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Air Turbulence: Flights leaving Tokyo dominate roughest long-haul services list
Strong turbulence is produced when air streams traveling at...
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.
Generali in talks to buy AXA assets in Malaysia, sources say
“Asia is a fast-growing market and a focus for Generali,” one of the sources said.
Generali had been looking at a series of AXA assets in Malaysia worth around 700 million euros but the sources said it was in talks to buy the French insurer’s non-life business.
Europe’s third biggest insurer has been in Malaysia since 2015 and the deal could make it the second-biggest property and casualty operator in the country.
Dislodged ship held in Suez Canal as talks continue over $916 million claim
The decision to hold the ship could impact its cargo, said Jai Sharma, a lawyer at Clyde & Co. “I anticipate that there will be companies that are going to air freight cargo replacements,” he said.
Aon’s EU concessions for $30 billion Willis bid may not be enough:
Last Friday, the London-headquartered company submitted concessions to the European Union’s competition watchdog, which did not disclose details in line with its policy. The watchdog often requires acquiring companies to make concessions that will strengthen rivals before giving its go-ahead.
Aon has proposed selling Willis Re, its biggest concession, and Willis’ German retirement benefits and consulting business. It has also offered to sell Willis’ insurance broking activities in France, including French unit Gras Savoye, as well as in Germany, Spain and the Netherlands, one of the people said.
Life insurance industry in Malaysia to reach $15.7bn in 2025: GlobalData
Amrita Sheela, Insurance Analyst at GlobalData, comments: “Malaysian life insurance industry is driven by retail consumer segment, which accounted for over 90% of total premiums in 2020Indonesia. The economic slowdown and uncertainty triggered by the COVID-19 pandemic restricted consumer spending and impacted life insurance business. As a result, life insurance industry grew by 4% in 2020 against 9% growth registered in 2019.”
New global compact aims to drive down diabetes deaths, boost insulin access
“The number of people with diabetes has quadrupled in the last 40 years. It is the only major noncommunicable disease for which the risk of dying early is going up, rather than down. And a high proportion of people who are severely ill in hospital with COVID-19 have diabetes.”
More than 420 million people worldwide live with diabetes, a group of chronic diseases characterized by elevated blood sugar, which can cause damage to the heart, blood vessels, eyes, kidneys and nerves.
IFAD and IsDB commit $500 million to address hunger and climate change in poor rural communities
“Both institutions strive to improve the lives of the world’s most vulnerable people and contribute to ending poverty. Through this agreement we can strengthen our impact in areas of common interests, including improving access to markets and rural financial services, increasing climate resilience and using technology and innovation to maximize impact.”said Gilbert F. Houngbo, President of IFAD
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US calls for pause on Johnson & Johnson vaccine after clotting cases
All six recipients were women between the ages of 18 and 48. One woman died and a second woman in Nebraska has been hospitalized in critical condition, the officials said.