International News

Chinese researcher claims first gene-edited babies

Health, Non-Life, Scientific Facts       Nov 26, 2018

  HONG KONG:  A Chinese researcher claims that he helped make the world’s first genetically edited babies — twin girls born this month whose DNA he said he altered with a powerful new tool capable of rewriting the very blueprint of life. If true, it would...

India recorded highest average real wage growth in South Asia during 2008-17: ILO report

Eco/Invest/Demography, Wealth Management       Nov 27, 2018

  Geneva: India recorded the highest average real wage growth in South Asia during 2008–17, according to a report by the International Labour Organisation (ILO).   Reflecting more rapid economic growth than in other regions, workers in Asia and the Pacific have enjoyed the highest real wage...

Only 9 per cent  of economic losses in Asia insured:AIR

  Boston: Catastrophe modeling firm AIR Worldwide (AIR) today released its “2018 Global Modeled Catastrophe Losses” report, detailing key loss metrics from AIR’s global industry exceedance probability (EP) curve.    Based on the report, AIR estimates that the 1 per cent  aggregate exceedance probability insured loss (or...

Air pollution affects life expectancy worse than smoking, terrorism: Study

  Washington: The effect of pollution on life expectancy in India is worse than that of HIV/AIDS, cigarette smoking, and even terrorism, according to a study which found that Indians would live 4.3 years longer if the country met the WHO guidelines.   According to the new...

Allianz receives approval for China’s first fully-owned foreign insurance holding co

Non-Life       Nov 25, 2018

  Shanghai/Singapore/Munich: Germany major Allianz on Saturday  announced that it has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) for the preparatory establishment of an insurance holding company in China.     The company - Allianz (China) Insurance Holding Company Limited - will be China’s...

Factbox: Key Elements of EU-UK Draft Deal for Post-Brexit Relationship

Eco/Invest/Demography       Nov 22, 2018

  London: Britain and the European Union have agreed in principle on a text setting out their future relationship. The deal is pending endorsement by the bloc’s leaders at a summit on Sunday.   Here are some key elements of the 36-page draft text. It is part...

UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions

Regulation, Reinsurance, Risk Management       Nov 22, 2018

  London: British companies selling everything from washing machines to flights, food and mortgages plan to spend tens of millions of pounds in case the political brinkmanship gripping the country leads to a disorderly Brexit.   With barely four months until the world’s fifth largest economy leaves...

Generali Earmarks €4 Billion ($4.6 Billion) for Acquisitions, Growth

      Nov 22, 2018

  Trieste: Generali has earmarked up to four billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia to fuel earnings. Italy’s top insurer — which generates most of its revenues in Italy, France and Germany...

SCOR announces the creation of SCOR Europe SE

Reinsurance       Nov 21, 2018

  Paris: SCOR announces the creation of SCOR Europe SE, its new Paris-based P&C specialty insurance company, which has been approved by the French supervisory authority, the ACPR (Autorité de Contrôle Prudentiel et de Résolution). This license enables SCOR Europe SE to operate within the European...