The European Union's Court of Justice upheld a lower court's...
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TikTok sued by 13 US states and DC, accused of of harming younger users
TikTok said on Tuesday that it strongly disagreed with the claims,...
Geopolitical conflict: Global economy could lose $14.5 trillion over a 5-yr period, says Lloyd’s
With more than 80% of the world’s imports and exports – around 11...
Lloyd’s reports strong H1 2021 results with pre-tax profit of £1.4bn and 92.2% combined ratio
Premium rates increased by 9.9%, continuing the trend of 15 consecutive quarters of positive rate movement.
The combined ratio of 92.2% (HY 2020: 110.4% and 97.0% excluding COVID-19 claims) is a solid improvement with a 4.8 percentage point reduction on the previous year, excluding COVID-19. These results demonstrate the substantial turnaround of Lloyd’s profitability and performance.
Lloyd’s continued to provide significant support to its customers around the world, paying £9.4bn of claims, including to customers impacted by COVID-19 where 80% of the claims notified to date have been paid.
South African state insurer in talks over larger bailout
Sasria, the only insurer covering political violence in Africa’s most advanced economy, has suffered a sudden deterioration in its financial position after some of the worst violence in the post-apartheid era erupted in July soon after the arrest of former president Jacob Zuma.
Peter Zaffino to assume additional role of Chairman of AIG from Jan 2022
Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at year end 2021
World’s largest plant capturing carbon from air starts in Iceland
Swiss start-up Climeworks AG, which specialises in capturing carbon dioxide directly from the air, has partnered with Icelandic carbon storage firm Carbfix to develop a plant that sucks out up to 4,000 tons of CO2 per year.
That’s the equivalent of the annual emissions from about 790 cars. Last year, global CO2-emissions totalled 31.5 billion tonnes, according to the International Energy Agency.
Direct air capture is one of the few technologies extracting carbon dioxide from the atmosphere and is viewed by scientists as vital to limit global warming, blamed for causing more heatwaves, wildfires, floods and rising sea levels.
Russia’s Yandex says it repelled biggest DDoS attack in history
The DDoS attack, in which hackers try to flood a network with unusually high volumes of data traffic in order to paralyse it when it can no longer cope with the scale of data requested, began in August and reached a record level on Sept. 5.
“Our experts did manage to repel a record attack of nearly 22 million requests per second (RPS). This is the biggest known attack in the history of the internet,” Yandex said in a statement.
AXA exits insurance operations in Gulf region
The sale of AXA’s 28% shareholding in AXA Green Crescent Insurance Company (in UAE), representing cash consideration of USD 5 million (or Euro 4 million*), has received required regulatory approvals and is also expected to close shortly.
‘It’s connected to you’: Shared causes fuel surge in disasters
From Arctic heat and wildfires to Texas cold-weather power outages and Amazon deforestation, threats around the world that may seem unrelated are increasingly compounding each other, United Nations researchers said in a report released Wednesday.
The underlying causes of the rising risks – from climate change to lack of cooperation among governments and ignoring the value of nature in economic decision-making – are common across many of them, researchers said.
Cognizant inks $95 mn deal with US shareholders over India bribery charges
Shareholders accused Cognizant of failing to disclose payments made to obtain permits for facilities in “special economic zones,” including its Indian headquarters in Chennai, where it could enjoy tax and other benefits.
HDI Global first partnership on autonomous vehicle segment
Meryem Seyyar, Head of Digital Solutions commented: “This is the perfect time for HDI Global to take a lead and increase its support for the development of the Autonomous Vehicle & Systems ecosystem. AV’s will undoubtedly be a significant part of everyone’s future and the sooner we can establish our expertise and process within the space, the better we will be able to serve our partners moving forward.”
COVID-19 disruption causing many deaths from TB, AIDS in poorest countries, fund says
In a few of the world’s poorest countries, excess deaths from AIDS and tuberculosis (TB) could even exceed those from the coronavirus itself, said the head of the Geneva-based aid body, known as the Global Fund.