Fabrice Brégier non-executive Chairman, SCOR The SCOR directors...
Category:
International News
Latest
Allianz Global Corporate & Specialty SE appoints a new CFO
Munich: Allianz Global Corporate Specialty SE (AGCS) has appointed...
Canada energy sector under threat from Russia-aligned hackers, spy agency says
The Communications Security Establishment (CSE) signals...
Chinese researcher claims first gene-edited babies
The researcher, He Jiankui of Shenzhen, said he altered embryos for seven couples during fertility treatments, with one pregnancy resulting thus far. He said his goal was not to cure or prevent an inherited disease, but to try to bestow a trait that few people naturally have — an ability to resist possible future infection with HIV, the AIDS virus.
Factbox: Key Elements of EU-UK Draft Deal for Post-Brexit Relationship
The EU and UK “agree to develop an ambitious, wide-ranging and balanced economic partnership … encompassing a free trade area as well as wider sectoral cooperation … underpinned by provisions ensuring a level playing field for open and fair competition.It would respect “the integrity of the (European) Union’s Single Market and the Customs Union as well as the United Kingdom’s internal market, and recognize the development of an independent trade policy by the United Kingdom beyond this economic partnership.The EU and UK will “retain their autonomy and the ability to regulate economic activity.”
Allianz receives approval for China’s first fully-owned foreign insurance holding co
The company – Allianz (China) Insurance Holding Company Limited – will be China’s first-ever wholly-owned insurance holding company by a foreign insurer, and will be based in Shanghai.
Air pollution affects life expectancy worse than smoking, terrorism: Study
According to the new Air Quality Life Index (AQLI), developed by researchers at University of Chicago in the US, particulate air pollution cuts global average life expectancy by 1.8 years per person. The AQLI reveals that India and China, which make up 36 per cent of the world’s population, account for 73 per cent of all years of life lost due to particulate pollution.
Generali Earmarks €4 Billion ($4.6 Billion) for Acquisitions, Growth
“Asset management is increasingly complementary and by the end of 2021 we will be an insurance and asset management group,” Chief Executive Philippe Donnet said.
Donnet, who took over as CEO in 2016, has been selling off non-core assets over the past two years to focus on capital-light products, new services and fee-based businesses.
UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions
A.M. Best expects, however, that UK companies will still be able to underwrite reinsurance business on a cross-border basis post Brexit, in all but a small number of EEA jurisdictions.
UN collaborates with global insurers to tackle climate change impacts
The pilot group will develop analytical tools that they will use to pioneer insurance industry climate risk disclosures that are in line with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). This will require them to make use of the latest climate science, including some of the most advanced, forward-looking climate scenarios available.
SCOR announces the creation of SCOR Europe SE
With effect from January 1, 2019, SCOR Europe SE, a 100%-owned subsidiary of SCOR SE, will underwrite all new and renewed business relating to risks located in the EEA that can no longer be accepted by SCOR UK Company Ltd. after the Brexit date. SCOR Europe SE will also take over all commitments from policies previously issued by SCOR UK Company Ltd. if the latter can no longer honor these following Brexit, the terms of which remain uncertain at this stage.
China moves closer to allowing foreigners to control insurance ventures: sources
Beijing said in November last year that for insurance ventures it would first raise the foreign ownership cap to 51 percent from 50 percent. It has also pledged to remove the limit completely in three years
RMS estimates insured losses from California wildfires to be between $9 Bn and $13 Bn
Mohsen Rahnama, Chief Risk Modeling Officer, RMS, said: “Wildfire is now a major catastrophe risk that must be rigorously managed with the best data and model science. With increasing exposure due to properties near wildland areas and ongoing climate variability, insurers, policymakers, and homeowners must adapt to the prospect of more frequent and severe wildfires.”