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European regulator says it would pull Boeing approval if needed
European Union Aviation Safety Agency's (EASA) acting executive...
Chemicals in plastics far more numerous than previous estimates, report says
While the United Nations Environment Programme (UNEP) had...
New Zealand declares climate emergency, promises carbon neutral govt by 2025
In her first term she passed a Zero Carbon Bill, which sets the framework for net zero emissions by 2050 with an exemption for farming, and banned new offshore oil and gas exploration.
Nearly half of New Zealand’s greenhouse gas emissions come from agriculture, mainly methane.
The government on Wednesday promised the public sector will achieve carbon neutrality by 2025. Government agencies would have to measure and report emissions and offset any they can’t cut by 2025.
Markel Singapore appoints Marine Underwriter
Before joining Markel, she was an underwriter at MS Amlin where she was responsible for underwriting a P&I portfolio. Prior to that, she was at Charles Taylor developing its P&I portfolio
UK approves Pfizer-BioNTech COVID-19 vaccine, first in the world
“The vaccine will be made available across the UK from next week.”
Britain’s vaccine committee will decide which priority groups will get the jab first such as care home residents, health and care staff, the elderly and people who are clinically extremely vulnerable.
Charles Taylor appoints Bobby Gracey as global head of fraud
Damain Ely, CEO, Charles Taylor Adjusting, said “As Insurers across the world look to control claims costs, the conditions for a greater level of claims fraud can increase, so developing counter fraud capabilities becomes essential. This is the time to support our clients further by developing our counter fraud expertise. Bobby has demonstrated his strong knowledge and experience, making him the obvious choice to lead our global fraud function. We are delighted that he is joining us.”
Fossil fuel production far exceeds climate targets, U.N. says
the 2015 Paris Agreement, requires fossil fuel production decreasing by around 6% per year between 2020 and 2030.
Instead, countries are planning and projecting an average annual increase of 2%, which by 2030 would result in more than double the production consistent with the 1.5C limit, the report said.
Allianz to acquier Westpac Banking Corp’s general insurance business
It will also enter into a new 20-year exclusive agreement for the distribution of general insurance products to Westpac customers in an expansion of its existing bancassurance agreement, which has been in place since 2015.Under the new distribution agreement, along with the existing products of motor, caravan and trailer and travel insurance,
Fairfax sales RiverStone Europe to CVC Capital
“RiverStone Europe is an industry leader in run-off insurance services, and CVC’s scale and vision will give RiverStone Europe, under the continued leadership of Luke and his management team, the opportunity to further grow the business. Nick and Luke are also fully supportive of this transaction, based on their strong beliefs that it was the best way for RiverStone Europe to continue to grow and pursue run-off transactions. We wish Luke and all of the employees at RiverStone Europe much success in the future. Fairfax remains committed to continuing to grow its other European businesses, including its Lloyd’s of London activities,” said Watsa.
Cyclone Burevi slams into eastern Sri Lanka
The cyclone is likely to damage coastal buildings and power lines and unleash flash floods, the island’s disaster management center said, advising those living near its path to stay indoors.Those evacuated, from the Trincomalee district expected to be hit the hardest, have been moved into 237 relief centers until the cyclone passes, disaster officials said.
Factbox: When and which COVID-19 vaccines are likely to be available in Asia
Japan has deals to purchase 120 million doses from Pfizer/BioNTech in the first half of next year, 120 million from AstraZeneca, of which first 30 million will be shipped by March 2021, and 250 million from Novavax.
It is also in talks with Johnson & Johnson and has a deal with Shionogi & Co.
Munich Re aims for a profit of €2.8bn in 2021
“We expect to generate a profit of clearly above 1bn € this year. The pandemic has naturally had a considerable impact on our result. But the burdens arising from COVID-19 are financially manageable for Our business is clearly on track. Thanks to our strong balance sheet, we are in a very good position to exploit current market opportunities. In the coming year, we plan – despite anticipated further COVID‑19 losses – to meet the profit target of €2.8bn as envisaged prior to the pandemic,”said Christoph Jurecka,,CFO, Munich Re ,