The Swiss government had violated the human right to a private and...
Category:
International News
Latest
Global accounting rule ends leeway over operating profit
Banks and insurers will have to include interest, a key part of...
March marks yet another record in global heat
"It's the long-term trend with exceptional records that has us very...
U.S. authorizes Johnson & Johnson’s COVID-19 vaccine
The single-shot vaccine is highly effective in preventing severe Covid-19, including against newer variants, the Food and Drug Administration (FDA) said before giving it a green light.
UK health insurers’ profitability still strong despite coronavirus disruption:Fitch
Claims have reduced due to restricted hospital access, but we do not expect increased profits for insurers – any “excess” profits are likely to be used to meet the expected surge in demand from postponed elective surgeries or returned to policyholders through premium rebates.
S&P insurers moving cautiously in the aftermath of massive Texas Ice storm Uri
According to the catastrophe modelling agency Karen Clark & Co, Winter Storm Uri will cost the industry about $18 billion. In comparison, Hurricane Harvey caused $30 billion in industry insured losses in the U.S. and about $19 billion in Texas.
Specialty insurer and reinsurer SiriusPoint launches with over $3bn in capital
“We aspire to be a disruptive force in the industry and drive technology innovation – with skilled underwriting at the core of everything we do. We have set a goal to challenge the status quo and define new ways of conducting business with diversity of thought and expertise. I am very excited about our future. We are building a company and a culture we can be proud of.”
Oxford University says research not affected after media reports of COVID lab hack
“We have identified and contained the problem and are now investigating further. There has been no impact on any clinical research, as this is not conducted in the affected area,” an Oxford spokesman said, adding that the university was working with the National Cyber Security Centre (NCSC) on the incident.
Global insurers unite to tackle climate risk with launch of Geneva Association Task Force
Jad Ariss, Geneva Association Managing Director, said: “In 2020 alone, the world witnessed massive wildfires in California and Australia, historic floods in China and a record hurricane season in the Atlantic. The societal impacts of climate change have become ubiquitous, and individuals and institutions must fully commit now to confronting the climate crisis. Insurers are obvious, strong leaders on global climate action, given their core functions – managing risk and investing – and our industry-led initiative demonstrates that they are proactively rising to the occasion.”
Boeing to pay $6.6 million to FAA over safety lapses
The new settlement covers FAA allegations that Boeing managers exerted undue pressure on Boeing workers performing certification duties for the FAA at the company’s South Carolina plant. The FAA also alleged Boeing “failed to follow its quality control processes” and “interfered with an airworthiness inspection of a Boeing 787-9.”
Climate pledges for 2030 put world far off 1.5C goal, UN warns
Only two of the 18 largest emitters – Britain and the European Union – had so far presented an updated “nationally determined contribution” (NDC) containing a “strong increase” in their emissions reduction targets, she noted. “Other major emitters either submitted NDCs presenting a very low increase in their ambition level or have not presented NDCs yet,” she added in a statement.
Carbon-cutting pledges by countries nowhere near enough:UN
Fewer than half of the world’s countries, accounting for 30 per cent of the world’s carbon emissions, submitted targets by the deadline. Only seven of the top 15 carbon polluting nations had done so.
Munich Re 2020 profit plunges 55% as pandemic takes toll
Pandemic-related claims alone amounted to more than 3.4 billion euros.
“In spite of the tremendous challenges posed by COVID-19, Munich Re closed out 2020 with a clear profit,” Chief Executive Joachim Wenning said.