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Willis appoints Aon’s Anant Pawar as Aviation & Space Leader for India
Anant Pawar, Aviation & Space Leader, Willis,India Willis...
Swiss Re appoints Bernhard Kaufmann Group CRO as Patrick Raaflaub retires
Prior to this role, Bernhard Kaufmann was Chief Risk Officer at NN...
New Executive Committee to lead Aon forward
The Aon executive committee is now responsible for executing on the firm’s four-pronged Aon United Blueprint, which creates new sources of value for clients, delivers more effective client service, drives innovation at scale and ensures a unique and sustaining colleague experience.
Cabinet approves multilateral MoU signed by IFSCA
MoU signed between the International Financial Services Centres Authority (IFSCA), International Organization of Securities Commissions (IOSCO), and International Association of Insurance Supervisors (IAIS)
Over 2 lakh hectare farmland damaged this year due to hydro-meteorological calamities: Tomar
The maximum damage was reported from Gujarat, followed by Kerala, Maharashtra, Uttar Pradesh, Karnataka, Odisha, and Goa in the said period.
South Africa port operator declares Force Majueure over over cyber attack
The measure covers the Durban, Ngqura, Port Elizabeth and Cape Town harbors because of the effects of the July 22 attack, according to a notice Transnet sent to customers and seen by Bloomberg News.
The issues “continue to persist,” it said. Force majeure is an unanticipated or uncontrollable event that releases a company from fulfilling contractual obligations.”The disruption threatens to have a ripple effect on Africa’s most-industrialized economy, particularly as Transnet’s Durban port handles 60% of the nation’s shipments. The ports are also key to shippers from landlocked African countries including the Democratic Republic of Congo, Zambia and Zimbabwe.
No pathway to reach the Paris Agreement’s 1.5˚C goal without the G20: UN chief
The UN chief reminded that science indicates that to meet that ‘ambitious, yet achievable goal’, the world must achieve carbon neutrality before 2050 and cut dangerous greenhouse gas emissions by 45 % by 2030 from 2010 levels. “But we are way off track”, he warned.
Insurance brokers Aon and Willis drop $30 bn merger move, Aon to pay $1 billion termination fee to Willis
“Despite regulatory momentum around the world, including the recent approval of our combination by the European Commission, we reached an impasse with the U.S. Department of Justice,” said Aon CEO Greg Case.
Scientists update forecasts on extreme weather and climate change
“It’s not so much that climate change itself is proceeding faster than expected — the warming is right in line with model predictions from decades ago,” said climate scientist Michael Mann of Pennsylvania State University. “Rather, it’s the fact that some of the impacts are greater than scientists predicted.”
That suggests that climate modeling may have been underestimating the “the potential for the dramatic rise in persistent weather extremes,” Mann said.
Virus variant and disasters strike strain global supply chains
Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists.
The Delta variant of the coronavirus has devastated parts of Asia and prompted many nations to cut off land access for sailors. That’s left captains unable to rotate weary crews and about 100,000 seafarers stranded at sea beyond their stints in a flashback to 2020 and the height of lockdowns.
Global insurance recovery will be faster, stronger than in 2008: Swiss Re
Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from capital losses, slow economic growth and depleted incomes of companies and individuals.
In contrast, businesses and individuals now have more money from government stimulus and support programs, and are more conscious of the need to buy protection against risks, he added.
Companies struggling to manage reporting on climate risks, says report
”Companies based in India presented 28 per cent on quality disclosure and 49 per cent coverage. Only 3 per cent of global companies reviewed meet the highest levels of quality and the average quality score is 42 per cent,” EY said in a release on Sunday.
Among others, the number of Indian companies responding to disclosure platforms such as carbon disclosure project is on the rise. In the coming year, greater Task Force on Climate-related Financial Disclosures reporting is expected, driven by pressure from financiers, investors and customers, it added.