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El Nino likely to return this year, fuelling global temperatures – WMO
"El Nino will fuel the temperature globally," he said. "We feel the...
Burning oil tanker off Malaysia raises safety concern about shadow fleet
A vast shadow fleet of aging tankers has been enlisted to carry...
Violence cost India’s GDP over $1 trillion on PPP basis; Per person cost at Rs 40,000
The economic impact of violence to the global economy was USD 14.76 trillion in 2017, in PPP terms. This is equivalent to 12.4 per cent of GDP, or USD 1,988 per person. The global economic impact of violence is defined as the expenditure and economic effect related to “containing, preventing and dealing with the consequences of violence”.
Worldwide cyber insurance prm will touch $4 bn by 2021: Aon
Across all types of commercial P&C insurance, the manufacturing segment generated the highest premiums worldwide in 2017, worth approximately $111 billion. Following manufacturing came agriculture, fishing and forestry at $72 billion, boosted by the huge value of this segment in China and the U.S.
UK financial watchdogs need competitiveness remit after Brexit: lawmaker
“It’s important that we don’t dilute standards beyond the internationally accepted, but tests of appropriateness, proportionality and international equivalence are key,” Stephen Hammond, a member of parliament’s Treasury Select Committee (TSC) told a City & Financial conference
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Insurance Cutback Among Reasons Europeans Withdrawing from Iranian Oil Market
Although European governments have not followed Washington by creating new sanctions, banks, insurers and shippers are gradually severing ties with Iran under pressure from the U.S. restrictions, making trade with Tehran complicated and risky.
Europe’s insurers tumble on report Amazon eyeing home insurance move
The STOXX 600 insurance sector index .SXIP hit a session low after a report in The Information, citing an unnamed source, said Amazon.com had contemplated offering home insurance as an offshoot of its home connectivity business
Threats from Conflict and Terrorism account for more than half of Indian cities’ Risks:Lloyd’s Report
• Indian cities in top 10 globally for civil conflict and terrorism risks
• Delhi, at US$3.5bn, is the highest ranked city in South Asia for economic output at risk
• Flood and tropical windstorm threats account for 12% of India’s risk landscape
• Indian cities among the least resilient in the world
Global airlines making profits despite looming threat of trade war, high fuel cost: IATA
The International Air Transport Association (IATA) expects the airlines to achieve a collective net profit of USD 33.8 billion, at a net margin of 4.1 per cent, in 2018 compared to a record USD 38 billion last year.
India extracts more groundwater than China-US, says study
“The country accounts for one-fourth of the total groundwater extracted globally, more than the water extracted by China and the United States combined. Severe groundwater depletion in the north and central India, already home to some of the poorest communities, further threatens their access to water,”
China’s insurance premium income drops in January-April
BEIJING: China's insurance sector saw premium income drop 7.8 percent year on year to 1.7 trillion yuan (about 260 billion U.S. dollars) in the first four months of the year, said Chinese official agency quoting according to official data. The...
Low single-digit reinsurance rate hike at June1 renewal, JLT Re
David Flandro, Global Head of Analytics, JLT Re, said, “Dedicated reinsurance sector capital has been very strong with growth of over USD 10 billion during the first half of 2018, following roughly USD 7 billion of new capital raised in the final four months of 2017. This affirms the now established trend of third-party capital rapidly entering the sector post-loss to fill the gap more or less immediately.