Articles by Andrew Tjaardstra
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
No restrictions on Mecca pilgrimage despite coronavirus
The World Health Organisation is advising pilgrims to wear a mask at Mecca during Ramadan, but the Saudi Arabian government has no travel restrictions in place.
SAP rolls out IFRS4 accounting software
SAP has launched an integrated finance and risk software application to help insurers with the upcoming accounting standards for insurance contracts, International Financial Reporting Standards 4, and Solvency II.
Sompo Japan expands presence in Brazil
Japanese general insurer Sompo Japan has raised its stake in Sao Paulo-based Maritima Seguros to 87% from 50% through its subsidiary Yasuda Seguros.
Europe's trade credit insurance premiums on the rise
According to insurance broker Marsh, there has been a large increase in claims notifications in Europe since the last quarter of 2012.
Foreign owned insurers can use yuan as capital
China's State Council has changed the rules for foreign-owned insurers in the country by allowing them to use yuan as capital from 1 August.
Zurich seeks quick sale in Malaysia
The Swiss insurer needs to sell its 40% stake in MCIS Zurich after an acquisition in 2011.
China Taiping establishes new unit
China Taiping's new business unit China Taiping Insurance Group Co. has officially opened after a restructure at the group.
Dam bursts on River Elbe
23 000 people have been evacuated from the east German city of Magdeburg after a dam burst as the River Elbe overflowed.
Budapest's flood defences hold firm
The worst of the flooding appears to be over in Budapest as the river Danube starts to recede.
Perils releases European flood satellite pictures
Zurich-based independent catastrophe data company Perils has released satellite-based 'flood footprints' for the ongoing floods in Central Europe which are affecting mainly Germany, Austria and the Czech Republic.
XL to offer Shariah products in Malaysia and Singapore
XL Group will offer Shariah-compliant insurance to large corporate and middle market clients, including companies in Malaysia and Singapore.
China lessens insureds' claims' obligations
China's Supreme People's Court has raised the responsibility on insurers for when querying claimants.
Berkshire India to stop online sales
Berkshire India, the Indian arm of Warren Buffet's Berkshire Hathaway has failed to see its online offering spark into life.
Thailand's premiums up 21%
Premiums in Thailand grew 21% in the first quarter of 2013 when compared to the same period in 2012.
Peak Re CEO: Japan has been a surprise
Five months since its launch, Peak Re's CEO Franz Josef Hahn says business is going to plan and the reinsurer has been particularly well received in Japan.
InterGlobal expands sales team
Twenty four sales staff have been appointed or promoted by international medical insurer InterGlobal.
Study suggests majority of Bangladeshi factories vulnerable
A survey by the Bangladesh University of Engineering and Technology suggests around 60% of garment factories in Bangladesh are vulnerable to collapse.
Deadly May tornado season in US results in huge losses
Record breaking tornadoes and hail in the US caused billions of dollars of damage and many fatalities in Oklahoma and Texas in May.
Cyclone Mahasen destroyed over 100 000 homes
Over 130 000 poorly constructed homes in Bangladesh were destroyed by the powerful cyclone in May.
Japan's insurers see motor market recovery
Japan's motor market, which makes up 50% of general insurers' premiums, has seen a recovery in its underwriting profits to the end of the fiscal year March 2013.
Dai-ichi Life buys in Indonesia
Japanese life insurer Dai-ichi Life has bought 40% of Panin Life in Indonesia.
Rising flood waters threaten Prague
The authorities in the Czech Republic have been forced to open several dams meaning river levels are still rising threatening the capital Prague.
SAP global head predicts a cloud-based future
Robert Cummings, global head of insurance solutions, at technology house SAP predicts that soon "most things will be in the cloud".