Masatsugu Asakawa,President,Asian Development Bank ADB is...
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Cyclone Mocha: Overheated Bay of Bengal fuelling a climate crisis
Extreme weather hazards will occur more frequently due to climate...
China new financial regulatory body gets a chief
The National Financial Regulatory Administration(NFRA) is a new...
Aeromexico Plane Crash causes dozens of injuries but no deaths
The mid-sized jet was almost full, with 103 people including two infants and four crew members on board, when it crashed at about 4 p.m. local time (2100 GMT), authorities said. Passengers and crew jumped to safety before the plane was engulfed in flames.
Prudential and Babylon Join Forces to Pioneer AI-Powered Digital Health Services in Asia
Nic Nicandrou, Chief Executive of Prudential Corporation Asia, said: “The strategic partnership with Babylon is consistent with our ambition to address the unmet healthcare needs in Asia where the majority of the population are uninsured or underinsured, alongside an ageing population and escalating medical costs. This partnership accelerates our efforts to provide customer-centric, cost efficient and scalable health and wellness digital services to customers in the region.”
Strong Earthquake Hits Indonesia’s Lombok Island, Killing at Least 14 People
Indonesia is prone to earthquakes due to its location on the Pacific “Ring of Fire,” an arc of volcanoes and fault lines in the Pacific Basin. In December 2004, a massive magnitude 9.1 earthquake off Sumatra triggered a tsunami that killed 230,000 people in a dozen countries
Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources
Lloyd’s insurers have an expense ratio of 40 percent, according to ratings agency AM Best, which Paul Merrey, a partner specializing in insurance at KPMG, said is about 10 percentage points higher than competitors
Hong Kong insurer FWD Group eyes Singapore Listing
FWD has expanded in Japan and Southeast Asia and tied up with banks in the region to sell its insurance policies. The company had over 2.7 million customers spread across eight Asian markets at the end of last year, its website shows.
Uber halts driverless truck manufacturing to focus on Cars
San Francisco-based Uber faces competition from Silicon Valley companies including Tesla Inc. and Alphabet Inc.’s Waymo as well as traditional automakers such as Ford and General Motors in the race to bring self-driving cars to the market
Manipulation likely behind MH370 tragedy, no apparent system fault: Report
MH370 vanished on March 8, 2014, en route to Beijing from Kuala Lumpur with 239 people on board. Investigators have never been able to explain why the jet abandoned its route shortly into the flight, traversed Malaysia and then cruised south over the Indian Ocean
Nigerian Regulator triples insurers’ minimum capital requirement
Life insurers wanting to take on annuity and group life are required to boost their capital to 6 billion naira ($16.6 million) from 2 billion naira, while non-life operators underwriting all risks including aviation and engineering should shore up their capital to 9 billion naira from 3 billion naira
Iran offers India oil cargo insurance, ships to boost sales
Tehran recently insured oil cargoes to India in tankers operated by National Iranian Tanker Company (NITC) as the threat of sanctions hits the supply of both ships and insurance for transportation, Source at United India Insurance and GIC Re confirmed the company has stopped providing insurance cover for Iranian cargoes, said sources
Asian life insurance regulations are still ‘rules-based’: Milliman
The different markets are at very different stages of evolution—in general economic, social and demographic terms and in respect of the maturity of their various life insurance industries. Consequently, the insurance regulatory regimes vary significantly across the markets, often making it difficult for insurers to keep track of how the regulations change across the region.