Insurance News ME

Insurance expects price discipline from foreigners in Turkey

The weight of foreigners in the Turkish insurance sector is gradually increasing with acquisitions going on since 2006 as Turkey draws record amounts of foreign investment, but the sector complains that price discipline is still non-existent.

Munich Re acquires Allfinanz

Munich Re has acquired 100 percent of the shares of Allfinanz, a software company headquartered in Dublin for 48m Euros in cash. Allfinanz is a leading provider of web-based business processing and underwriting automation software to the life insurance industry.

Allfinanz and Munich Re: an Australian first with TOWER

Allfinanz and MunichRe have combined to provide a leading automatic underwriting and rules system. The system, now being piloted by TOWER Australia Group Ltd uses a technology-based automatic underwriting system supplied by Allfinanz and enabled with a rules set prepared by Munich Re.

Industry Needs to Address Climate Change Says F&C Report

A new study from the London-based F&C Asset Management Group sounds a warning to the insurance community that the effects of climate change could have devastating consequences.