Insurers are, as a result, weighing a potential doubling of the...
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Japan’s population falls while foreign residents rise to record
The number of Japanese nationals fell for a 14th year, by about...
Growth slowdown concentrated in advanced economies: IMF
India is estimated to account for one-sixth of global growth this...
Half the world’s banks are too weak to survive a downturn: McKinsey
A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday
Few Hong Kong firms have riot insurance so they’ll be paying for protest damages
Hong Kong is a lucrative market for global insurers including American International Group Inc., AXA SA and Zurich Insurance Group AG, with the value of premiums as a percentage of gross domestic product at 18.16%, second only to Taiwan in the Asia-Pacific region.
Munich Re invests heavily in data analytics & artificial intelligence:Doris Höpke
Höpke also said that the financial impacts of cyber losses were becoming more severe and said demand for cyber prevention and protection would increase, as greater interconnectivity increased risk exposures
Boris Johnson sends unsigned letter to EU asking for Brexit delay
Johnson had hoped that Saturday would see recalcitrant lawmakers finally back the divorce deal he agreed with EU leaders this week and end three years of political deadlock since the 2016 referendum vote to leave the bloc.
Brexit may spur more deals in legacy general insurance policies
There are nearly $800 billion in closed books of non-life insurance globally, including $300 billion in Europe, according to PwC. Around $9 billion changed hands across 34 publicly announced deals globally in 2018, the consultants said in its first annual deals report
Typhoons Faxai, Hagibis, not likely to materially impact Japanese non-life insurers’ capitalisation
AM Best believes that the losses from Typhoon Hagibis will be largely driven by flood impact, rather than wind damage. Given the record breaking level of rainfall in some areas, as well as the relatively high population density surrounding Greater Tokyo, AM Best expects that the three mega-insurance groups’ gross losses from Typhoon Hagibis will be as significant as that from Typhoon Faxai, albeit possibly less severe than Typhoon Jebi in 2018.
UK heading for ‘fairly hard’ Brexit if Johnson deal passes
If Britain leaves the EU on Oct. 31, as scheduled, Johnson’s agreement ensures a transition period lasting until at least the end of 2020 during which there will be no big economic change.
Brexit insolvency fears boost demand for trade credit insurance
“The demand for credit insurance is incredibly high,” said Graham Bristow, managing director in credit solutions for insurance broker Aon, one of the largest firms arranging such deals. “There is no doubt Brexit is one theme, people are nervous.”
Britain, European Union reach Brexit deal
Immediately complicating matters was Johnson’s Northern Irish government allies which didn’t waste a minute to say they could not back the outline deal because of provisions for the Irish border.
Japan government will consider extra budget for typhoon relief
At least 58 were killed in the typhoon, with 15 missing and some 211 injured nearly three days after the storm lashed much of central and eastern Japan with high winds and intense rains, public broadcaster NHK said.