International News

Music team joins Miller to grow music and entertainment offering

Reinsurance       Jan 22, 2019

  London: Miller has continued its rapid expansion into the entertainment market with the hire of four specialists in music insurance, led by Martin Goebbels, who is joined by Rose Burgess, Holly Leary and Pamela Choat.   Having worked together for many years, the team has extensive...

Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report

  Chicago: Aon's Weather, Climate & Catastrophe Insight: 2018 Annual Report reveals that 394 natural catastrophe events in 2018 generated economic losses of USD225 billion.   Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record....

France uses strict EU privacy law first time, fines Google 50 mn euros

Risk Management, Technology       Jan 22, 2019

Paris: France's data watchdog on Monday announced a fine of 50 million euros ($57 million) for US search giant Google, using the EU's strict General Data Protection Regulation (GDPR) for the first time.   Google was handed the record fine from the CNIL regulator for failing...

L to R-CB Murli, CEO, AGCS, India , Sinéad Browne, AGCS Board Member and Chief Regions and Markets Officer for Asia Pacific Mark Mitchell, Regional CEO AGCS Asia Pacificat the lauch of AGCS's India reinsurance operations in Mumbai

AGCS opens reinsurance branch in India, targets EUR50 million premium over next 5 yrs

Non-Life, Reinsurance, Risk Management       Jan 21, 2019

  Mumbai: Allianz Global Corporate & Specialty SE (AGCS), dedicated carrier for corporate and specialty insurance business of German insurance giant Allianz SE, launched their new India reinsurance branch office in Mumbai on Monday and is targeting  €  50 million premium over the next five years.  ...

India likely to surpass UK in the world's largest economy rankings: PwC

Eco/Invest/Demography       Jan 20, 2019

  London: India is likely to cross the United Kingdom in the world’s largest economy rankings in 2019, a report published by global consultancy firm PwC stated. “India and France are likely to surpass the UK in the world’s largest economy rankings in 2019, knocking it...

A.J. Gallagher’s 'clean coal' business draws ire of green investors

  BOSTON: Two of America’s best-known green investors are reassessing their stakes in global insurance broker Arthur J. Gallagher & Co after a Reuters investigation into the company’s lucrative side-business in “clean coal”.   A.J. Gallagher (AJG.N) has invested in 34 facilities producing so-called refined coal, which...

Pandemics may cause $570 bn annual loss to global economy, says WEF report

Disaster & Management       Jan 19, 2019

  New Delhi: Global businesses face huge risks from a new era of epidemics and pandemics that may cause an average annual economic loss of $570 billion to the global GDP, posing a threat similar to that from climate change, says a report.   In the report...

World Bank Gr announces $50 bn over five yrs for Climate Adaptation & Resilience

  WASHINGTON: The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is...

Pension Trustees seek corporate disclosure of Sexual Harassment Costs, Policies

Pension, Risk Management       Jan 15, 2019

  A group of trustees from some of America’s biggest public pensions are calling on companies to detail costs related to sexual harassment and any measures they’re taking to address the problem.   “We don’t see how it could possibly be accretive to corporate value to have...

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