He has deep insurance expertise; his former roles include group...
Category:
International News
Latest
Health sector most at risk from AI-related threats, Swiss Re
Christoph Nabholz, Chief Research & Sustainability Officer at...
Oil shipments at risk from rising sea levels, think tank warns
It said 12 out of the top 15 tanker terminals were expected to be...
Strong earthquake kills 6 people in Java, Indonesia; no tsunami warning
It was the second deadly disaster to hit Indonesia this week. On Sunday, a downpour triggered by Tropical Cyclone Seroja killed at least 165 people and damaged thousands of houses. Some were buried in either mudslides or solidified lava from a volcanic eruption in November, while others were swept away by flash flooding.
Covid-19 vaccine shortages hit 60 poor countries in ‘shocking imbalance’
On Friday, the head of the World Health Organization slammed the “shocking imbalance” in global COVID-19 vaccination. WHO Director General Tedros Adhanom Ghebreysus said that while one in four people in rich countries had received a vaccine, only one in 500 people in poorer countries had gotten a dose
The vaccine shortage stems mostly from India’s decision to stop exporting vaccines from its Serum Institute factory, which produces the overwhelming majority of the AstraZeneca doses that COVAX counted on to supply around a third of the global population at a time coronavirus is spiking worldwide.
COVAX says India’s Serum Institute bound to supply virus vaccines
SII partner AstraZeneca has already issued it a legal notice over delays to other shipments, even as many Indian states have complained of a shortage facing priority recipients.
Container backlog, global supply chain disruption from Suez Canal crisis could take months to clear
“The blockage of the Suez Canal will increase the negative impact on global supply chains in the coming weeks, as the availability of empty equipment, particularly in Asia and Europe, will be affected,” Reiner Heiken, chief executive of U.S. headquartered Hellmann Worldwide Logistics, told Reuters.
Egypt to release ship that blocked Suez canal once compensation deal reached
The Ever Given blocked the canal for six days, roiling global markets and costing the Suez Canal Authority $15 million a day in lost revenue, according to its calculation. Rabie said Egypt wants compensation for the losses, as well as the cost of freeing the vessel.
Holger Tewes-Kampelmann to succeed Amer Ahmed as CEO of Allianz Re
Ahmed was instrumental in the rationalisation of Allianz’s reinsurance buying programme, creating a global buying strategy that was more efficient as well as profitable for the group.
U.S. rolls out first update to flood insurance pricing in 50 years
National Flood Insurance Program currently provides $1.3 trillion in coverage through more than 5 million policies in the U.S., but has been losing money for years and is currently $20.5 billion in debt.
China imposes $2.8 bn penalty on Jack Ma’s Alibaba Group in monopoly probe
The company founded by billionaire Jack Ma used its platform rules and technical methods like data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage,” the investigation concluded.
Alibaba’s practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition“ in the domestic online retail market, according to the statement.
AIA Group establishes AIA Variable Capital company in Singapore
AIA is now exploring how the recently introduced VCC framework can support AIA’s investment programme with particular focus on balance sheet exposure to specialist and alternative investment strategies.
After Facebook, LinkedIn faces massive 500 mn users’ data leak: Report
The leaked data up on sale includes LinkedIn IDs, full names, email addresses, phone numbers, genders, links to LinkedIn profiles, links to other social media profiles, professional titles and other work-related data
“While users on the hacker forum can view the leaked samples for about $2 worth of forum credits, the threat actor appears to be auctioning the much-larger 500 million user database for at least a 4-digit sum, presumably in bitcoin,” the report mentioned.