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Swiss Re Rebounds From COVID-19-Driven Loss, Posts $1Bn Net Income

Global reinsurance business top player, Swiss Re, has announced a net income of $1 billion for the first half of 2021, as an improved performance in its property and casualty (P&C) business, helped to offset a COVID-19 driven loss posted in its life and health (L&H) reinsurance division. According to the latest performance reports on […]

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Lloyd’s Insurance Unveils New Climate Action Roadmap

Lloyd’s insurance and reinsurance company has unveiled a new climate action roadmap as it continues moves to work with critical industries to help accelerate the pace of change as the need for net zero carbon intensifies. The risk underwriting company on Thursday released a new report ‘Insuring a sustainable, greener future’ and provided some information […]

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Global Commercial Insurance Prices Up 15% In Q2

A new market index report by Marsh, a global leader in insurance broking and risk management, has indicated that the global commercial insurance prices increased 15% in the second quarter of 2021, representing the 15th consecutive quarter of rate increases in the global commercial insurance market. In addition, the insurance pricing surge also marked the […]

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New NICON Insurance Board Seeks Workers’ Support To Reposition Coy

The new Board of the National Insurance Corporation of Nigeria (NICON Insurance) formally took over the reins of power with its maiden Board Meeting at the Corporation’s head office in Abuja held on Monday and solicited employees’ cooperation to grow the risk underwriting company. Addressing some NICON’s management staff, led by the Deputy General Manager […]

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Aon Estimates Europe Floods Losses Could Surpass $10Bn

Aon, a leading UK-registered professional services firm, has projected that economic losses from the recent severe flooding across Europe could likely exceed US $10 billion. The brokerage firm’s another data indicated that the impacts of the devastating floods, which hugely damaged parts of Central and Western Europe this month, with Germany the country worst affected, […]

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Catastrophic Floods: Moody’s Forecasts Tough Year For German Insurers

The recent catastrophic flooding in Germany as a “consequence of climate change,” has been described by analysts at Moody’s as potentially challenging for the country’s risk underwriting firms and warned that German insurers could find it difficult to protect homeowners against climate risk in future without significant price increases. It would be recalled that the […]

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European Floods To Heighten Insurance, Re-Insurance Losses – Experts

Industry experts have expressed serious concerns that ongoing severe flooding incidents across some countries in Europe could become one of the most expensive flood episodes in risk underwriting history in the continent, with the insurance and reinsurance industry expecting billion Euro industry losses. A news report by artemis.bm, a catastrophe bonds, insurance linked securities, reinsurance […]

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NDIC Seeks Inclusion Of Deposit Insurance System Into ICAN’s Programmes

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has charged the leadership of the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the Institute’s programmes and modules in order to deepen the understanding of the scheme by the banking public. Hassan […]