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AM Best upgrades GIC Re’s credit rating outlook to stable, co’s balance sheet strength remains strong

Sep 18, 2021 | , ,

GIC Re,with a global premium of $6,481 billion in 2020. is the 10th largest non-life reinsurer in the world and third largest reinsurer in Asia after China Re and Korea Re. The business profile assessment of favourable reflects GIC Re’s position as a leading reinsurer in India, with an approximate 75% market share based on ceded domestic written premium. The company continues to have close relationships with direct insurers in India, and local regulations provide GIC Re with a competitive advantage in obtaining domestic reinsurance placements.

In addition, the company maintains a geographically diversified underwriting portfolio, with over 35% of business sourced outside of India in fiscal year 2021.

 EXPLAINER: Why World Bank is under fire over set of rankings

Sep 18, 2021 | , , ,

The report is important to many companies and investors around the world: They use the World Bank’s “Doing Business” report to help decide where to invest money, open manufacturing plants or sell products.

Eager to attract investment, countries around the world, especially developing economies, have sought to improve their rankings in the World Bank’s report.Sometimes, nations would pursue substantive policy changes — by, for example, making it easier for businesses to pay taxes, obtain loans or enforce contracts.

Tech giant Xiaomi patents earthquake monitoring mobile tech

Sep 18, 2021 | , , ,

The patent describes a system that is capable of reading/monitoring seismic activity from a mobile equipment. This technology would be used in detecting earthquakes, reports GizmoChina.

The ‘mobile device’ would transfer key data obtained to send it to an earthquake processing center.

The system would also permit the underlying processor to identify and predict earthquake events based on multiple readings, the report added.

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