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Regulators will launch a full-blown investigation into the motor insurance market recently in a move that will cause months of uncertainty for the industry but could result in lower premiums for drivers. Read more
Control of Sri Lanka’s Aviva NDB Insurance and a fund management unit is being bought by AIA Group, for 109 million US dollars, with joint venture partner, Colombo based NDB group, also exiting. Read more
Changes to accounting standards are on their way for medium-sized companies across the UK, but the challenge for those in the insurance sector is particularly acute. Read more
Zurich also announced that Armin Meyer, who has served the maximum tenure of office under the Group’s internal guidelines, will not stand for re-election. Read more
Insurers could have to pay out as much as 700 million euros ($880 million) as a result of earthquakes that hit northern Italy this month, risk-modelling agency Eqecat said recently. Read more
The world’s vulnerability to further economic shocks and social upheaval risk undermining the progress that globalization has brought, warns the World Economic Forum in its Global Risks 2012 report, the seventh edition, published recently. Read more
One of the major challenges facing European insurers in the lead up to Solvency II is how to report their solvency capital numbers to regulators more frequently, in more detail and in a shorter time frame than ever before?
Read moreFifteen companies and individuals have emerged as winners of the 15th Asia Insurance Industry Awards, in a hotly contested race which received more than 500 entries in 15 categories. Read more
Swiss Re has reported a net income of USD 1.3 billion in the third quarter of 2011 (vs USD 0.6 billion in the prior-year period). All segments contributed to these results, which were supported by a moderate natural catastrophe experience and positive one-offs.
Read moreAccording to preliminary sigma estimates, total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached an estimated USD 70 billion in the first half of 2011. Read more