Hong Kong’s life insurance industry takes a hit & more…Keep up to date with the latest insurance news in our weekly round-up…
Co-Op Insurance and IBM play blame game over collapse of £175m megaproject
In a long-running spat, British insurer Co-Op Insurance is suing IBM for £155m over what it claims Is Big Blue’s “deliberate” failure to deliver a new IT platform for the British financial services provider.
Months of protests hit Hong Kong’s life insurance industry
Months of anti-government protests in Hong Kong have hit one of the city’s most lucrative industries and favoured channels for getting money out of mainland China – the sale of life insurance produts to Chinese tourists.
IMS brings usage-based insurance platform into the US and Canada
IMS, a subsidiary of Trak Global Group (TGG), has made a usage-based insurance platform for auto insurance available in both the US and Canada.
Getsafe, the German insurtech, brings its contents insurance app to UK
Getsafe, the German insurtech that offers home contents insurance via an app, has launched in the UK, despite an increasingly competitive market for insurance in the country, and the thorny regulatory issue of Brexit.
Reinsurance pricing momentum to be carried forward in 2020: S&P
Analysts at S&P Global Ratings believe that the positive reinsurance pricing momentum seen at the recent January renewals is likely to be carried forward into the other upcoming renewals in 2020.
Insured bushfire losses jump to $645m in Australia
Re/insurance industry losses from the catastrophic bushfires still burning through southeastern Australia continue to increase, with the Insurance Council of Australia (ICA) now estimating total insured losses at US $645 million.
Insurance group reveals Lloyd’s of London exit
Neon Underwriting will see the start of a new decade as the managing agency’s end, as it becomes the latest Lloyd’s of London insurer to be placed into run-off.
Reinsurance prices hold steady despite increasing cost of natural disasters
Prices for reinsurance contract renewals have not significantly increased despite rising costs from a broad range of natural disasters over the last few years, according to a Financial Times report.
