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Britain to tap pensions for infrastructure as Thames Water toils
Britain's financial services were largely cut off from the EU due...
Siemens energy’s turbine troubles rattle wind sector
Siemens Energy shocked the wind sector in late June when it warned...
EU and UN Women partner to boost women’s economic rights and opportunities in Asia
Anna-Karin Jatfors, UN Women’s acting Regional Director for Asia and the Pacific, said: “Women make crucial contributions to the region’s economies. WeEmpower Asia will create transformative partnerships between private sector companies, female entrepreneurs and women-led businesses, and policymakers to drive social change. It will benefit not only women, but also societies and economies as a whole.”
Pool Re’s new initiative to make businesses more resilient to terrorism in UK
Commenting on the collaboration, Minister of State for Security, Ben Wallace MP, said: “This project is one of the first of its kind – a collaboration between the police, the insurance sector, and the Government that will help to keep the country safe and secure. If we are to properly respond to the terrorist threat, we need to ensure everyone plays their part. That is why partnerships like this one are so vital and I thank Pool Re for their leadership.”
Lloyd’s appoints Hayley Spink as head of global operations
The appointment reflects Hayley’s global operations experience as well as her immense contribution as Brexit Programme Director, where she has been instrumental in establishing Lloyd’s Brussels subsidiary to enable the Lloyd’s market continued access to the European Economic Area (EEA) post-Brexit.
World’s biggest sovereign wealth fund to decide on dumping oil
The decision is also important given the fact that the positions taken by the fund — which controls 1.4 percent of global market capitalisation — are closely watched by other investors.In another significant move, the fund has already pulled out of the coal industry, both for environmental and financial reasons.
Munich Re’s innovative coverage for battery performance in renewable energy
Peter Röder, Member of the Board of Management at Munich Re: “The ability to insure battery performance is a key piece of the puzzle in decarbonising our energy sector. For the first time, battery manufacturers can insure against the risk of their products not delivering as promised. With this new coverage, Munich Re has again demonstrated its pioneering role in the insurance of climate-friendly technology.”
Hannover Re profit jumps to EUR 1.06 billion in 2018 despite large losses
The combined ratio improved to 96.5% (99.8%) and was thus only marginally higher than the targeted level of 96% or better.
Property and casualty reinsurance was again fiercely competitive in the financial year just ended. Despite a high level of losses, both traditional reinsurers and alternative capital providers in the ILS market continued to make abundant capacities available. Prices and conditions in the property lines, in particular, consequently remained under pressure. Hannover Re was nevertheless able to act on profitable business opportunities in the various rounds of treaty renewals.
Amazon-JPMorgan-Berkshire Health-Care Venture to Be Called Haven
Haven wants to improve access to primary care, simplify insurance and make prescription drugs more affordable, according to the website. It will initially serve 1.2 million employees of Amazon, Berkshire and JPMorgan, though it later plans “to share our innovations and solutions to help others.”
China set to be the largest global insurance market by mid-2030s:Swiss Re
The seven largest emerging markets are forecast to contribute around 40% of global economic growth over the next decade
• China alone will count for more than 25% of global output
• From quantity to quality: maturing emerging economies will see more moderate, but also more stable growth • Emerging market insurance premiums are forecast to more than double over the next 10 years, growing four times faster than in advanced markets
• Premiums in emerging Asia are projected to grow three times faster than the world average over the next two years • China to become the world’s largest insurance market by the mid-2030s
Aon partners with insurtech firm on tracking marine risk accumulations
In an era of mega-ports and ultra-large container ships, re/insurers are highly exposed to risk accumulation during a catastrophe, said Aon in a statement. As a result, the need to monitor vessel movement and estimate cargo accumulation has become a critical part of exposure management and risk selection.
Aon eyes Willis Towers Watson acquisition, may be made via an all-share business combination
Aon has officially announced its intentions as per Irish regulatory requirements, stating that any deal was “in the early stages” and would be made via an all-share business combination.