At an event in southern Brazil, President Luiz Inácio Lula da Silva...
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South Africa moves to implement national health bill despite resistance
Cyril Ramaphosa,President, South Africa The legislation will...
Severe thunderstorms drive insured losses to $ 60 billion in first half of 2024, Swiss Re
Balz Grollimund, Head of Catastrophe Perils at Swiss Re, said: "In...
Insured losses from Europen floods between $6 billion– $7.7 billion:RMS
The loss estimate includes insured property and business interruption loss to residential, commercial, industrial, automobile, and infrastructure lines and accounts for the potential of post-event loss amplification and extended business interruption. It excludes losses observed in the Netherlands, which sits outside of the model domain, and losses in Switzerland, Bavaria and Saxony in Germany, and Austria, which were caused outside the time window of the heaviest rainfall.
17 major global reinsurers record $ 6.1 billion Covid-19 pandemic-related losses in H1:Fitch
Pretax income for life and health reinsurance business improved notably in 1H21, despite an increase in mortality losses from the pandemic to USD2.5 billion in 1H21 (1H20: USD1.3 billion), as investment results rebounded. Net premiums earned (NPE) increased in 1H21 for life and health reinsurers overall, with six of the eight companies reporting higher NPE.
Ki appoints Richard Hodgson as its chief technology officer
Mark Allan, CEO, Ki said: “At Ki, we are taking a technology first approach to underwriting. We are therefore delighted that Richard joins Ki in the newly created role of CTO. Richard will bring an entrepreneurial approach and proven experience in scaling technology in a high-growth business as we look to continually explore new opportunities to provide a best-in-class and differentiated digital service to the market.”
HCL to transform Munich Re workplace services in 40 countries
“The last 12 months have triggered the biggest change in how companies empower and support their employees,” said Robin Johnson, Group CIO of Munich Re.It will support Munich Re’s global workforce in multiple languages including German, Spanish and Mandarin from near-shore locations. It will also implement a personalised service desk solution and leverage the power of automation and self-service capabilities to improve efficiency and enhance employee user experiences.
AXA Hong Kong and HSBC jointly launch Overseas StudySurance
Kenneth Lai, P&C Distribution Director, AXA Hong Kong and Macau, said, “Education is the key to success. Many parents would provide their children with the best education by letting them study abroad. However, the best protection is also essential to ensure a holistic support and care during their overseas study journeys. As the largest general insurer in Hong Kong, we are delighted to partner with HSBC to offer the comprehensive student protection ‘Overseas StudySurance’ – a plan with market-leading medical expenses and personal accident coverage, to provide peace of mind for students and their parents when they pursue their overseas studies.”
Pandemic threatens Asia-Pacific’s progress on global development goals, says ADB
Developing Asia’s extreme poverty rate – or the proportion of its people living on less than $1.90 a day – would have fallen to 2.6% in 2020 from 5.2% in 2017 without COVID-19, but the crisis likely pushed last year’s projected rate higher by about 2 percentage points, ADB simulations showed.
The figure could even be higher considering the inequalities in areas like health, education and work disruptions that have deepened as the COVID-19 crisis disrupted mobility and stalled economic activity, the ADB said in a flagship report on the region.
“City of London supports 15% of global carbon emissions”
“We’ll be targeting the City of London because it’s time that people understand the real contribution of the UK to this crisis,” lawyer and XR activist Tim Crosland told reporters.
“The City of London is the arch financier of the carbon economy. It supports 15% of global carbon emissions. It hosts BP, Shell, Glencore, Anglo American, and Russian oil and gas companies such as Gazprom and Rosneft.”
Haiti to receive a record payout of $40M from parametric catastrophe insurer CCRIF
CCRIF SPC is a segregated portfolio company, owned, operated and registered in the Caribbean. It limits the financial impact of catastrophic hurricanes, earthquakes and excess rainfall events to Caribbean and Central American governments by quickly providing short-term liquidity when a parametric insurance policy is triggered.
It is the world’s first regional fund utilising parametric insurance, giving member governments the unique opportunity to purchase earthquake, hurricane and excess rainfall catastrophe coverage with lowest-possible pricing.
This payout,representing CCRIF’s largest single payout to date. has activated the full coverage limit under the country’s parametric insurance policy for earthquakes for the 2021/22 policy year.
As CCRIF’s insurance policies are parametric, payouts are made within 14 days of an event.
Mosaic Insurance and DXC Technology launch innovative technology platform for Specialty Insurance
Together with DXC’s business-process expertise and technology, Mosaic, a next-generation global specialty insurer, will refine underwriting, simplify transactions, and process claims and assess risks faster.
Mosaic also streamlines end-to-end processing and provides real-time access to data.
Controversial Russian pipeline ready to ship Gas,finds difficult to to obtain insurance and certification
More than 99% of the pipeline has been completed, according to its operator. But before carrying the first gas to Germany, the link needs to obtain insurance and certification, a task made difficult by U.S. sanctions that restrict providing these services to the project.