The Red Sea disruptions amplify the impact on global trade from the...
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London mayor says Brexit has cost UK over $178 billion so far
Britain's National Institute of Economic and Social Research...
IMF says global economy to stay ‘resilient’ in 2024 but grow too slowly
IMF spokesperson Julie Kozack told a news briefing that the global...
ILS retrocession capacity further squeezed in the Pandemic era
The Best’s Commentary, titled, “The ILS Retro Market, COVID-19 and Pre-Emptive Trapping,” notes that the retro market is estimated at $20 billion, with the ILS market supplying approximately 75-80% of the capacity for this segment.
COVID-19 deaths to cross 317,000 in U.S. by December 1
At least 179,725 Americans have died from the respiratory disease, while reported U.S. infections have breached 5.8 million cases, according to a tally by Reuters.
Hurricane Laura slams Louisiana, kills six, but less damage than forecast
Laura was downgraded to a tropical depression by the NHC at 10 p.m., and the forecaster said it will move to the mid-Mississippi Valley later on Friday and then to the mid-Atlantic states on Saturday.
Laura caused less mayhem than forecasts predicted – but officials said it remained a dangerous storm and that it would take days to assess the damage. At least 867,000 homes and businesses in Louisiana, Texas and Arkansas remained without power on Thursday afternoon.
“This was the most powerful storm to ever make landfall in Louisiana,” Governor John Bel Edwards told a news conference. “It’s continuing to cause damage and life-threatening conditions.”
Financial technology companies funding in APAC up 9.1% in Q2; India sees 38% dip
“Fintech investments in Asia were primarily driven by India in the last quarter, but investors appeared to have shifted their attention to Southeast Asia and Australia,” S&P Global Market Intelligence Fintech Analyst Celeste Goh said.
Global protection gap for mortality, health and natural cat reach a new high of $1.24 trillion:Swiss Re
Globally, mortality resilience declined the most, driven by a widening of the mortality protection gap in the Asia-Pacific region, where China’s protection gap expanded due to rapidly growing household debt
Health resilience was stable despite some deterioration in emerging markets.
The global health protection gap widened by more than 5% to USD 588 billion.Natural catastrophe resilience was lowest of the three risk areas. Swiss Re Institute expects that health and mortality protection gaps will widen as households grapple with lower incomes, higher healthcare costs and the financial consequences of losing a breadwinner as a result of the pandemic.
EU needs more proactive climate change adaptation plans – insurers
Industry trade body Insurance Europe said the EU strategy needs to shift to more preventative behaviour,said Industry trade body Insurance Europe.
Alphabet’s Verily targets employer health insurance with Swiss Re partnership
Alphabet Inc’s life sciences division Verily’s new subsidiary, Coefficient Insurance Company, will be backed by the commercial insurance arm of Swiss Re, which is also making a minority investment in the new company.
“Coefficient is aimed at reducing blind spots and providing greater cost control mechanisms for self-funded employers,” Verily Chief Executive Officer Andy Conrad said in a statement.
Self-insurance arrangements are increasingly commonplace among larger employers, who typically pay health insurers to manage their healthcare benefits, but cover the costs of those claims themselves.
Coronavirus re-infections raise concerns about immunity
The cases, in Belgium and the Netherlands, follow a report this week by researchers in Hong Kong about a man there who had been re-infected with a different strain of the virus four and a half months after being declared recovered – the first such re-infection to be documented.
That has fuelled fears about the effectiveness of potential vaccines against the virus, which has killed hundreds of thousands of people, though experts say there would need to be many more cases of re-infection for these to be justified.
SugarCRM Inc acquiers AI platform for leveraging CRM data
Making sense of data is a perennial issue for companies. Deep learning models are limited by the quality and quantity of input data, which historically has been inaccurate or incomplete in real-life CRM implementations. Node’s deep learning models identify signals with up to 81% greater accuracy than heuristic-based approaches to deliver the tangible benefits of heightened performance and true predictability.
China vows support for Hong Kong as Financial Hub
Bankers and their lawyers from Hong Kong to Washington have been poring over the fine-print to reconcile how they can dodge major consequences from being squeezed between U.S. and Chinese laws. Running afoul of the legislations put companies at risk of fines or losing their license to do business.