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China’s population drops for 2nd year, raises long-term growth concerns
The National Bureau of Statistics said the total number of people...
Climate change may claim 14.5 mn lives by 2050: WEF
Flooding alone is estimated to cause 8.5 million deaths by 2050,...
AM Best revises Swiss re’s credit rating outlook to negative
The negative outlook on the Long-Term ICR reflects pressure on Swiss Re’s operating performance assessment, following non-life underwriting losses in recent periods, partly driven by the casualty book of business.The group has implemented actions to improve the performance of certain sub-segments of its portfolio. However, these actions have had limited impact on results so far.
For first time,world records 1million coronavirus cases in 100 hours-Reuters tally
The pandemic has now killed more than 590,000 people in almost seven months, edging towards the upper range of yearly influenza deaths reported worldwide. The first death was reported on Jan. 10 in Wuhan, China before infections and fatalities then surged in Europe and later in the United States.
The Reuters tally, which is based on government reports, shows the disease is accelerating the fastest in the Americas, which account for more than half the world’s infections and half its deaths.
Insurers favor warehouse investments over offices as pandemic hastens real estate shifts
Pandemic lockdowns have spurred companies to re-examine their need for office space if employees continue working at home in the post-pandemic world, a trend that could drive down office occupancy rates and rents.
India lifted 271 mn people out of poverty between FY06-16, says UN report
Covid-19 is the latest crisis to hit the globe, and climate change all but guarantees more will follow soon. Each will affect the poor in multiple ways. More than ever, we need to work on tackling poverty and vulnerability to poverty – in all its forms,” Director of the Human Development Report Office at UNDP Pedro Coneico said.
Russia to mass produce experimental COVID-19 vaccine – wealth fund head
More than 100 possible vaccines are being developed to try to stop the pandemic. At least two are in final Phase III human trials, according to World Health Organization data – one being developed by China’s Sinopharm and the other by AstraZeneca and the University of Oxford.
Novartis to provide ‘no profit’ COVID-19 drugs to low income countries
“We shouldn’t underestimate the stress that COVID puts particularly on fragile health systems,” Hegemann said, adding Novartis hoped to work with health authorities, faith-based organisations and NGOs to eliminate big mark-ups. “We are not targeting classical commercial distribution channels, but very direct channels.”
Swiss Re and PGGM enter into second private sidecar transaction
The transaction is a further milestone for Swiss Re’s Alternative Capital Partners team, which was formed in 2019 to manage Swiss Re’s third-party capital activities. Alternative Capital Partners enables Swiss Re to grow its natural catastrophe book and proactively manage its risk appetite by making use of a broad range of third-party capital and retrocession instruments.
West African Coast re-emerges as hotspot for Piracy,Allianz Says
About 45% of global piracy occurred in the Gulf of Guinea in the first quarter of this year, according to Allianz. There were 47 reported incidents, up from 38 a year ago, mostly targeting container ships and bulk carriers.
Twitter hacking spree alarms experts concerned about the platform’s security
“If the hackers do have access to the backend of Twitter, or direct database access, there is nothing potentially stopping them from pilfering data in addition to using this tweet-scam as a distraction,” said Michael Borohovski, director of software engineering at security company Synopsys.
U.N. aid chief to G20 on coronavirus: ‘Step up now or pay price later’
The United Nations increased its humanitarian appeal by more than a third to $10.3 billion to help 63 states, mainly in Africa and Latin America, tackle the spread and destabilizing effects of the coronavirus. This is up from the world body’s initial $2 billion request in March, then $6.7 billion in May.
So far, Lowcock said, the United Nations has only received $1.7 billion.