Category

Tesla overtakes Toyota as the world’s most valuable automaker

Facts       Jul 01, 2020

  Tesla Inc. displaced Toyota Motor Corp. as the world’s most valuable automaker, underscoring investor enthusiasm for a company trying to transform an industry that’s relied on internal combustion engines for more than 130 years.   Shares of Tesla, which have more than doubled since the start...

AGCS embarks on global overhaul to regain profitability and market leadership

International News       Jul 01, 2020

  London/Munich/New York/Paris/Singapore:: Under its new leadership, Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, announced a comprehensive transformation program, “New AGCS”, to regain profitability and market leadership in the corporate and specialty insurance segment. Supported by a number of new leadership...

Insurers secure sufficient reinsurance capacity at the 1 July and 1 June renewals:Willis Re  

International News       Jul 01, 2020

  Singapore: Insurers were able to secure sufficient reinsurance capacity at the 1 July and 1 June renewals supported by adequate reinsurance capital.The remarkable recovery in investment markets allied with investors’ appetite to support additional capital and debt offerings and reinsurers own prudent risk and cost...

SBI General Insurance unveils new brand identity

Indian News       Jul 01, 2020

  Mumbai:: Before getting listed, SBI General Insurance (SBIG) today announced the launch of its new corporate brand identity with redesigned logo and the tagline ‘Suraksha aur Bharosa dono’.   Digitization has been always at core at SBIG, hence, at this stage the company has amalgamated focus...

India deploys helicopter,12 drones to stop fast-spreading locusts

Indian News       Jul 01, 2020

NEW DELHI: India on Tuesday deployed a helicopter and a dozen drones spraying insecticide to stop desert locusts that have spread to nine heartland states of the world’s second-biggest producer of rice and wheat.   The move came after swarms invaded Gurugram, a satellite city of...

Lloyd’s Chief Executive John Neal

Lloyd's calls for state-backed 'Black Swan' reinsurance

International News       Jul 01, 2020

LONDON:  “Black Swan” reinsurance schemes backed by governments could help businesses get insurance pay-outs after huge shocks such as the coronavirus pandemic, Lloyd’s of London said.   Commercial insurance market Lloyd’s has said insurers worldwide will pay out more than $100 billion in coronavirus-related claims this...

AXA XL receives green light for first Shanghai domiciled reinsurer

International News       Jul 01, 2020

  Singapore: AXA XL today announced its China subsidiary, XL Insurance (China) Company Limited has received green light from China Banking and Insurance Regulatory Commission (CBIRC) to change its business license in China from an insurance license to reinsurance. The new reinsurance legal entity will be...

Fauci, CDC chief raise concerns about full airline flights

International News       Jul 01, 2020

Washington: The US government's top experts in infectious diseases have criticised American Airlines' decision to pack flights full while the coronavirus outbreak continues to grow across much of the United States.   "Obviously that is something that is of concern. I'm not sure what went into...

Huge acceleration of clean energy innovation needed to meet net zero target: IEA

International News       Jul 01, 2020

LONDON: A global goal to achieve net zero carbon emissions by 2050 will not be met without a huge acceleration in clean energy innovation, the International Energy Agency (IEA) said on Thursday.   The 2015 Paris Agreement set a target to curb global warming and reach...

Millions at risk in Bangladesh as monsoon floods add to coronavirus worries

International News       Jul 01, 2020

  DHAKA: Hundreds of thousands of people in Bangladesh have been marooned and thousands of hectares of farmland submerged, officials said on Wednesday, as floods triggered by monsoon rains ravage the country already grappling with the coronavirus.   Officials said the flooding in Bangladesh was made worse...