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Why is South Asia the global hotspot of pollution?
Experts say that the problem lies in a lack of coordination on...
Nations to develop mechanism for use of digital sequence information on genetic resources
Digital sequence information(DSI) is a placeholder term to refer to...
AIG launches Lloyd’s Syndicate 2019, largest Syndicate to reinsure risks from insurer’s Private Client Group
AIG will now operate the ninth largest managing agency in the Lloyd’s market, in terms of capacity.For Lloyd’s and the third-party investors and capital providers, Syndicate 2019 represents a compelling opportunity to access the highly attractive High Net Worth segment.
Intel buys Moovit transit app for $900 mn to develop self-driving robotaxis
Intel forecasts robotaxis will be a $160 billion market by 2030.
The decision to buy now, when much of the world economy is at a standstill due to the coronavirus outbreak, stems from Mobileye’s ability to more accurately predict when its technology will be ready, Mobileye CEO Amnon Shashua said. And the target is 2022.
Trump administration pushing to rip global supply chains from China: officials
“We’ve been working on [reducing the reliance of our supply chains in China] over the last few years but we are now turbo-charging that initiative,” Keith Krach, undersecretary for Economic Growth, Energy and the Environment at the U.S. State Department told Reuters.
The pandemic has highlighted China’s key role in the supply chain for generic drugs here that account for the majority of prescriptions in the United States. It has also shown China’s dominance in goods like here the thermal cameras needed to test workers for fevers, and its importance in food supplies.
Quarterly global InsurTech fundraising trend slashed by over 50%, COVID-19 a likely culprit:Willis Towers Watson
InsurTechs raised a total of US$912 million during the first three months of 2020.Deal count, at 96, was up 28% over Q4 2019, 10% more than the first quarter of that year. It is the highest number of investment rounds by transactional volume ever recorded by the Quarterly InsurTech Briefing.Overall total funding was down by 54 percent, however, reflecting in part far fewer ‘mega-deals’ (US$100 million-plus deals) taking place in the year so far.
U.S. airlines now requiring masks, promise more safety measures
The industry, through lobby Airlines for America, has also begun discussions with policymakers in Washington on measures such as virus testing and pre-boarding temperature checks, United Chief Communications Officer Josh Earnest said.
Tens or 100s of billions? Insurers consult crystal balls on coronavirus costs
Losses could exceed $500 billion if state lawmakers require insurers to cover business-interruption claims for pandemic losses, former CNA Financial Corp Chief Executive Dennis Chookaszian told Reuters. Most policies exclude that risk, but insurers are facing lawsuits over it and eight U.S. states are considering laws to retroactively make insurers pay such claims.
Online car sales may gain traction post COVID-19, auto retail needs to become virtual: EY
The Indian customer’s views and behaviour towards an online car purchase platform is only going to evolve. Indian OEMs and car aggregators can take a cue from global players and gradually develop their capabilities to support this transformation. Globally, OEMs like BMW, Peugeot, Hyundai and Volvo have successfully deployed almost contactless online sales, it added.
Covid-19 will make life tough for non-life insurers: experts
“The Covid-19 will surely have its negative impact on the Indian non-life insurance industry as the lockdown is expected to continue in one way or other. There will be a drop in the business for the first quarter while improvement is expected in the second quarter of FY 21,” G. Srinivasan,Director, National Insurance Academy and former chairman-cum-managing director, New India Assurance
ICICI Lombard Gen net profit at Rs282 cr, up 24 %,in Q4Fy2020
“We have managed to book profit as we had taken a conscious call to not write crop business and also due to pricing improvements in segments like fire insurance.All business segments except retail health and motor insurance posted an underwriting profit for Q4.”
Combined ratio of the company stood at 100.4 per cent in FY2020 compared to 98.8 per cent in FY2019 primarily on account of long-term motor policies, change in product-mix and losses from catastrophic events. Combined ratio stood at 100.1 per cent in Q4 FY2020 compared to 99.0 per cent in Q4 FY2019.
Any combined ratio below 100 per cent means a general insurance company is making an underwriting profit.
Any combined ratio below 100 per cent means a general insurnace company is making an underwriting profit.
Warren Buffett says the coronavirus cannot stop America, or Berkshire Hathaway
Buffett confirmed that Berkshire in April sold its “entire positions” in the four largest: American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Airlines Holdings Inc.