Gunawan's appointment is the latest for TMK Asia Pacific, as it...
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Korean Re enhances risk analysis with Moody’s RMS Risk Models across Europe and Asia
Dr. Chun Baek, the head of Catastrophe Analytics at Korean Re,...
Nearly 30 ships stop around Ukraine’s Izmail gateway after Russian Danube strikes
Since the collapse of the grain corridor deal and the increased...
Health insurance prms are on the rise in 97 countries, Pacific Prime finds
Of the 100 countries, the average international health insurance premiums for individuals ranged from USD $8,887 in the US to USD $2,728 in Thailand. Meanwhile, the average international health insurance premiums for families ranged from USD $26,883 in the US to USD $10,842 in Thailand.
London retains status as top global financial services center, despite Brexit chaos
British data shows the total number of people employed in the City between 2016 and 2018 overall rose by 31,000, though the total number of people employed specifically in banking and insurance is down 3,000 over the period.
AXA to exit non-core bix, to focus on Asian expansion
AXA is now focusing on expanding in Asia, after its $15 billion acquisition of Bermuda-based insurer XL last year and its listing of U.S. life insurance and asset management unit AXA Equitable Holdings.
MS Amlin exits aviation insurance market
As a result of the strategic review, on Oct. 1, MS Amlin announced it was exiting nine classes of business and operations (including aviation), which no longer form part of its future strategic direction. The business classes were: P&C UK Insurance (Corporate Property, Real Estate, Casualty, Package Binders, Fleet) and Aviation, while operations were Bloodstock in P&C International; UK Yacht (previously Haven); AUA Insolvency Risk Services.
Daimler Recalls Thousands of Mercedes-Benz Vehicles over Diesel Emissions
In June, Daimler issued a profit warning and announced an increase of legal provisions by a high three-digit million euros amount, to cover various ongoing governmental proceedings and measures relating to diesel vehicles.
Typhoon Hagibis: Biggest Japan storm in decades makes landfall
Prime Minister Shinzo Abe’s Cabinet hosted a disaster management meeting Friday. He said 17,000 police and military forces were ready to be deployed to ensure the safety of citizens. “The typhoon could cause power outages, damage to infrastructure and significantly affect people’s lives,” Abe said.
Cracks found on 5% of older Boeing 737 planes in inspections
Aircraft with 22,600 to 29,999 flights must be inspected over the next 1,000 flights. There are about 6,800 737 Next Generation jets in service around the world, so the cracking has so far affected less than 1% of the entire fleet.
London market premium rises to £28.4 bn
Dave Matcham, chief executive of the IUA added: “The data returns for this year’s report cover a period before the implementation of most Brexit contingency plans. Such is the diversity of London Market business models, however, it is already certain that Brexit will impact different firms in quite different ways. London is at the heart of an intricate web of cross-border business which is set to become even more complex.”
Business interruption losses in supply chain can be very severe:Lloyd’s Report
Physical impacts arising from supply chain failures can also affect intangible assets, notably brand and reputation, noted the report. In addition, the increased frequency and severity of extreme weather can exacerbate risks to infrastructure, manufacturing and distribution networks.
Trade conflicts could cause a loss of $700 bn to global economy:IMF Chief
“In 2019, we expect slower growth in nearly 90 percent of the world. The global economy is now in a synchronized slowdown,” Georgieva said in a speech ahead of IMF-World Bank autumn meetings next week.