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Allianz exits 2 Bajaj insurance JVs by selling its 26 % for Rs 24,180 crore, to set up new Indian insurance companies
Allianz, which had invested just Rs 174 crore in both the JVs way...
At least 33 dead as tornadoes ravage central US
"Numerous significant tornadoes, some of which may be long-track...
India’s farm sector performed well despite COVID-19, says Tomar
India has launched various projects under the National Mission on Sustainable Agriculture to develop, demonstrate and disseminate the techniques to make agriculture resilient to adverse impacts of climate change, union Agriculture Minister Narendra Singh Tomar said adding that India is promoting organic farming at a large scale.
”The agriculture sector in India performed well during the severe COVID-19 pandemic and registered an all-time high production of 305 million tonne of foodgrains as well as their exports (in 2020-21), contributing to the global food security,” he added.
Sri Lanka seeks initial $40m from fire-ravaged ship’s operator
The Sri Lankan authorities and the ship’s operator say there’s still no large oil spill
The Sri Lankan navy believes the blaze was caused by the vessel’s chemical cargo, which included 25 tons of nitric acid and other chemicals, most of which was destroyed in the fire. But debris including burned fiberglass and tons of plastic pellets have already polluted nearby beaches. There are concerns that a spill of remaining chemicals and oil on the ship could devastate marine life.
Ships skip Singapore as China congestion snarls supply chain
“The delays have already resulted in pressurizing soaring shipping prices within China due to a lack of containers and increased export demand,” said Josh Brazil, vice president of marketing at project44, a supply-chain intelligence firm. “These high shipping costs are just one factor that may contribute to an additional looming threat to global inflation.”
G7 to counter China’s BRI with big infrastructure project: US official
According to a Refinitiv database, as of mid-last year, more than 2,600 projects at a cost of $3.7 trillion were linked to the Belt and Road Initiative, although the Chinese foreign ministry said last June that about 20% of projects had been seriously affected by the COVID-19 pandemic.
In March, Biden said he had suggested to British Prime Minister Boris Johnson, hosting the G7 summit, that democratic countries should develop their own rival scheme.
Volkswagen to receive 270 million euro from its D&O Liability insurers in dieselgate settlement
The settlement marks a major milestone in Volkswagen’s efforts to turn a page on its biggest ever corporate scandal, which has cost it more than 32 billion euros in vehicle refits, fines and legal costs so far.
The scandal, which Volkswagen initially blamed on a small number of rogue engineers, also spurred it to launch a huge investment in electric cars.
With $42.61 billion net prm, Munich Re retains its ranking as top global reinsurer in 2020: S&P
From Asia ,China Re at the 7th position, Korea Re at the 14th ranking, and India’s GIC Re at 16th place are part of the S&P’s 2020 Top 25 global reinsurers’ list
Global insurance industry faces IFRS 17 costs estimated at $15 to $20 bn:Willis Towers Watson
Kamran Foroughi, Global IFRS 17 Advisory Leader at Willis Towers Watson, said: “This is an extraordinary figure that will naturally lead to many questions from Boards and investors.
“For many, significant improvements will also be required in business processes and finance operations to deliver IFRS 17 efficiently and link with other metrics. With smart investment and the right people, an insurer’s IFRS 17 programme has the potential to help deliver long-term annual savings to show against the daunting up-front costs.”
Willis Towers Watson collaborates on world-first insurance protection for endangered Mesoamerican Coral Reef
The Mesoamerican Barrier Reef System is listed as critically endangered by the IUCN Red List of Ecosystems and is home to 65 species of coral and more than 500 species of fish, as well as many other protected marine species. Coastal wetlands, lagoons, mangrove forests, and seagrass beds also protect against storms and coastal erosion.
Sedgwick announces new leadership appointments in Australia
Kimberley Daley was recently named head of professional services, and now four new appointments join the Australia leadership team, including:
Leon Briggs as , head of property, Emma Levett as head of forensic advisory services, Margot De Villiers as head of marine, Johanna Agar as capability development manager.
No Olympics if no athletes come to Japan, says Tokyo 2020 president
Already postponed from last year at the cost of an extra $3.5 billion, a scaled-down version of the Games, with no foreign spectators, is set to start on July 23.