Non-Life Insurers' Underwriting Losses Rise On Higher Claims, Competition
Intense competition, frequency of catastrophes and higher claims are some of the reasons behind the losses.
Non-life insurers have been reporting underwriting losses along with high combined ratio for many years now and rely heavily on their investment income to sail them through.
Intense competition, frequency of catastrophes and higher claims are some of the reasons behind the losses.
This is in sharp comparison with the international experience, where the non-life segment has generally shown an underwriting profit, said CARE Ratings in a report.
First Published: Wed, April 08 2020. 22:43 IST
HSBC Swings The Axe At UK Wealth In An AI Push
HSBC is preparing deep job cuts across its UK wealth management arm. It plans to cut about half of its management and sp... Read more
Kraken's Owner Buys A Bank: The Lines Are Blurring
Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more
Revoluts Australian Banking Licence Game Changer
Revolut has spent much of its life insisting that it is more than a bank. In Australia, it has now decided that becoming... Read more
The AI Bank Is Coming, But Who Controls The Risk?
Artificial intelligence is no longer something banks discuss as a distant possibility. It is already working behind the ... Read more
ClearBank UK Profit Leads To European Growth
ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more