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ACORD announces new global advisory council to drive industry-wide collaboration and digitalisation
“With the accelerating pace of digital transformation in our...
EU to probe TikTok faces over risks to minors, may pay hefty fines
The bloc singled out 19 online platforms and search engines last...
Don’t stop us paying dividends, European insurers tell regulators
The pandemic will likely lead to between $50 and $100 billion in losses for insurers, the Insurance Europe trade body said in response to a consultation by the International Association of Insurance Supervisors (IAIS) on the impact of the pandemic
Chedid Capital and Ascoma Gr join forces, to create a leader in broking in ME and Africa
This transaction translates Chedid Capital’s strategic vision of being a leader in insurance broking, serving companies in the Middle East and Africa; these markets represent strong development potential.
90% of China’s Sinovac staff, families took coronavirus vaccine, says CEO
Data gathered from the programme could offer evidence of the vaccine’s safety, but such data, which is not part of the registered clinical trial protocols, will not be used as main materials that regulators review in judging whether to approve the vaccine for commercial use, Yin said.
McDonald’s takes action against Australia’s Burger King over ‘Big Jack’
McDonald’s is also seeking damages, interest and costs, as well as an order that Hungry Jack’s destroy all “promotional materials,” which include physical and electronic advertising, the paper reported.
China offers experimental Coronavirus vaccine to Aviation workers
It is not clear yet which candidate vaccine will be given and how many people will be vaccinated.t least two experimental vaccines, one from Sinovac Biotech Ltd and the other from China National Biotec Group, have been approved for emergency use in China.
“World must be more ready for next Pandemic” : WHO
“This will not be the last pandemic,History teaches us that outbreaks and pandemics are a fact of life. But when the next pandemic comes, the world must be ready – more ready than it was this time,”” World Health Organization chief Tedros Adhanom Ghebreyesus told a news briefing in Geneva
Typhoon Haishen hammers southern Japan with high winds and power outages
Airlines have canceled more than 500 flights departing from Okinawa and southern Japan, NHK said. Bullet train service in southern and western Japan was suspended, it said.
Japan’s coastguard on Saturday suspended for a second day its search for crew missing from a ship that capsized in the East China Sea last week with a cargo of cattle.
Total expected onshore U.S. insured losses from Hurricane Laura around $9bn – $13bn:RMS
RMS estimates an additional US$1.0bn to US$2.0 billion of insured losses to offshore platforms, rigs, and pipelines in the Gulf of Mexico, due to wind and wave-driven damages. Offshore losses were estimated using the September 2020 vintage of the RMS Offshore Platform Industry Exposure Database
Swiss Re retains top spot in AM Best’s top 50 ranking of global reinsurers
The top 10 accounted for 69% of the top 50’s total GPW. In recent years, this percentage has consistently been around 70%, which reinforces AM Best’s sentiment that the industry’s largest reinsurers continue to house disproportionately sizable amounts of risk, despite cedants’ efforts to diversify their reinsurance panels and spread out their counterparty risk.
The top 50 reinsurance groups reported an average combined ratio of 102.4 in 2019, a modest deterioration from the 2018 combined ratio of 100.9. Losses were driven primarily by social inflation in U.S. casualty business and typhoons in Asia, as well as loss creep from 2018 storms.
India’s GIC Re,with a gross premium of $6.86 billion,is the12th largest company(11th in 2018 list) in the AM Best list of top 50 global reinsurers
WHO says widespread vaccinations against Covid-19 are not expected until middle of next year
“We are really not expecting to see widespread vaccination until the middle of next year,” Harris told a UN briefing in Geneva. “This phase 3 must take longer because we need to see how truly protective the vaccine is and we also need to see how safe it is.”