During 2016, global reinsurers generated “an acceptable, though …