Zurich Insurance boosts ambition with new financial targets

Zurich Insurance boosts ambition with new financial targets

ZURICH/LONDON, Nov 16 (Reuters) – Zurich Insurance Group (ZURN.S) has set a new 2023-2025 target of increasing business operating profit after tax return on equity (BOPAT ROE) to more than 20% by 2025, with 8% compounded organic growth per share per year. aims to produce announced on wednesday. Europe’s fifth largest insurer also targets cumulative … Read more

Nigerians trade waste for health insurance

HDFC, India's largest mortgage lender, reports an 18% increase in profit in the second quarter.

PORT HARCOURT, Nigeria (Reuters) – Jerome Ngutall suffered from persistent stomach pains and, like many Nigerians, had no money for a doctor. Then he heard about the novel idea of ​​getting health insurance. He soon signed up with Soso Care, a Nigerian health-tech company, and after delivering used car batteries and plastic waste, he received … Read more

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich, November 10 (Reuters) – Zurich Insurance Group (ZURN.S) expects a net pre-tax hit of $550 million from Hurricane Ian. Europe’s fifth-largest insurer said its new annual premium equivalent (APE) in life insurance fell 6% but rose 2% on an equal basis after adjusting for currency movements, acquisitions and disposals. Zurich’s Swiss Solvency Test (SST) … Read more

China amends rules governing insurance relief fund

China amends rules governing insurance relief fund

BEIJING (Reuters) – China’s financial regulator said on Wednesday it had amended rules governing a state-run bailout fund that bails out troubled insurers. The regulations aim to promote the healthy development of the insurance industry, prevent and resolve financial risks, and maintain financial stability, the China Banking and Insurance Regulatory Commission said in a statement … Read more

Tesla changes China’s insurance incentive scheme to encourage purchases

Tesla changes China's insurance incentive scheme to encourage purchases

Shanghai/Beijing, November 8 (Reuters) – Tesla Inc. (TSLA.O) said it had raised insurance incentives for car orders in China before Nov. 30, but lowered them for orders next month. The US automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders placed between October 1 and December 30. However, Tesla announced on Tuesday … Read more

Dutch provinces to end fossil fuel export credit insurance from 1 January

Dutch provinces to end fossil fuel export credit insurance from 1 January

AMSTERDAM (Reuters) – The Dutch government said on Thursday it intends to stop providing credit insurance to companies and banks for exports in the fossil fuel sector as of January 1, following pledges made at the COP26 climate change conference. did. in Glasgow. In a statement announcing the move, the Treasury Department called it an … Read more

Aircraft leasing company Avolon files lawsuit against Lloyds Insurance

Aircraft leasing company Avolon files lawsuit against Lloyds Insurance

DUBLIN (Reuters) – Aircraft leasing company Avolon is suing Lloyds Insurance in the Irish High Court as leasing giants file lawsuits over huge losses linked to the Russia-Ukraine war, the report said. It was revealed in documents shown Thursday. Avolon posted an impairment loss of $304 million in the first quarter and suffered financial losses … Read more

Indian Infrastructure Bank to start disbursing loans in fiscal year 23

Indian Infrastructure Bank to start disbursing loans in fiscal year 23

MUMBAI (Reuters) – India’s development finance institution, the National Infrastructure Development Bank, may start disbursing loans from this financial year, said managing director and CEO Rajkiran. Lai G said Wednesday. Lai said financial institutions are also considering raising funds by issuing long-term bonds in the domestic market this fiscal year with maturities of 10 to … Read more

Insurance for Ukrainian grain shipments cut after Russian suspension – source

Insurance for Ukrainian grain shipments cut after Russian suspension - source

LONDON (Reuters) – Insurers are no longer offering new cargo insurance for shipments from Ukraine through the UN-backed secure corridor after Russia stopped participating, industry sources said. an industry source said on Tuesday. An export deal agreed by Russia and Ukraine and brokered by Turkey and the United Nations in July was aimed at alleviating … Read more

UK’s Lloyd’s puts a brake on bad loans due to housing crisis, declining profits

UK's Lloyd's puts a brake on bad loans due to housing crisis, declining profits

LONDON, Oct 27 (Reuters) – Lloyds Banking Group (LLOY.L) It will report lower quarterly earnings on Thursday as it prepares for higher outstanding loans as borrowers are squeezed by the weakness in the UK housing market and inflation. Lloyd’s has lowered its economic forecasts to reflect the worsening outlook and now expects the economy to … Read more