The costliest typhoon in Asia – and the third-costliest cyclone of...
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Investigation finds Rio Tinto legacy Bougainville mine poses life-threatening risks
The findings, released in a report on Friday, included "imminent,...
Economic threats continue to overshadow climate and cyber risks
Extreme weather events featured in the G20’s top five risks, as the...
$1.3 trillion of Asian wealth set to change hands in succession planning
Of the more than 1,000 publicly-listed family-owned or founded companies tracked by Credit Suisse globally, the clans of Asia dominate, with a combined market value of about $5.8 trillion. The total wealth of India’s family empires is valued at some $1.5 trillion...
General insurance industry in Singapore to reach $4.2bn in 2025:GlobalData
An analysis of GlobalData’s Global Insurance Database reveals that motor insurance was the largest general insurance line in Singapore with a GWP share of 25.8% in 2020. Electric vehicles sales grew by over 80% during September 2020–2021, supporting the demand for...
New Zealand to move into New Covid Protection System on Dec 3
The simplified framework has three levels: green, orange, and red. Vaccine certificates will provide greater freedom at each level. Wellington: New Zealand will move into the new Covid-19 traffic light system on December 3, which provides the ability for businesses...
Aon appoints Jillian Slyfield as Chief Innovation Officer
"In a world that is more volatile, interdependent and faster moving than ever before, the risks our clients face are becoming more frequent and severe and the need for better decisions has never been greater," said Aon CEO Greg Case . CHICAGO: Aon plc, a leading...
US Policyholders pull back from digital claims in post-pandemic insurance world
"We're seeing some customers are heading back towards saying 'I was willing to do that during lockdown, but I want to go back to a place where I can see people and speak to them directly'," said Zurich's Group Chief Claims Officer Ian Thompson Across financial...
US Cap on drug price hikes for privately insured sparks battle
Polls show that Americans across the political spectrum overwhelmingly favor government action to reduce drug prices. The chief cost complaints are: high out-of-pocket costs for patients, high and rising list prices, and high launch prices for new medicines. The Biden...
Willis Appoints Former Lloyd’s CEO Beale and 3 others as new directors
The announcement comes months after a pushback from U.S. regulators forced Willis and Aon to call off their $30 billion merger that would have created the world’s largest insurance broker, topping current leader Marsh & McLennan Companies Inc . London: Willis...
Australia Sues life insurer for causing financial harm to customers
The Australian Securities and Investments Commission (ASIC) has accused MLC, a part of Nippon Life Insurance, Japan’s biggest insurer, of service failures resulting from poor systems and controls over a period from 1999 to 2020, which caused financial harm to over...
Allianz Becomes China’s First Wholly Foreign-Owned Life Insurer
Many foreign financial institutions are looking to expand their onshore presence in China, taking advantage of a relaxation of ownership restrictions for foreign players in the asset management, insurance and securities broking sectors. Allianz said on Wednesday that...
South Africa officials Sued Over Plans to Construct New Coal-Fired Power Plants
South Africa relies on coal for more than 80% of its power and is the world’s 12th-biggest source of greenhouse gases. South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new...