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Swiss Re appoints Paul Murray as CEO Reinsurance Asia and Regional President
Paul Murray, CEO Reinsurance Asia, Regional President Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “We are pleased that Russell Higginbotham has accepted this new important position, driving forward our Reinsurance Solutions strategy. This is a...
Airline industry shifts attention to Russia risks after Ukraine closure
As airlines assessed the airspace risks, they have also been hit by a spike in oil prices to more than $105 per barrel for the first time since 2014 as a result of the conflict. That raises operating costs at a time when travel demand remains low because of the...
Cyberattacks accompany Russian military assault on Ukraine
Officials have long expected cyberattacks to both precede and accompany any Russian military incursion. The combination of DDoS attacks, which bombard websites with junk traffic to render them unreachable, and malware infections hewed to Russia's playbook of wedding...
UK to ban Aeroflot airline in ‘largest package’ of Russian sanctions
The “largest and most severe package” of economic sanctions against Russia tabled in the House of Commons includes a full asset-freeze of Russian state-owned bank VTB and powers to allow the UK to exclude Russian banks from Britain's financial system. London: Prime...
Global finance grapples with Ukraine crisis as shares slump
But in what will be a relief to Europe's banks, the EU is unlikely at this stage to take steps to cut off Russia from the SWIFT global interbank payments system, several EU sources said. European banks are most exposed to Russia, especially in France, Italy and...
JPC recommendations fundamentally alter Personal Data Protection Bill structure: IAMAI
It added that the additional requirement, suggested by the JPC, tasking the Data Protection Authority (DPA) to consult the government on all cross-border sensitive personal data transfers not only contradicts established global practices and undermines the role of the...
IRDAI wants govt to launch parametric catastrophic cover on pilot basis to deepen insurance penetration
India’s mortality protection gap is 83 per cent and 72 per cent of the households underestimate the need for protection. Digitalization will allow insurers to rethink their approach in pricing, distribution, and managing the value chain, said Hadi Riachi,CEO,...
“Govt willing to consider insurers demand to be on par with banks for issuing surety bonds” Alamelu
TL Almelu, member, Non-Life, Irdai ''A huge market is available for surety bonds in-country and now, the onus is on the insurance fraternity to come out with products quickly. We have already initiated at authority level discussions with the insurance agencies and...
Investors lose Rs 13 trn as Sensex crashes 2,702 pts amid global meltdown
"It was a big surprise for the world market as it was not anticipating a war. It was expecting a diplomatic meet between Biden and Putin. Markets around the globe plunged deep in red as the Ukraine crisis intensified with Russia's invasion into Eastern Ukraine. Crude...
Russia-Ukraine conflict raises big risks for global economy
Stocks have tumbled in anticipation of higher rates and a potential downturn. Market benchmarks in Europe and Asia fell by as much as 4% on Thursday, while Wall Street futures retreated by an unusually wide daily margin of 2.5%. Financial markets could grow even more...
2021, the most challenging year yet for cyber insurance market: Aon’s Asia Market Review
Organisations with better ability to tolerate risk, and with well-articulated submissions to the market, will have the competitive edge when it comes to accessing insurance coverage, said the report Cyber Threat: Insurance premiums and retentions increased sharply...
Market crash: 77 stocks on BSE 500 index hit their 52-week low levels, Investors lose Rs 10 lakh crores
''The Sensex has fallen 1,800 points, as Russia begins military operations in Ukraine. The geopolitical event has been causing a rout across equity markets, as the world can ill-afford further disruption in trade and commodities when COVID has already weakened...
GIC sued for $115 million by AM Re for cancellation of agreement
'GIC disputes the allegations of the complaint and will address claims at the appropriate time in the litigation. Beyond that, GIC has no comment on the allegations or claims asserted in that proceeding as the matter is pending adjudication before the US Courts,' the...
Global Population Growth and Sustainable Development
Most of the world’s future population growth will take place in developing countries. Since the middle of the twentieth century, the world has experienced unprecedented population growth. World population continues to grow but is expected to peak around 2100 at a...
Rising incomes more harmful to environment than population growth
The Global Population Growth and Sustainable Development report, launched on Wednesday, is the latest in a series on major demographic trends The number of people on the planet more than tripled since 1950 and could reach nearly 11 billion by the end of the century,...
How the World Health Organization might face future pandemics
A new pact is among more than 200 recommendations for shoring up the world's defences against new pathogens made by various reviewers following the COVID-19 pandemic that has killed more than 6.2 million people in two years Suggested proposals for the pact include the...
Insurer AIA Group sells Australian savings and investments business
AIA did not disclose a deal value for the sale, but said the business holds about A$8 billion ($5.77 billion) in funds under administration. The Australian savings and investment business, which offers superannuation and retirement products, was acquired by AIA...
Ukraine closes airspace to civilian flights amid “high risk” to safety
The aviation industry has taken heightened notice of the risks conflicts pose to civil aviation since Malaysia Airlines flight MH17 was shot down over eastern Ukraine in 2014 Kiev: Ukraine closed its airspace to civilian flights on Thursday, citing a high risk to...