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Australia’s spending on public pensions to be lowest in OECD as private system takes strain

by AIP Online Bureau | Aug 23, 2023 | Eco/Invest/Demography, International News, Pension & Social Security, Policy, Workplace/Employee Benefits

The number of Australians aged 65 and over will double by 2063 but spending on public pensions will decline to 2% of GDP over the same period, from 2.3% today, thanks to the private pension system, according to excerpts from the “Intergenerational Report...

One billion people globally to have osteoarthritis by 2050: Lancet Study

by AIP Online Bureau | Aug 23, 2023 | Data, Eco/Invest/Demography, Health

Obesity or high body mass index (BMI) was an important risk factor for osteoarthritis, the study results showed, and that it played a greater role over time as rates of obesity had increased NEW DELHI: By 2050, nearly one billion people globally are projected to be...

Moody’s RMS estimates $4 to 6 billion in economic losses from Hawaii Wildfires

by AIP Online Bureau | Aug 23, 2023 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance

Michael Young, Vice President, Product Management, Moody’s RMS, noted: “When the rare situation of high wind and wildfire ignitions do occur again in the future, we need to be sure all the buildings comply with scientifically proven risk reduction features highlighted...

Miller announces new leadership roles in Asia

by AIP Online Bureau | Aug 23, 2023 | International News, Non-Life, Regulation

Ron Whyte, Head of Miller Asia, said: “Asia forms an important part of Miller’s international growth strategy and these new appointments provide us with greater focus as we continue to expand in the region” London: Miller, an independent specialist (re)insurance...

Russia’s flagship oil above $60 does little to halt G-7 services

by AIP Online Bureau | Aug 23, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance

Insurers have complained publicly about the risks of covering cargoes using the attestation system in recent months. There has also been a drop off in the number of ships calling at Russian ports with industry-standard insurance from members of the International Group...
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