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Ukraine hopes grain exports to continue from key ports
“The main task for Ukraine now is to get the support of Turkey,”...
Bain Capital raises $1.15 bln for first fund dedicated to insurance investments
Matt Popoli, global head of Bain Capital Insurance, told Reuters...
Tesla rolls out insurance in California
Chief Executive Elon Musk has been one of the strongest proponents of the idea that car insurance rates should plummet as driver-assist and self-driving technology become standard. Tesla said rates of its new plan were as much as 20% lower than those of rivals but did not provide comparisons.
More favorable pricing permeates global reinsurance industry, but is it sustainable
Third-party capital continues to proliferate as investor interest has increased alongside more varied reinsurance structures, and has become more closely aligned with traditional reinsurance capital. Despite the capital markets’ increased influence, dedicated reinsurance capacity essentially remained flat in 2018, at $436 billion, with a single-digit percentage increase in convergence capital to $95 billion from $87 billion in 2017.
Allianz Australian unit to refund customers for insurance mis-selling
ASIC said Allianz incorrectly sold insurance cover to people ineligible to claim for unemployment or disability, and death cover to customers under 21 years of age who were unlikely to need it.
Amazon sued by publishers claiming audible text service violates copyright
The lawsuit was filed by seven members of the Association of American Publishers (AAP), including HarperCollins Publishers, Penguin Random House, Hachette Book Group, Simon & Schuster, and Macmillan Publishers.
“Essentially Audible wants to provide the text as well as the sound of books without the authorization of copyright holders, despite only having the right to sell audiobooks,” AAP said in a statement.
Germany’s Allianz grows in Brazil with $734 million deal
The deal represents Allianz’ largest investment ever in Brazil, the insurer said. “Insurance in Brazil is expected to grow more than the GDP over the next years, as insurance penetration is very low,” said Eduard Folch, chief executive of Allianz’ Brazilian unit, in a phone interview
Early claims and crash tests suggest risks of luxury, SUV electric vehicles
In serious crashes, electric autos’ high-voltage power plants automatically shut down, AXA noted, but damaged batteries can catch fire up to 48 hours after a crash, making it more difficult to deal with the aftermath of an accident.
HSBC considering a bid for Aviva’s Asian operations, reports suggest
Aviva, the UK insurance conglomerate whose shares have dropped 27 per cent in the last 12 months, confirmed in August it’s examining options for its Asian business as new chief executive officer Maurice Tulloch’s turnaround takes shape. The company’s operations in the region could be valued at about $3 billion to $4 billion, with an official process slated to kick off later this year, Bloomberg News reported earlier.
China tops list of U.S. cybersecurity agency’s top risks
A newly created U.S. cybersecurity agency said Thursday that China represents the greatest strategic risk to the U.S., and as a result, the agency’s top operational priority is reducing the risks from Chinese compromises to the global supply chain, including emerging 5G technology.
Deadlock continues as EU rebuffs Johnson bid to reopen Brexit Deal
“We welcome the U.K. government’s engagement,” European Commission spokeswoman Natasha Bertaud told reporters in Brussels. “The letter does not provide a legally operable solution to prevent the return of a hard border on the island of Ireland, it does not set out what alternative arrangements could be, and in fact it recognizes that there’s no guarantee that such arrangements will be in place by the end of the transitional period.”
Nuclear watchdog says Russia resumes sharing radiation data
The mysterious accident at a naval weapons testing range on the White Sea in northwestern Russia earlier this month has been accompanied by changing or contradictory information from Russian authorities. That has led to speculation about what really happened in the town of and what type of weapon was involved.