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Allianz announced the creation of Allianz Insurance Lanka (Allianz Lanka) after it reached an agreement with Janashakthi Insurance PLC to acquire 100 of its subsidiary (Janashakthi General Insurance Ltd.) for €85.9 million, or approximately US$106.3 million. The transaction is still subject to regulatory approval and is expected to be completed in the first quarter of
Allianz UK reported higher profits and an improvement to its core ratios for the year to December: The UK operations of the German insurer saw operating profit for the year rise to £121.3m from £96.2m in 2016. Chief Executive Jon Dye said higher profits would have been met if it wasn’t for the Ogden discount.
Reefer market has seen a recovery in the last couple of years. In 2015, worldwide international refrigerated perishables trade volumes dipped by 2% of an estimated 144.4 million tons. The reefer market grew in 2016 by 3.5% and in 2017 it was expected to improve by 4% as trade in both conventional reefer ships and
Artificial Intelligence, known as AI, is essentially software that is able to think and learn like a human. Today, basic forms of the technology are able to perform specific tasks – like checking an insurance claim for fraud. Slowly but steady, the impact of the AI in the insurance industry is starting to become more obvious.
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