In the world’s first human-robot press conference, they gave mixed...
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Allianz ropes in AIG’s Christian Sandric as commercial managing director Asia
Christian Sandric In Asia, Allianz is targeting significant growth...
World sees hottest June on record, North Atlantic ocean heats up
The rapidly warming planet has led to unusual spikes in air and sea...
FWD buys Thai insurance unit for $3 billion, in top SE Asian sector deal
BANGKOK: FWD Group is acquiring the life insurance business of Thailand’s Siam Commercial Bank (SCB) (SCB.BK) for 92.7 billion baht ($3 billion) in Southeast Asia’s biggest insurance M&A deal, broadening a rapid Asian expansion by the Hong...
Recreational drug use surges worldwide, cannabis most popular: UN report
The use of cannabis, cocaine, amphetamines and prescription stimulants are at post-recession highs in the U.S., the study said. And although the use of prescription opioids has dipped recently, the number of overdoses has increased. More than 47,000 deaths were recorded there in 2017, many of them attributed to synthetic opioids such as fentanyl.
AIG names Tata Group’s Shane Fitzsimons as its global head of shared services
“Under Shane’s leadership, AIG Shared Services will be modernized to accelerate our progress towards restoring AIG as the leading insurance company in the world,” said Peter Zaffino, AIG’s Global Chief Operating Officer and Chief Executive Officer, General Insurance
G20 leaders vow to prevent use of internet for terrorism, extremism
“We issue this statement to raise the bar of expectation for online platforms to do their part. We, the leaders of the G20, reaffirm our strongest condemnation of terrorism in all its forms and manifestations,” they said.
RMS releases underwriting tools deliver rapid, site-specific insights
Karen White, CEO of RMS, said: “We have listened to the market, and to our clients. We know that there are times when full in-depth analysis is essential and there are times when immediacy of information is paramount. With our expanding suite of data solutions, a consistent and superior view of risk from underwriting up to portfolio management is now possible. RMS Location Intelligence API and SiteIQ can deliver immediate results at the times when they are needed the most for our clients.”
Cyber risks are jeopardizing M&A Deals
Of more than 2,700 information technology and business decision makers surveyed by Forescout Technologies Inc. in seven countries, 53% reported that their organization had encountered a critical cybersecurity issue or incident that put an M&A deal in jeopardy. And 65% of respondents said they had experienced buyers’ remorse because of cybersecurity concerns after closing a deal.
China creates insurance group to take over troubled insurer Anbang
During a two-year acquisition binge through 2016 that included New York’s iconic Waldorf Astoria Hotel, Anbang became synonymous with China’s unbridled appetite for international trophy assets. That ended when authorities took over the group after former Chairman Wu Xiaohui was sentenced to 18 years in prison for fundraising fraud. They then began selling some of the assets it had accumulated.
Blast of Hot Air from Sahara Triggers Record Heatwave Across Europe
Germany imposed speed restrictions on usually limit-free stretches of its highway network and several people were stopped by police for stripping in public. About 60% of vehicles registered in the Paris area were ordered off the roads, while shops in the French capital ran out of fans and air conditioners, rarely used by most residents. In Rome, keepers at the city’s zoo fed animals frozen treats.
Ex-AIG employees, seeking back-bonuses of $100M, win British court ruling
Judge Andrew Baker ruled Tuesday that the insurer can’t assert that its AIG Financial Products unit would have rather gone bankrupt than pay the bonuses to the 23 ex-employees. An earlier ruling said the unit improperly withheld the payments, and the insurer wanted to make the case for bankruptcy in a new trial deciding the damages.
Discovery of new risk with Boeing 737 to prolong grounding
The risk was discovered during a simulator test last week and it is not yet clear if the issue can be addressed with a software upgrade or will require a more complex hardware fix, sources with knowledge of the matter told Reuters.