- China's launches earthquake insurance policy
China has launched the sale of the country’s first earthquake insurance policy as part of its effort to establish a catastrophe insurance system to compensate for disaster losses, reported China Daily.
- Kidnap for ransom rising in Gulf of Guinea
The U.K. P&I Club’s head of loss prevention Stuart Edmonston said that piracy and kidnap are becoming more sophisticated and prevalent in the Gulf of Guinea, reported The Maritime Executive.
- Bombings claim nearly 120 lives in Baghdad
Two bombings in Iraq’s Baghdad city have killed almost 120 people and wounded 200, reported Reuters.
- Israeli conglomarate sells insurance arm to Chinese group
Israeli conglomerate Delek Group said that it has signed a non-binding agreement to sell its insurance unit Phoenix Holdings Ltd. to China’s Fujian Yango Group for at least 1.85 billion Israeli shekels ($481 million), reported Reuters.
- Aviva Canada completes acquisition of RBC General Insurance
Insurer Aviva Canada Inc. has completed the acquisition of Royal Bank of Canada’s RBC General Insurance Co., reported CanadasBiz.net.
- Cybercriminals target point-of-sale terminals: Report
U.S.-based Verizon Enterprise Solutions Inc. has said in a report that cybercriminals are targeting pay points for data theft and fraud, reported The East African.
- Regulator relaxes rules on insurers' investment in infrastructure
The China Insurance Regulatory Commission has revised rules to make it easier for insurers to invest in infrastructure projects, reported Reuters.
- Insurance sector unknowingly supports illegal fishing: Study
Researchers at the University of British Columbia have found that the insurance sector is unknowingly supporting illegal fishing by covering illicit fishing boats, reported CBC.ca.
- Government allows state-owned general insurers to sell farm insurance plans
All four public sector general insurers in India have been allowed to participate in the government’s farm insurance schemes – the Pradhan Mantri Fasal Bima Yojana and Unified Package Insurance Scheme, reported Mint.