Christian Mumenthaler, Chairman of The Geneva Association and Group...
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UK PM Rishi Sunak plans to set up global AI watchdog in London: Report
Among the ideas under consideration in Downing Street is setting up...
Wall Street cashing in on the ultra-wealthy
In the past 10 weeks, JPMorgan Global Wealth Management opened...
Facebook users need Rs 70,000 to deactivate account for one year
“Social media, and the internet more broadly, have changed the way we live and the way we keep in touch with friends and family, but it’s hard to find evidence that the internet has made us richer or more productive at work,” said Jay Corrigan, a professor at Kenyon College in the US.We know people must derive tremendous value from Facebook or they wouldn’t spend millions of hours on the site every day. The challenge is how to put a dollar value on a service people don’t pay for,” Corrigan said
Global insured losses of $79 billion in 2018, 4th highest
Total economic losses from natural catastrophes and man-made disasters are estimated to be USD 155 billion in 2018. Natural catastrophes caused USD 146 billion of the losses, and man-made disasters USD 9 billion. Of the total economic losses, USD 79 billion have been covered by insurance, down from USD 150 billion in 2017, but more than the previous 10-year annual average (USD 71 billion).
J&J moves to limit impact of Reuters report on asbestos in Baby Powder
Senator Edward Markey, a Massachusetts Democrat on the Environment and Public Works Committee, on Friday sent a letter to the head of the US Food and Drug Administration calling on the agency to investigate the findings in the Reuters report to determine whether J&J misled regulators and whether its Baby Powder products threaten public health and safety.
HDFC Int Life & Re assigned “BBB” rating with stable outlook by S&P
Its business consists of both treaty and facultative reinsurance arrangements assumed from ceding companies in the GCC region, relating to a broad range of life insurance product lines covering individual life, group life and group credit life
Novartis may team with Reinsurers to cut Drug Costs, FT Reports
Reinsurers, which already provide a backstop to employer health insurance plans, could benefit from this new revenue amid increasing competition from rival sources of risk capital, the FT said. Reinsurers could pool the costs of treatments by different drug companies across countries
AIG arranges first CLO Deal since financial crisis
AIG’s last deal prior to the crisis was called Galaxy X CLO, managed by Lehman Brothers and sold in February 2008, according to data compiled by Bloomberg. The spun-off PineBridge then took over the series and issued its first post-crisis deal, Galaxy XI CLO, in July 2011.
J&J begins settling Pinnacle Hip Implant defect claims
J&J is set to face a trial Jan. 14 in Dallas where five recipients of the Pinnacle hip will press claims that the world’s largest health-care products company failed to warn customers about the devices’ risks. A similar 2016 case produced a $1 billion verdict for multiple plaintiffs.
Global Claims: APAC accounts for 17 % of total value, fires & explosions cause largest losses for business: Allianz
“The report highlights the increasingly high values at risk for businesses and their insurers alike,” says Philipp Cremer, Global Head of Claims, AGCS. “In today’s interconnected and globalized business environment, financial losses are increasing due to geographical concentration of values – often in risk-exposed areas – and from the knock-on effects of global supply chains and networks. Looking to the future, new technologies bring business benefits but also risks and claims. However, they also provide an opportunity to prevent and mitigate losses and improve the claims settlement process for our customers.”
Peak Re launches first Asian reinsurance sidecar transaction
The establishment of this special financial structure, commonly known as a “reinsurance sidecar”, allows investors to take on the risk and benefit from specific books of an insurance or reinsurance company
Next generation of combustion engines, in 2026, to be the last: Volkswagen
Wolfsburg, Germany: Volkswagen's strategy chief said on Tuesday the German carmaker's core brand will develop its final generation of vehicles using combustion engine technology in 2026. Volkswagen made a strategy shift towards...