This is the first time Taiping Reinsurance is bringing...
Category:
Reinsurance
Latest
Bagic’s T A Ramalingam takes over as first CEO of Prem Watsa’s Value Attics Reinsurance
T A Ramalingam, CEO, Value Attics Reinsurance Ramalingam, who...
Global energy insurance market continues to soften with capacity at an all-time high: Willis
In Asia, insurance capacity from Asian-based insurers remains very...
India needs Pandemic Pool to manage risks on long-term basis: CII
”This is the opportune time for India to have the first-mover advantage in the creation of the pandemic pool with a two-pronged strategy of going beyond the insurers and the government by inviting international reinsurers to supplement capital contribution for the pool and to incentivize state governments to participate with additional supplementary capital for greater protection to their denizens,” it added.
Climate change is driving a large increase in intense, slow-moving storms, a new study has found.
Researchers from the Newcastle University and the UK Met Office Hadley Centre used very detailed climate model simulations and found that slower storm movement acts to increase the amount of rainfall that accumulates locally, increasing the risk of flash floods across Europe beyond what has been expected based on previous studies.
The scientists estimate that these slow-moving storms may be 14 times more frequent across land by the end of the century. It is these slow-moving storms that have the potential for very high precipitation accumulations, with devastating impacts, as currently seen in Germany and Belgium.
Global sustainable debt issuance will crack $1 trillion mark in 2021 -IIF
With corporations and financial institutions under growing pressure from investors to up their environment, social and governance (ESG) game, the issuance of bonds to raise money for climate-related or social projects, or linked to sustainability targets, is an increasingly popular option.
Sustainable debt sales more than doubled year-on-year in the first half of 2021 to over $680 billion, closing in on the $700 billion issued during the whole of last year.
Rain fury claims 30 lives as fifth thunderstorm in a month batters Mumbai
Meanwhile, the flooding in the water purification complex at Bhandup affected the water supply in most parts of the metropolis, a BMC official said. The flooding has affected electrical equipment that controls the pumping and filtration processes there, one of the major sites of water supply to the country’s financial capital, following which the BMC asked citizens to boil water before drinking.
As floods hit western Europe, scientists say climate change hikes heavy rain
In general the rising average global temperature – now about 1.2 degrees Celsius above the pre-industrial average – makes heavy rainfall more likely, according to scientists.
The floods follow just weeks after a record-breaking heatwave killed hundreds of people in Canada and the United States. Scientists have since said that extreme heat would have been “virtually impossible” without climate change, which had made such an event 150 times more likely to occur.
Floods leave at least 108 dead in Europe
Joerg Asmussen, managing director of the German Insurance Association (GDV), said the prevalence of storms, floods, heavy rain and hail in Germany this year could make it one of the most damaging since 2013.
Heavy rain and hail in June caused an estimated insurance loss of 1.7 billion euros ($2 billion), he said by email.
Counting the costs: South Africa uninsured businesses wrecked by unrest
Many of South Africa’s small, medium-sized and micro enterprises (SMME) are not insured, compounding any attempts of recovery of those damaged in the unrest.
South African farmers dream of drought cover on climate front line
Now a plan has been formulated by insurers and the government for a 3.2 billion rand ($223 million), 10-year state subsidy scheme aimed at fixing the market’s problems, according to a South African Insurance Association (SAIA) document seen by Reuters that outlines the previously unreported proposals.
Work from home fueling cyberattacks, says global financial watchdog
“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks.The report is a first take on lessons learned from the pandemic’s impact on financial stability.
Seafarers’ slow Covid-19 vaccinations endanger maritime workers, hit global trade
The shipping industry is sounding the alarm as infections increase and some ports continue to restrict access to seafarers from developing countries that supply the majority of maritime workers but can’t vaccinate them.