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CrowdStrike Chaos: (Re)Insurers could withstand preliminary loss estimates, says Fitch
``We expect claims will be mostly within the retentions of primary...
US, European regulators sign joint statement on effective AI competition
Generative AI has rapidly evolved in recent years and the...
EU takes big step toward relaxing travel for vaccinated
The EU “Council will now recommend that member states ease some of the current restrictions” for those who have been vaccinated, said EU Commission spokesman Christian Wigand.
With $118bn losses, Aviation insurance industry seeks rate rises in 2021 renewals
• The International Air Transport Association warned that the industry is likely to continue to lose around $5-6billion per month in 2021 and passenger numbers are only likely to fully recover by 2024
USA and China to lead global insurance industry’s growth in 2021: Allianz
the USA (+5.3%) and China (+13.4%) are likely to be the two growth engines. Following the sharp slump in the previous year, the recovery in the life segment (+5.7%) will be somewhat stronger than in the p&c segment (+4.2%).
The strong growth should continue in subsequent years, driven by the increased focus on sustainability and the further rise of the emerging markets.
Globally, average growth of over 5% over the next ten years appears possible.
UK ‘increasingly confident’ that vaccines work against variant from India
Neil Ferguson, an epidemiologist at Imperial College London, said there was a “glimmer of hope” from the latest data that the transmissibility of the variant might be lower than first feared.
Buffett’s Berkshire buys a $943 million stake in Aon
At Berkshire’s May 1 annual meeting, Buffett said his Omaha, Nebraska-based company would like to spend $70 billion or $80 billion, but would probably not get a chance until the market offered better values.
Laurent Rousseau to succeed Kessler as SCOR’s CEO
The Board’s appointment of Kessler as non-executive Chairman following the General Meeting of June 30, 2021, will help to ensure the continuity of the Group’s strategy and to perpetuate its values.
Benoît Ribadeau-Dumas had been appointed as deputy CEO with effect from January 1, 2021, with a view to becoming CEO in 2022
$10 trillion lost globally due to COVID-19 pandemic and lockdowns:WHO Report
A report by the panel cited estimates that more than $10 trillion has been lost globally because of the COVID-19 pandemic and lockdowns to control its spread that has closed businesses and confined people to their homes. “Every effort to integrate beforehand health and finance will largely pay itself,” said Mario Monti ,former Italian prime minister chairs the WHO’s Pan-European Commission on Health and Sustainable Development .
It has recommended the G20 establish a Global Health Board which would work to prevent future pandemics by identifying risks, setting global benchmarks for preparedness, and promoting investment in health infrastructure.
HX launches in Asia to bring its data, digital and analytics capabilities closer to clients and carriers across the region
Goh Chye Huat, CEO, Howden Asia, said: “Our businesses across Asia have experienced tremendous growth over recent years. We have reached a scale where it is vital to have a market-leading engagement and distribution strategy. HX’s data and analytics capabilities are unrivalled in the market and we are delighted to have that offering available for our clients and colleagues in Asia.”
Ransomware attack hits 4 Asian countries of AXA subsidiary
he ransomware attack impacted information technology operations in Thailand, Malaysia, Hong Kong and the Philippines, the statement said. “As a result, certain data processed by Inter Partners Asia (IPA) in Thailand has been accessed,” it said.
India second largest insurtech market in APAC: S&P Report
”India is the second largest insurance technology market in Asia-Pacific. India has at least 66 insurtech companies and accounted for 35 per cent of the USD 3.66 billion in insurtech-focused venture capital invested in the APAC region. ”Insurance technology investors are attracted to India since it is one of the fastest-growing insurance markets in the world,” S&P Global Market Intelligence fintech analyst Sampath Sharma Nariyanuri said.