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Aon appoints of Anne Corona as CEO of Enterprise Clients and global chief commercial officer
This appointment is part of Aon's strategy to advance its...
UK expands sanctions against Russian oil fleet and its insurers
The measures ban any cooperation with Moscow-based insurers...
Cryptocurrency-related cyberattacks grew by 192%: Report
“The digital format of cryptocurrencies make them decentralised in nature and without any regulations, they have become the currency of choice for cybercriminals,” Murali Urs, Country Manager, Barracuda Networks-India, said in a statement.
In 2019, ransom demands ranged from a few thousand dollars to $2 million at the top end. By mid-2021 most demands were in the millions, with a significant number over $20 million.
GIC Re shares climb nearly 4 pc after earnings announcement
With a higher investment income, state owned reinsurer GIC Re amidst Covid-19 pandemic, has seen its net profit rising by 5.25 per cent year on year(Y-O-Y) to Rs 1260.44 crore in last quarter(Jan-Mar) of FY 2021.
UK government set for leading role in insuring live entertainment
After months of closure or pared back performances with reduced audiences to allow social distancing, planning ahead to revive the sector is all but impossible without events cancellation insurance, theatre and music directors say. That makes government intervention crucial if the commercial sector will not pay.
Covea eyes take over of AXA XL Re
Any deal would make Thierry Derez’s mutual insurer Covéa finally realize its ambition to acquire a large global reinsurance operation and a takeover of AXA XL Re would strengthen its standings in the non-life reinsurance sector and diversify its offering.
GIC Re’s net profit rises 5 % to Rs 1260 crore, cuts gross premium 4% to Rs 8813 crore in Q4 Fy 21
With a combined ratio of 103.9 per cent(107.6 per cent), GIC Re’s underwriting loss has gone up by 15 per cent y-o-y to Rs 535 crore during the fourth quarter of Fy 2021.
The net investment income of the reinsurer has increased by 20 per cent y-o-y to R 2286 crore in the foutth quater of Fy 2021.For the whole of FY 2021,
MS&AD becomes the first Japanese insurer to adopt coal exit policy
Yuki Tanabe, Program Director at the Japan Center for a Sustainable Environment and Society (JACSES), said: “We welcome MS&AD’s announcement to completely end insurance underwriting for new coal-fired power generation projects, and urge other Japanese non-life insurers, such as Tokio Marine and Sompo, to establish similar policies immediately.”
CRISIL launches ESG scores of 225 companies
Said Ashu Suyash, MD & CEO, CRISIL, “ESG is already playing a material role in the decisions of governments, regulators, investors, lenders and corporates. This will not only transform the investment management industry, but also redefine corporate India’s approach to risk management for sustainable value creation. Our survey shows over 80% of issuers and institutional investors intend to integrate ESG in their decision-making. Our India-focused framework sieves through the challenges of disclosure quality and standardisation by leveraging our deep sectoral expertise and proprietary databases. Our ESG research, data, insights, assessments and solutions will empower customers and stakeholders to make decisions with conviction, and contribute to sustainable progress globally.”
The trillion dollar climate finance challenge (and opportunity)
Many countries lack the financial resources to make the transition to clean energy and a sustainable way of life that could reverse climate change.
The UN says that says that climate finance is the answer because not investing will cost even more in the long-term, but also because there are significant opportunities for investors.
Intel CEO says chip shortage to hit bottom in second half of 2021
“I don’t expect the chip industry is back to a healthy supply-demand situation until ’23,” he said in an interview. “For a variety of industries, I think it’s still getting worse before it gets better.”
Longer-term, the chip industry is positioned for a period of growth, Gelsinger predicted. Over the next decade, the increasing uses for chips – including 5G phone systems, electric vehicles and expanded artificial intelligence – will drive strong demand, he said.
Merchant ship crews still stuck at sea amid Pandemic
Some have been stranded for as long as 20 months, which contravenes the International Labor Organization’s Maritime Labour Convention, which allows a maximum of 11 monthsMore than 80% of world trade is transported by sea, meaning seafarers play a critical role in global commerce. The International Chamber of Shipping estimates that 200,000 are affected by travel restrictions, either stuck at sea or unable to leave home to get to their ships.
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