KDB Life’s transformation to shake up Korean reinsurance market

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The Korean reinsurance market may be receiving a shakeup, with KDB Life Insurance’s planned transformation into a reinsurer bringing more competition for dominant player Korean Re.

JC Partners, which recently emerged as the frontrunner to acquire KDB Life, plans to transition the company into the reinsurance business. The move would place KDB Life in direct competition with Korean Re, according to a report by The Korea Times.

The report, citing industry sources, said that JC Partners will acquire KDB Life for KRW550 billion (US$458 million). The buyer will take advantage of the loosening up of several reinsurance regulations in the

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Clothing rental service Rent the Runway lays off workers amid coronavirus outbreak

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FILE PHOTO: A person moves through clothing in the storage area at Rent the Runway’s “Dream Fulfillment Center” in Secaucus, New Jersey, U.S., September 11, 2019. REUTERS/Andrew Kelly

(Reuters) – U.S. clothing rental firm Rent the Runway said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak.

“Like many businesses affected by the COVID-19 pandemic, Rent the Runway has had to make some difficult decisions in the short term to thrive in the long term which include temporary store closures and retail role eliminations,” a company spokeswoman said in an emailed statement

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Coronavirus pandemic forces the funeral industry online

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Silva Funeral Home in Taunton, MA

Courtesy: Silva Funeral Home in Taunton, MA

If you know someone who’s had to plan a funeral during the Covid-19 shutdown, you realize how much tougher it is to go through this already difficult task.

Most states have limited gatherings to no more than 10 people. Planning and pricing a funeral online is a service the industry has not usually provided. 

“The funeral industry is very much steeped in tradition,” said Chris Cruger, chief operating officer at The Foresight Companies, a consulting firm for the industry.

But the $20 billion industry is being forced

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IGI has financial strength ratings verified by S&P Global

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International General Insurance Holdings (IGI) has announced that S&P Global Ratings has confirmed its financial strength ratings at A- with a stable outlook. The ratings apply to IGI’s subsidiaries, International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.

According to S&P, the key factors in its rating decision were:

  • Strong risk-based capital adequacy and strong risk controls to manage IGI’s key risk exposures.
  • The company’s track record of technical performance relative to sector peers.
  • An experienced management team with a history of attracting high-quality technical and underwriting staff.

“We are pleased that S&P

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