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Putin signs law to establish Eurasian Reinsurance Company
The company will provide insurance support for the mutual and...
Russia-linked hackers give British Airways and the BBC a week to open ransom negotiations
The hacker group, known as Clop, said companies that use the secure...
Insurtech Firm Wefox Seeks New Funding with Softbank Among Investors
Softbank’s Vision Funds’ big investments in firms like Uber or WeWork, leaders of the so-called “gig economy” mean that insurance acquisitions are particularly suited to its portfolio. Softbank founder Masayoshi Son has said he sees “insurtech” as a way to cross-sell to customers of his other companies.
Hong Kong Insurance Market attracts Mainland Chinese seeking lucrative pay
Agents say Hong Kong insurance provides more comprehensive and higher protection for health issues than mainland products. And insurance savings products denominated in Hong Kong or U.S. dollars are also seen as attractive investments for hedging against falls in the yuan.
UK’s Financial Services Exports highlight need to keep Post-Brexit access: Officials
Britain has proposed EU market access based on a more accommodative version of the bloc’s trade regime known as equivalence.Equivalence is used by Japan and the United States, to grant access if Brussels deems that a foreign country’s rules are aligned with to its own.
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