In March, the group's leader said the group was expanding its...
Category:
International News
Latest
Nearly half of China’s major cities are sinking, researchers say
Subsidence already costs China more than 7.5 billion yuan ($1.04...
Binance founder Changpeng Zhao sentenced to 4 months in prison for allowing cybercriminals and terrorist grps to trade on cryptocurrency exchange
Changpeng Zhao, founder & former CEO, Binance It is the first...
Citigroup’s retreat highlights global banks’ struggle in China, India
“The ability to scale rapidly is a very important factor, and that’s one of the reasons why local banks move so fast, and are in a better competitive position in retail and consumer banking,” said Joydeep Sengupta, senior partner at McKinsey in Singapore. “For foreign banks, it’s likely to get harder to scale profitability.”
COVID-19 predominantly transmitted through air: Lancet study cites ‘strong evidence’
“The evidence supporting airborne transmission is overwhelming, and evidence supporting large droplet transmission is almost non-existent,” Jose-Luis Jimenez, a chemist at the Cooperative Institute for Research in Environmental Sciences (CIRES) and the University of Colorado Boulder said.
“It is urgent that the World Health Organization and other public health agencies adapt their description of transmission to the scientific evidence so that the focus of mitigation is put on reducing airborne transmission.”
U.S. P/C insurers perform well in 2020 despite Pandemic, higher Cat losses:AM Best
According to the report, P/C industry revenue declined slightly to $560.7 billion, driven by a significant drop of 18.8% in net investment income. Expenses grew by 4.1% in 2020, far exceeding a modest increase in premium revenue; the catastrophe losses and a sizable increase in policyholder dividends also more than countered the increase in premium revenue.
Seven European countries to halt export finance for fossil fuels
“We are totally determined to stop all export guarantees financing fossil fuels while taking into account each country’s industrial specifics and the impact on jobs,” Le Maire said.
EU regulators set July 27 deadline for deadline on Aon, Willis deal
Aon, which announced the deal a year ago to create the world’s largest insurance broker ahead of world No. 1 Marsh & McLennan Companies Inc, offered last Friday to sell assets in five European nations to resolve EU competition concerns.
The EU antitrust watchdog is now seeking feedback from rivals and customers before deciding whether to demand more concessions, clear or block the deal.
Tokyo Olympics might yet be cancelled due to COVID-19 – Japanese official
“If it seems impossible to do it any more, then we have to stop, decisively,” Toshihiro Nikai, secretary-general of the Liberal Democratic Party, said in comments to broadcaster TBS.
Covid 19 Pandemic: 9 in 10 Singaporeans still struggling with their mental health, men and younger adults most worried
Wong Sze Keed, chief executive officer of AIA Singapore, says, “While our nation is heading for a post-pandemic recovery, mentally, we are still trying to navigate our way out of COVID-19 uncertainities. It is not enough to only take care of our physical health. This conviction drives our holistic approach to protect the many aspects of our customers’ wellbeing – such as financial, physical, and mental health – to enable everyone to truly lead healthier, longer, better lives.”
SCOR’s Apr 1 Indian renewal kitty swells by 21% to EUR 178 million
SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange rates to EUR 600 million, with a 4.3% overall increase in pricing.
The bulk of the portfolio renewed on April 1 (64%) is in the Asia-Pacific region, of which Japan and India are the most significant markets (each accounting for approximately 28-29% of total premiums up for renewal):
3.1 million external attacks on Cloud user accounts in Q4 2020: McAfee report
“Ransomware and malware targeting vulnerabilities in work-related apps and processes were active and remain dangerous threats capable of taking over networks and data, while costing millions in assets and recovery costs,” Samani added.
Malware was the most reported cause of security incidents in Q4, followed by account hijackings, targeted attacks and vulnerabilities.
Insurance startup Clearcover raises $200 million from Eldridge, others at $1 billion valuation
The COVID-19 pandemic has reduced the importance of physical networks of agents in insurance and helped “insurtech” providers like Clearcover, which uses artificial intelligence and big data to reduce costs and better target customers.
Global investment in the sector jumped 12% to $7.1 billion for 2020, a record high, according to Willis Towers Watson.