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Global reserve managers upbeat on growth but worry about politics
But 87% of the reserve managers surveyed flagged further escalation...
US insurers may take a hit of about $2.7 billion from damage caused by Hurricane Beryl
Triggered a record $44 million payout to the nation of Grenada from...
Financial firms should disclose emissions from activities they fund, group says
Worst-performing was the insurance industry, CDP said, with just 27% of companies the group had assessed providing plans to achieve the climate goals through their portfolios.
AM Best places credit ratings of Singapore Re under review with developing implications
This Credit Rating (rating) action follows an announcement made on the Singapore Exchange (SGX) on 21 April 2021 that Fairfax Asia Limited’s (Fairfax Asia) recent voluntary cash offer to purchase all issued and paid-up ordinary shares in the capital of Singapore Re, other than those already held by Fairfax Asia and other Fairfax Financial Holdings Limited (Fairfax group) companies, has been declared unconditional.
Chubb and Marsh partnership to provide $150 million cover for the COVAX Program for 92 low and middle-income countries
Through Chubb’s and Marsh’s collaboration, up to $150 million in insurance is provided for the COVAX No Fault Compensation Program to cover compensation payments to eligible individuals in the 92 lower-income countries and economies, known as the Gavi COVAX Advance Market Commitment (AMC) eligible economies.
Insurance broker Marsh led the global placement of the bespoke solution. Chubb is the lead insurer, supported by a further 10 insurers located in the U.S., U.K., Germany, Ireland, Switzerland and Bermuda.
Increased cancer risk for petroleum industry workers and people living near plants: New UN study
The findings add to increasing evidence of the health consequences of air pollution from petroleum extraction and refining.
1 in 4 global Covid-19 deaths occurred in Americas: Pan American Health Organization
“One in four Covid deaths reported worldwide last week took place right here, in the Americas. Nearly every country in Central America is reporting a rise in infections,” said Pan American Health Organization (PAHO) Director Carissa Etienne..
For the first time, Canada’s infection rates have surpassed the US Covid-19 infection rates, the PAHO director informed.
The surge of infections is being led by new Covid-19 variants, which slow vaccination rollouts, due to lack of vaccine availability, are also providing major setbacks for a number of countries in the Americas.
‘Bunch of garbage’: Campaign to ease pilot overload from antiquated safety warnings
The reform of the more than century-old system of Notices to Airmen (NOTAMs) – originally modelled after Notices to Mariners – is part of a wider push to make aviation simpler, particularly in the wake of two Boeing (BA.N) 737 MAX crashes.
India’s COVID-19 emergency is wake-up call to Africa -AU health chief
African nations generally do not have sufficient numbers of health care workers, hospital beds, oxygen supplies, and the continent of 1.3 billion would be even more overwhelmed than India if cases surged in a similar way, said John Nkengasong, head of the Africa Centres for Disease Control and Prevention.
“We are watching with total disbelief…What is happening in India cannot be ignored by our continent,” he told reporters.
India’s GDP to grow at 11% this fiscal, surge in COVID cases may put economic recovery at risk: ADB
For FY2022, India’s GDP is expected to expand at 7 per cent, it added.
China’s gross domestic product (GDP) is forecast to expand 8.1 per cent in 2021 and 5.5 per cent in 2022. East Asia’s GDP is expected to grow 7.4 per cent in 2021 and 5.1 per cent in 2022, it said.
Further, it said the gross domestic product (GDP) of South Asia is expected to rebound to 9.5 per cent this year, following a contraction of 6 per cent in 2020, before moderating to 6.6 per cent next year (2022), it said.
ADB said the economic growth in developing Asia is set to rebound to 7.3 per cent this year, supported by a healthy global recovery and an early progress on COVID-19 vaccines. The projected resurgence follows a 0.2 per cent contraction last year.
Russia fines Apple $12 mln for alleged app market abuse
The Federal Antimonopoly Service (FAS) said on Tuesday that U.S. tech giant Apple’s distribution of apps through its iOS operating system gave its own products a competitive advantage.Facebook, TikTok and Alphabet’s Google have also come under fire. The FAS said in a statement it had imposed a turnover fine on Apple of 906.3 million roubles ($12.1 million) for the alleged violation of Russian anti-monopoly legislation.
Global InsurTech sector sees record investment, surges 180 % to $2.55 billion in Q1 2021
Eight companies accounted for more than $1.13 billion in funding during the quarter, 44% of the total raised. That marks a new quarterly high for the number of mega-round fundraisings of $100 million or more.