International News

EU regulators set July 27 deadline for deadline on Aon, Willis deal

Eco/Invest/Demography, Health       Apr 14, 2021

BRUSSELS: European Union antitrust regulators have extended until July 27 the deadline for their decision on Aon’s $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Wednesday. Aon, which announced the deal a year ago to create the world’s largest...

Seven European countries to halt export finance for fossil fuels

  PARIS: Seven European countries, including Germany, France and Britain, will commit on Wednesday to stop public export guarantees for fossil fuel projects, French Finance Minister Bruno Le Maire said on Tuesday. Coal, oil and gas infrastructure have traditionally made up a large share of the...

IFAD and IsDB commit $500 million to address hunger and climate change in poor rural communities

  Rome: Joining forces to tackle rising hunger and the devastating impact of climate change in some of the world’s most vulnerable countries, the UN’s International Fund for Agricultural Development (IFAD) and the Islamic Development Bank Group (IsDB) today signed a US$500 million cooperation and cofinancing...

New global compact aims to drive down diabetes deaths, boost insulin access

Eco/Invest/Demography, Health, Life, Non-Life       Apr 14, 2021

  World Health Organization (WHO),on Wednesday,launched the new Global Diabetes Compact for Increasing access to affordable insulin,100 years after the discovery of the life-saving medicine.  The development comes as risk of early death from diabetes is increasing, underscoring why countries must tackle the disease and bring...

Life insurance industry in Malaysia to reach $15.7bn in 2025: GlobalData

Life       Apr 14, 2021

  The life insurance industry in Malaysia is projected to grow from MYR50.70bn (US$11.98bn) in 2020 to MYR65.86bn (US$15.68bn) in 2025, in terms of gross written premium, according to GlobalData, a leading data and analytics company. GlobalData has revised Malaysia’s insurance forecast in the aftermath of...

Aon's EU concessions for $30 billion Willis bid may not be enough: 

Intermediaries, Regulation       Apr 13, 2021

  BRUSSELS: Insurance broker Aon’s offer to sell assets in five EU countries and takeover target Willis Towers Watson’s reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said on Tuesday. Aon is looking to the acquisition to create...

Dislodged ship held in Suez Canal as talks continue over $916 million claim

Non-Life, Reinsurance       Apr 14, 2021

  CAIRO: A ship that blocked the Suez Canal for almost a week in March is being held in the waterway as canal authorities pursue a $916 million compensation claim against the ship’s Japanese owner, one of the vessel’s insurers and canal sources said on Tuesday....

Generali in talks to buy AXA assets in Malaysia, sources say

      Apr 13, 2021

MILAN: Italy’s biggest insurer Generali is in exclusive talks to buy assets in Malaysia belonging to French rival AXA in a deal worth around 300 million euros ($358 million), two sources said on Tuesday. The Italian insurer, which is already present in Malaysia, will discuss...

Insurance startup Clearcover raises $200 million from Eldridge, others at $1 billion valuation

Eco/Invest/Demography, Technology       Apr 13, 2021

  Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday. In a statement seen by Reuters ahead of...