The gains coincided with a broad stock market rally, as investors...
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Wind turbines that shake and break cost their maker billions
Executives and board members are concerned that fixing the problem...
Reinsurers’ discipline continues at 7/1 renewal: Gallagher Re
Tom Wakefield, Global CEO Gallagher Re, said: “With the improved...
PIMCO launches new Insurance-Linked Securities business in partnership with Allianz
PIMCO will work in partnership with its parent, Allianz, to source global catastrophe risk in the form of collateralized reinsurance and other structured investments, while maintaining independent underwriting and portfolio construction procedures. This differentiated approach will also give PIMCO the flexibility to source risk from the open market in an effort to deliver attractive risk-adjusted returns for clients.
Music team joins Miller to grow music and entertainment offering
“We are really pleased that Martin, Holly, Rose and Pam are now on board. Bringing a team of this calibre to Miller can only be of great benefit to our clients. Their knowledge of the music industry and insurance market will enable us to hit all the right notes with our offering to parties in the music and entertainment sector,”
France uses strict EU privacy law first time, fines Google 50 mn euros
Google was handed the record fine from the CNIL regulator for failing to provide transparent and easily accessible information on its data consent policies, a statement said.
Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report
Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record. This means the protection gap, which is the portion of economic losses not covered by insurance, was 60 percent and at its lowest level since 2005.
AGCS opens reinsurance branch in India, targets EUR50 million premium over next 5 yrs
AGCS India Branch will initially offer facultative, proportional, and non-proportional reinsurance solutions on the following lines of business: Property, Liability, Marine, Financial Lines, Construction & Engineering, and Energy. In particular, AGCS sees opportunities in large scale construction projects under the USD 106 billion Bharatmala infrastructure development plan, as well as strong contributions from the automotive, electronics and high-tech communication industries, all of which complement AGCS’s areas of specialist expertise.
India likely to surpass UK in the world’s largest economy rankings: PwC
“India is the fastest growing large economy in the world, with an enormous population, favourable demographics and high catch-up potential due to low initial GDP per head. It is therefore all but certain to continue to rise in the global GDP league table in the coming decades,”
Pandemics may cause $570 bn annual loss to global economy, says WEF report
“Outbreaks are a top global economic risk and – like the case for climate change – large companies can no longer afford to stay on the sidelines,” said Vanessa Candeias, Head of the System Initiative on Shaping the Future of Health and Healthcare and Member of Executive Committee at the WEF.
A.J. Gallagher’s ‘clean coal’ business draws ire of green investors
Now, the Green Century Funds and Calvert Funds – which include A.J. Gallagher in their portfolios based on its record as an insurance firm, not a coal supplier – said they will review the company’s green credentials. Green Century and Calvert are two of nation’s leading money managers focused on corporate environmental, social and governance matters.
US Regulators disagree over giving Fintechs Federal Charter to skirt State Rules
Companies such as PayPal and LendingClub Corp. have attracted millions of customers by offering greater convenience or better prices than traditional banks. The OCC and the FDIC say such firms can broaden access to financial services because their low-cost models allow them to reach poorly served areas and offer small loans that are uneconomical for bigger banks.
Pension Trustees seek corporate disclosure of Sexual Harassment Costs, Policies
“We don’t see how it could possibly be accretive to corporate value to have a culture that allows for sexual harassment in the workplace,” said Priya Mathur, the departing president of the $345 billion California Public Employees’ Retirement System, the largest U.S. pension fund.Companies are losing customers, paying settlements and higher insurance costs and being distracted “from their core strategies because they have to deal with this.”