- Former Zurich Insurance boss Martin Senn kills himself
The tragedy comes six months after Mr. Senn left the company under a cloud, and less than three years after Zurich’s finance chief took his own life.
- Asia expected to drive global insurance market growth in next few years: Munich Re
A report by Munich Reinsurance Co. has said that growth in the global insurance market is expected to be driven by Asia in the next few years, The Philippine Star reported.
- Insurance industry's net profits fall 42%
Data from the Australian Prudential Regulation Authority revealed that the nation’s general insurance industry’s net profit declined 42% year over year to 2.2 billion Australia dollars ($1.6 billion) in the year ended March 31, 2016.
- Korean Air takeoff mishap grounds 400 flights
Over 400 flights were cancelled, affecting around 70,000 people, after a passenger plane of South Korea-based Korean Air Lines Co. Ltd. terminated takeoff at Tokyo International Airport, Japan, reported Business Standard citing media sources.
- Credit Suisse sells ILS worth $222 million via Bermudian insurer
Swiss financial services firm Credit Suisse Group A.G. has sold 220 million Swiss francs ($222 million) worth of insurance-linked securities via a Bermudian special purpose insurer, reported The Royal Gazette.
- U.K. firms fail to take basic precautions against cyber attacks
U.K. companies continue to fail to take basic precautions against cyber attacks, ITProPortal reports.
- German insurer Ergo to acquire 40% stake in Thailand's Thaisri Insurance
German insurer Ergo Versicherungsgruppe A.G. has entered into an agreement to buy 40% of Thailand’s Thaisri Insurance Public Co. Ltd., reports The Nation.
- Almost half of organizations lack senior cyber security executives
A survey by U.A.E-based cyber security firm DarkMatter found that 48% of the respondents said that their organizations did not have a senior management executive to oversee cyber security, reported Khaleej Times.
- Takaful insurance booms
Oman’s Capital Market Authority said that gross direct takaful insurance premiums boomed 64% to 39 million Omani rials ($101 million) in the nation in 2015, Times of Oman reported.