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International News

Apollo and Athene to merge in all-stock transaction

The merger of Apollo and Athene combines two growth companies providing products and services that are in high demand – investment returns and retirement income. The stronger capital base and complete alignment will allow the company to rapidly scale asset and liability origination, broaden distribution channels and act as a leading global solutions provider. The company will operate in an environment powered by strong market and demographic trends.

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Covid-19 travel insurance becoming a vacation staple

The market for all types of Covid-19 travel coverage is estimated to be between $30 billion to $40 billion a year, according to travel insurance consultant Robyn Ingle, with companies like AXA and AIG underwriting protection.

Airline bookings are on the rise in some regions, driving cautious hopes of a revival in summer traffic, but also raising fears among tourist destinations of getting hit with bills should vacationers become stranded by the virus.

More than a dozen countries from Aruba to Thailand require Covid-19 coverage for visitors, with Jordan the latest to consider such protections, organizers of an emergency services plan told Reuters.

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Saudi Arabia’s bold plan to rule the $700 billion hydrogen market

Hydrogen is morphing from a niche power source — used in zeppelins, rockets and nuclear weapons — into big business, with the European Union alone committing $500 billion to scale up its infrastructure.
As governments and industries seek less-polluting alternatives to hydrocarbons, the world’s biggest crude exporter doesn’t want to cede the burgeoning hydrogen business to China, Europe or Australia and lose a potentially massive source of income.So it’s building a $5 billion plant powered entirely by sun and wind that will be among the world’s biggest green hydrogen makers when it opens in the planned megacity of Neom in 2025.

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