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Marsh partners with Ukrainian govt and insurers for cost-effective covers for Black Sea grain shipments
Denys Shmyhal, Prime Minister of Ukraine, said: “The launch of the...
Salaries in Southeast Asia to rise in 2024 defying economic slowdown concerns: Aon
Attrition rates across southeast Asia have dropped in 2023 compared...
Asian waters account for most shipping losses,global numbers hit record low:AGCS
According to the report, the South China, Indochina, Indonesia and Philippines maritime region remains the top loss location with 12 vessels in 2019 and 228 vessels over the past decade – one in four of all losses. The Japan, Korea and North China region saw 2 vessels lost in 2019 and is the third largest loss location overall with 104 since 2010. High levels of trade, busy shipping lanes, older fleets, typhoon exposure, and safety issues on some domestic ferry routes are contributing factors. However, in 2019, losses declined for the second successive year, mirroring a global trend.
Willis appoints Fabien Conderanne as Regional Head of Financial Solutions in Asia Pacific
Scott Burnett, Head of Asia and Head of Corporate Risk and Broking for Asia at WTW adds, “We now live in extraordinary times where the relevance of our solutions and services to our clients has never been more urgent. We invest the time and resources to understand each client’s business, as well as the economic and credit risks that arise from operating in a world where geopolitical threats and regulations are in constant flux. Fabien’s appointment reflects both a commitment to grow our talent and support our clients so that they can build resilience, wherever they operate in Asia.”
Markel appoints Head of Renewable Energy,first ever based in Asia
Commenting on the new appointment,Rohan Davies, divisional managing director of energy, Market, said,“Tom’s solid track record and wealth of international experience in renewable energy are invaluable as we continue our ambitious plans for growth in this important sector.“Markel has a strong reputation of delivering leading risk-transfer products and service in the energy space. With Tom strategically based in the rapidly growing Asian market, his appointment as Markel’s new global head is a reflection of our commitment to renewable energy in our global portfolio.”
WHO warns that coronavirus crisis may get ‘worse and worse and worse
“Let me be blunt, too many countries are headed in the wrong direction, the virus remains public enemy number one,” WHO Director General Tedros Adhanom Ghebreyesus told a virtual briefing from the U.N. agency’s headquarters in Geneva.
Climate change, COVID-19 stoke wildfire’s economic risk, Fed says
Wildfire risk is a combination of the likelihood of a big fire happening – which climate scientists have shown has been rising as the planet warms – and the economic destruction, in terms of lives and livelihoods destroyed that it could cause.
S&P slashes emerging market forecasts,warns of permanent scars
All emerging economies would suffer lasting contractions from the pandemic. It said the gap relative to the pre-coronavirus GDP path could be as large as 11% of output in India, 6%-7% in most of Latin America and South Africa, 3%-4% in most of Emerging Europe, and 2% in Malaysia and Indonesia.
WHO reports record daily increase in global coronavirus cases, up over 230,000
The biggest increases were from the United States, Brazil, India and South Africa, according to a daily report. The previous WHO record for new cases was 228,102 on July 10. Deaths remained steady at about 5,000 a day.
Coronavirus bringing record $1 trillion of new global corporate debt in 2020 – report
“COVID has changed everything,” said Seth Meyer, a portfolio manager at Janus Henderson, the firm that compiled the analysis for a new corporate debt index. “Now it is about conserving capital and building a fortified balance sheet”.
China’s bank and insurance sectors facing rises in non-performing assets – regulator
Asset quality at some small and medium-sized financial institutions is deteriorating due to the coronavirus pandemic, the regulator said in a statement on its website.
Floods, landslides kill 23 in Nepal, dozens missing
In the southern plains bordering India, the Koshi river, which causes deadly floods in the eastern Indian state of Bihar almost every year, was flowing above the danger level, police said.
Landslides and flash floods are common occurrence in mountainous Nepal during the June-September monsoon every year.