As of December 19, 2023, the recently implemented tax on reinsurance remains at a fixed rate of 25% on premiums ceded to overseas reinsurers. However, it is important to note that this percentage exhibits variability among carriers and risks, particularly when compared to the gross premium stated in the policy. The fluctuation is attributed [...]
In recent years, Turkey has witnessed several revisions to its compulsory earthquake tariff, reflecting the dynamic nature of the insurance landscape. These changes are a response to factors such as high inflation, currency fluctuations, and the profound impact of the devastating earthquake in February, which significantly influenced the Turkish insurance market. This article aims [...]
In a recent member poll, Trust Risk Control received valuable feedback from its partners, shedding light on the successful 25-year journey and areas for further improvement. The responses, provided anonymously, reflect the diverse perspectives of many participants who shared their experiences and insights. We extend our sincere thanks to all participants who generously shared [...]
We are pleased to announce that the following partners have joined the TRC network since the end of 2022 and in 2023. We sincerely welcome all new partners and look forwards to a successful joint future and cooperation. ARMS Founded in 2018 Employees: 8 Country: China Profile: Asian Risks Management Services Limited [...]
We are pleased to share noteworthy news regarding Romero Insurance Brokers. Today, Romero Insurance Brokers Ltd has completed its acquisition by AssuredPartners Inc. This strategic move positions them for a new phase of growth, providing an enhanced platform to better serve their clients and partners. AssuredPartners Inc., a U.S.-based broker operating independently of any [...]
After acquiring a 51% stake in Kotak Mahindra General Insurance, Zurich Insurance Company will no longer operate as a subsidiary of Kotak Mahindra Bank. The confirmed transaction values Kotak General Insurance at approximately Rs 7,943 crore in a post-money valuation, pending customary closing adjustments. Kotak Mahindra Bank formally announced a definitive agreement to [...]
In an era of globalization, continuous development, fast growth, and the relentless search for empowerment, the demand for an efficient and smarter, if not perfect, production system is on the rise. From advanced space research and exploration to banking systems and the ever-troubled economies, the dependence on advanced technology has become vital. This has [...]
What impact do they have on companies' insurance cover? Sanctions are economic and / or political coercive measures taken by individual states, communities of states or international / regional organizations against other countries, groups or individuals. Even before Russia's war of aggression against Ukraine, but especially after it began, various sanctions against Russia, [...]
The ongoing global trend towards further tightening of the property insurance market due to factors such as geopolitical risks, inflation, and natural disasters is also widely observed in the Spanish property insurance market. Particularly, rising claim costs resulting from climatic events such as droughts, wildfires, extreme temperatures, or flooding are expected to contribute to [...]
Reflecting on 25 Years of Global Insurance Broker Networking By Christoph Baltsch - Chairman/CEO TRUST RISK CONTROL It's 02:50 in the morning when jet lag once again wakes me from my sleep. Where am I right now? USA, Germany, Switzerland or somewhere else entirely? Did I actually miss my flight or was it just [...]