New European AI law to impact insurance and banking & more…Keep up with what has been happening this week in our latest insurance news round-up…

Chartered Insurance Institute spotlights insurance industry’s rise in Arab world

Insurance boss delves into factors driving industry’s growth in the region

New European AI law to impact insurance and banking

The insurance and banking sectors will be required to carry out an impact assessment to ensure their use and development of artificial intelligence (AI) protects fundamental rights across Europe.

AerCap collects $1.3bn of insurance settlements linked to Ukraine war

Global aircraft leasing firm AerCap Holdings has collected over $600 million of insurance settlements over the fourth quarter of 2023, for a total of $1.3 billion collected during 2023.

Zurich Insurance to buy 70% stake in Kotak arm upfront in amended deal

Zurich Insurance Group will buy a 70% stake in Kotak Mahindra Bank’s general insurance arm by paying 55.60 billion rupees (nearly $671 million) upfront instead of staggering the purchase as planned last year, the Indian lender said this week.

Insurers flocking to Bermuda to expand reinsurance footprint – AM Best

Some insurers are strategically increasing their reinsurance operations in Bermuda, either through subsidiaries or independent ventures, according to a recent analysis in Best’s Review.

RSA takeover set to complete by end of May & more...

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