Ajait Jain, vice chairman, Berkshire Hathaway Jain’s selling...
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DBS looks for bancassurance partnership in India and Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc....
Moody’s acquires Praedicat, adds Casualty and Liability modeling capabilities
“As losses from catastrophic events are increasing, insurers are...
Nairobi to Ningbo: See the supply shocks spanning globe
Container rates have shot up by as much as fivefold because of the disruptions that the pandemic is causing at ports around the world. Space on containers has been hard to secure and at one point, the company had a shipment of finished goods delayed for six weeks trying to leave India, said Adrienne Sodar, the company’s joint managing director.
Google CEO Sundar Pichai sought to keep Incognito mode issues out of spotlight, lawsuit alleges
Users last June alleged in a lawsuit that Google unlawfully tracked their internet use when they were browsing Incognito in its Chrome browser. Google has said it makes clear that Incognito only stops data from being saved to a user’s device and is fighting the lawsuit.
China introduces laws to dig deep into private lives of Chinese people, especially students
The sweeping new rules dictate how much time kids can play video games, when and how students can take after-school classes, which entertainers with what type of looks people can watch on TV, and what kind of activities fans can take part in to support their celebrity idols, CNN reported.
Allianz is said planning to offload large U.S. life portfolio
Such deals are attractive to insurers as it helps them manage risk. These insurance blocks have become popular targets for private equity buyers including Apollo Global Management Inc., which set up Athene Holding Ltd., and KKR & Co. as they seek to eke out returns in a low interest-rate environment. American International Group Inc. agreed in July to sell a stake in its life-insurance and retirement-services business to Blackstone, which will also manage some of the unit’s assets. U.S. insurer Prudential Financial Inc. said last week it would sell an annuities subsidiary for $1.5 billion to Carlyle-backed Fortitude Group Holdings LLC.
European insurers to boost ESG investments on Solvency II Reform
The Commission estimates that the risk-margin reduction could release up to EUR90 billion of capital and that the lower charges for long-term equities could release about EUR10 billion
IMF’s Georgieva accuses former World Bank president Kim’s office of manipulation
She also accused the office of the bank’s past president, Jim Kong Kim, of manipulation, saying his office had proposed including Hong Kong data in China’s ranking in the World Bank’s Doing Business 2018 report to boost China’s standing. 7
Global Covid-19 caseload tops 231.1 mn, deaths surge to more than 4.73 mn
The US continues to be the worst-hit country with the world’s highest number of cases and deaths at 42,852,711 and 687,078, respectively, according to the CSSE.
In terms of infections, India follows in the second place with 33,594,803 cases.
Vanuatu to push international court for climate change opinion
Vanuatu, with a population of some 280,000 people spread across roughly 80 islands, is among more than a dozen Pacific island nations facing rising sea levels and more regular storms that can wipe out much of their economies.
“In response to the catastrophic levels of climate change loss and damage faced by this small Pacific nation, Vanuatu recognises that current levels of action and support for vulnerable developing countries within multilateral mechanisms are insufficient,” the government said in a statement on Saturday.
Supply chain snarls could cost automakers $210 billion this year: Report
The dour new forecast comes amid warnings from automakers and commercial truck manufacturers that semiconductor shortages and commodity price spikes are not easing as 2021 heads into its final months, as industry executives had hoped they would.
Global reinsurers in a quandry on incorporating Climate Change Risk
“If re/insurers are not properly accounting for the impact of climate change in their catastrophe modeling and pricing today, it could lead to significant unexpected volatility in their earnings and capital, resulting in pricing corrections that could have implications for the cost of reinsurance purchased by primary writers, thereby hitting their profitability and risk profiles as well,” added the report.