London-headquartered Miller said it had teamed up with British...
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Musk’s X is the biggest purveyor of disinformation, EU official says
Ahead of upcoming elections, Google, TikTok, Microsoft and Meta...
JPMorgan pays $75 million to settle lawsuit over Jeffrey Epstein ties
US Virgin Islands Attorney General Ariel Smith said the settlement...
Coronavirus fears drive up credit risk for Gulf crude exporters
The United Arab Emirates on Tuesday suspended all flights to and from Iran due to the spread of the coronavirus in the Islamic republic, while Kuwait, Bahrain and Oman reported their first cases this week.
US expands its reinsurance program,transfers $400 mn in flood risk to capital markets
As part of the agreement, FEMA will pay $50.28 million in premiums for the first year of reinsurance coverage. Additionally, the agreement will cover 3.33 percent of losses for any single flood event with losses between $6 and $9 billion, and 30 percent if that same flood event has losses that rise to $9 to $10 billion.
WHO warns of pandemic risk after coronavirus peaks in China
The situation is worsening in other countries, with more than 2,000 cases and 30 deaths reported abroad, prompting a raft of restrictions on travellers from infected nations.
Aon aligns leadership team, appoints Andersen as President
Most recently, Aon has entered a new phase of its Aon United growth strategy with the rollout of a single colleague mission called the Aon Impact Model, the scaling of its Delivering Aon United client value and sales effectiveness program, the development of the Aon Business Services platform to improve delivery of middle- and back-office client services and the formation of the firm’s New Ventures Group to drive innovation at scale and expand its addressable market.
Dow plunges over 800 points as coronavirus cases spike outside China
On Monday, fears that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries across the globe spooked most equity markets. The virus, which has killed 2,442 people in China, has reportedly spread to 28...
Saudi Arabia’s regulator plans to raise capital requirements for insurers
-He declined to specify the new capitalization ratio but said it will be “definitely higher than the current one.”
-Asked about the economic impact of the global spread of a new strain of coronavirus, Alkholifey said it was “too early to assess.”
Financial services firms risk $1 trillion in losses from climate change: Report
The Oliver Wyman analysis found that if carbon taxes were imposed at a level of $50 per tonne of carbon dioxide in two of the most polluting industries – power generation and oil and gas – this would result in estimated credit losses of between $50 billion to $300 billion in both sectors.
Australia regulator seeks to understand financial risks of climate change
Global financial regulators are worried frequent extreme weather events could displace entire communities leading to stranded assets and a plunge in property values which could result in crippling losses for the financial sector.
Seoul worst hit as Asia markets plunge on virus worries
“While the coronavirus is probably slowing in China, it is speeding up elsewhere,” Charles Gillams, at RJMG Asset Management, said. “Its impact on Chinese business is already deep. So, whether that has a one economic quarter impact — of some severity — or is a bigger issue remains unclear and indeed we won’t know for while.”
Washington pledges $1 billion for coronavirus vaccine as pandemic risks grow
The White House said more than $1 billion of the requested virus budget would go toward developing a vaccine, while other funds would be used for therapeutics and the stockpiling of personal protective equipment such as masks.