INSTANDA enters the Middle Eastern marketplace

The customer and policy management platform for the insurance industry has successfully started working with new client and partner in UAE, NewTechMe

Fadata unveils ML solutions for insurance companies

Insurance software provider Fadata is supporting insurers with a framework for the accelerated implementation of machine learning (ML) tools and capabilities

Prices in property and casualty reinsurance continue to rise

German reinsurer Hannover Re anticipates a continuing trend towards higher prices and improved conditions in property and casualty reinsurance for the various rounds of renewals in 2022

Insured losses from Hurricane Ida to be around $25 billion

Catastrophe risk solutions company RMS has estimated that onshore and offshore insured losses from Hurricane Ida in the Gulf of Mexico will be between US$25 and $35 billion

IRDAI issues regulations on insurance advertising

The governing body wants to ensure that insurers and intermediaries adopt fair, honest and transparent practices while advertising to the general public

Regulatory hurdles push up costs for majority of insurers

Regulatory barriers to digitalisation have resulted in additional costs for 60 per cent of insurers during Covid-19 lockdowns, with 50 per cent of insurers reporting lost sales and/or operational impacts

Google launches cyber insurance cover

The tech superfirm has teamed up with Allianz and Munich Re to offer ‘specialised and enhanced cyber insurance designed exclusively for Google Cloud customers’

AXA completes sale of AXA Gulf

AXA has completed the sale of its 50-per-cent shareholding in AXA Gulf and its 34-per-cent shareholding in AXA Cooperative Insurance Company to Gulf Insurance Group (GIG), for a cash consideration…

Insurers in APAC region grow revenue due to Covid

The Covid-19-induced rise in demand for life and health insurance helped Asia-Pacific (APAC) public insurance companies report a year-over-year growth of around 2.5 per cent in 2020, according to GlobalData

Insurers respond to floods in New Zealand

Following severe weather that has left many parts of West Auckland under water, the Insurance Council of New Zealand (ICNZ) – Te Kāhui Inihui o Aotearoa – confirmed that insurers…

Insurance product governance rule compliance concerns

Insurance firms operating in the UK market may not be ready to implement new product governance rules there to ensure insurance provides fair value, according to a review from the…

ELEMENT and Parametrix launch cloud outage insurance in Europe

With international companies around the world, whether in insurance, healthcare or travel, now relying on cloud storage, the need for insurance against failure of this kind of data storage has…

Insured losses from Europe flood could reach €6.5 billion

Catastrophe risk solutions company RMS has estimated that insured losses from the Western and Central Europe flooding that occurred in July will likely range between €5 billion and €6.5 billion…

Japan’s insurance industry expected to grow

The general insurance industry in Japan is projected to grow from JPY11.1 trillion in 2020 to JPY12.6 trillion in 2025, in terms of gross written premiums (GWP), according to GlobalData

Severe weather events drive global insured catastrophe losses

A deep winter freeze, hailstorms and wildfires contributed to natural catastrophe losses of US$40 billion in the first half of 2021, according to Swiss Re Institute’s preliminary sigma estimates