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Through the offering, ports can now secure an additional cover...
New research from Beazley reveals AI is the biggest challenge facing digital health and wellness firms
Beazley’s research found fewer than a third (30%) buy the essential...
Global reinsurers’ profitability improve in H1, inflation and rate deceleration remain concern, Willis Re
Continued favourable pricing, particularly for commercial lines business, supported meaningful premium growth for the
majority of the (re)insurers
The average combined ratio for the (re)insurers was 93.7%,with every company posting a sub-100% combined ratio.
Despite the strong H1, two concerns weigh on the outlook: the decelerating rating environment and the prospect of higher inflation, said the report.
Ships resume berthing at halted port terminal in China
The partial closure of the world’s third-busiest container port worsened congestion at other major Chinese gateways such as Shanghai, Xiamen and Hong Hong, as ships diverted away amid uncertainty over how long virus control measures in the city would last.
Aon unveils a new team for its global operations
Joe Monaghan will assume the role of global growth leader and will have full responsibility for overall growth strategy. This includes developing innovation at scale and integrating practice groups, client segments, global specialties, capital advisory, securities and regional growth priorities and strategic growth leaders.
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.”