International News

How the Kremlin provides a safe harbor for ransomware

  BOSTON: A global epidemic of digital extortion known as ransomware is crippling local governments, hospitals, school districts and businesses by scrambling their data files until they pay up. Law enforcement has been largely powerless to stop it. One big reason: Ransomware rackets are dominated by...

U.S. P/C insurers perform well in 2020 despite Pandemic, higher Cat losses:AM Best

Non-Life, Reinsurance       Apr 16, 2021

  OLDWICK, N.J: Publicly traded U.S. property/casualty (P/C) insurers performed unexpectedly well in 2020 despite extraordinary negative factors, generating operating income of $82.1 billion, according to a new AM Best special report. The analysis in the Best’s Special Report, “US P/C Insurers Perform Well Despite COVID-19,”...

COVID-19 predominantly transmitted through air: Lancet study cites 'strong evidence'

Eco/Invest/Demography, Health, Pandemic       Apr 15, 2021

According to a new assessment published today in the medical journal Lancet there is consistent, strong evidence that the SARS-CoV-2 virus, which causes COVID-19, is predominantly transmitted through the air. Therefore, public health measures that fail to treat the virus as predominantly airborne leave people...

World stocks at record high, oil up on strong China, United States data

Eco/Invest/Demography, Wealth Management       Apr 16, 2021

Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump. Government stimulus, a string of strong corporate earnings releases and the signs of economic recovery in...

Citigroup's retreat highlights global banks' struggle in China, India

  Citigroup Inc.’s plan to exit its retail business in China and India underscores the frustrating battle for market share international banks face in two of Asia’s largest economies despite plowing in billions of dollars over the past decade. Increased rivalry from domestic lenders, especially in...

Lloyd’s Lab announces its sixth cohort with a focus on product simplification and climate

  London: Lloyd’s has today announced the next eleven InsurTech start-ups joining the sixth cohort of the Lloyd’s Lab innovation accelerator programme, which will be focused on creating simpler products for customers, including building solutions related to climate risks. This follows Lloyd’s commitments to reducing complexity...

Jean-Paul Conoscente, CEO,SCOR Global P&C

SCOR's Apr 1 Indian renewal kitty swells by 21% to EUR 178 million

Non-Life, Reinsurance       Apr 14, 2021

Paris, Apr 15:. At the April 1, 2021, reinsurance renewals, French reinsurer SCOR performed strongly, benefiting from the continued improvements in pricing and terms & conditions already seen during the January renewals. SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange...

Covid 19 Pandemic: 9 in 10 Singaporeans still struggling with their mental health, men and younger adults most worried

Eco/Invest/Demography, Health, Life, Non-Life, Pandemic       Apr 15, 2021

  SINGAPORE: AIA Singapore today announced findings from a new study on the state of Singaporeans' health at the one-year mark since COVID-19 was declared a pandemic. It revealed that fears over income loss and job instability caused 91% of respondents to report declines in their...

Tokyo Olympics might yet be cancelled due to COVID-19 - Japanese official

Eco/Invest/Demography, Non-Life, Reinsurance       Apr 15, 2021

Tokyo: A senior Japanese ruling party official said canceling this year’s Olympics in Tokyo remains an option if the coronavirus crisis becomes too dire, as a fourth wave of infections surges less than 100 days from the planned start of the Games. “If it seems...