Singaporean businesses are now paying higher insurance premiums, with the increase attributed to the effects of the COVID-19 pandemic.
The April 01 international reinsurance renewal followed trends set earlier in the season, with market pricing remaining firm in almost all classes and territories, according to the latest 1st View report by Willis Re.
Global insured losses in 2020 were US$89 billion, making last year the fifth-costliest year on sigma records since 1970, according to a new sigma report from the Swiss Re Institute.
Buying personal insurance online is becoming more popular in China, with premiums increasing by 13.6% year on year, according to data from the Insurance Association of China.
Banks and insurers around the world are likely to face climate-related stress tests in the next two to three years as supervisors become increasingly aware of the urgency in gauging the risks from climate change, Fitch Ratings says in a new report.
Theo chuyên gia từ Nền tảng kinh doanh bảo hiểm INSTANDA, việc công nghệ ngày càng phổ biến đang tạo ra những rủi ro mà ngành bảo hiểm chưa từng đối mặt cũng như chuẩn bị trước đây.
Speaking at the Asia Brokers Summit 2021, Brokerslink chairman Jose Manuel Fonseca he pointed out that brokers in general did a great job in the transition to working from home and dealing with people digitally.
The world's four largest reinsurers recorded a 69% fall in net income in 2020. In 2019 the net income of these four insurers (Munich Re, Swiss Re, Hannover Re and SCOR) was EUR5.07bn ($6.04bn) and it fell to EUR1.56bn ($1.86bn) in 2020.
As Singapore aims to recover from the COVID-19 crisis, a report by Aon has noted an increase in shorter-term and micro-insurance products in the market, as a response to the current risk-averse environment.
Insurance and legal professionals expect to see an increasing number of run-off deals this year, according to a new report by Global Insurance Law Connect (GILC). The report looked into the drivers of legacy business in both mature and emerging markets, collecting data from member firms in 20 countries.