The collapse of Baltimore's Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of commercial insurance market Lloyd's of London said yesterday, reported Reuters.
In 2023, the Monetary Authority of Singapore (MAS) named four 'domestic systemically important insurers' - AIA Singapore, Income Insurance, Prudential Assurance and Great Eastern Life Assurance.
The collapse of the Francis Scott Key Bridge in Baltimore early on 26 March after it was struck by a Singapore-registered container ship could trigger a wide swath of insurance and reinsurance policies, and the loss is likely to run into billions of dollars, sources say.
GROW with Singlife, an integrated investment platform operated by the Singapore-based life insurer Singlife, has teamed up with Allianz Global Investors Singapore Limited (AllianzGI), a key player in the field of active asset management. This collaboration is set to provide advisers and investors with access to a wide range of wealth and investment solutions.
The completion of the acquisition of Singapore Life Holdings (SLH) by Sumitomo Life Insurance Company (IFS Rating: A+/Stable) on 18 March 2024 has been followed by a ratings upgrade. Singapore Life is also known as Singlife.
Tokio Marine Holdings, through its subsidiary Tokio Marine & Nichido Fire Insurance (TMNF), has sponsored the issuance of a new catastrophe bond called "Kizuna Re III Series 2024-1 Class A Principal At-Risk Notes (Kizuna Re III CAT bonds).
Prudential Singapore has announced that it is the first insurer in the city state to enable policymakers to effect online nominations of beneficiaries (online NOB) using "Sign with Singpass", which makes it easy and more convenient for policyholders to nominate their beneficiaries.
Generative AI, as a technology, caught many people off-guard with its power and flexibility. With the entire world scrambling to take full advantage of what generative AI can do, insurers must make surenot to lag behind in adoption and integration once again.
Singaporean millennials have the highest levels of financial resilience, and, while confidence and optimism are high across all generations, many people including wealthy individuals still lack a plan of action. In addition, trust and emotion were important when Singaporeans made financial decisions.
The General Insurance Association of Singapore (GIA) yesterday announced year-on-year growth for both its domestic and offshore general insurance segments, with a combined increase of 10.1% in gross written premiums to S$10.2bn ($7.6bn).