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Indian
Investors’ wealth tumbles by over Rs 8.47 trn amid global sell-off
In just two sessions, the total investors' wealth has eroded by...
LIC IPO: Market crash makes India’s biggest listing a tough task
India will need bulky commitments from anchor investors, who will...
India bans 54 more Chinese apps citing security concerns
The apps banned by the Ministry of Electronics and Information...
Axis Bank set to buy Citigroup’s India retail unit for $2.5 bn: Report
For Citigroup Chief Executive Officer Jane Fraser, the planned...
International
Pandemic brings hard times for farmers, worsening hunger
The U.N. Food and Agricultural Organization forecasts that the number of undernourished people will increase by up to 132 million in this year, while the number of acutely malnourished children will rise by 6.7 billion worldwide due to the pandemic.
“We are facing two pandemics. COVID-19, which beyond its health toll is crushing livelihoods, and hunger, a scourge the international community pledged to eradicate by the end of this decade,” Qu Dongyu, the FAO’s director-general said in a commentary ahead of the virtual meeting.
Global reinsurers maintain equilibrium through COVID-19 turbulence:AM Best
The global reinsurance composite has produced a five-year (2015-2019) average combined ratio of 99.6% and a return on equity of 5.7%. The report notes, however, that 3-4 percentage points of that combined ratio performance is attributable to favorable loss reserve development. This benefit continues to diminish, and without prompt, corrective action, will create a drag on earnings.
Companies’ individual abilities to take advantage of the hardening market conditions are likely to be influenced by a flight to quality. After three years of significant industry losses, those companies with a solid financial strength, robust reputation and market position, as well as stable, consistent and transparent results, should be best-positioned to optimize their underwriting risk portfolio and continue to attract and deploy capital. In the medium term,
Swiss Re Ltd. retained the top spot as the world’s largest reinsurer, as measured by reinsurance gross premium written, in AM Best’s highly regarded annual ranking of the Top 50 Global Reinsurance Groups. Munich Reinsurance Company again was No. 2 in this latest ranking as the top 10 remained largely stable from last year.
Pradip Ghosh appointed as president of Lockton Capital Markets
KANSAS CITY: Lockton Companies has announced the appointment of...
Germany’s Merkel says world needs to do more to combat climate change
The European Commission will next month propose a new 2030 climate target for a 50% or 55% emissions reduction against 1990 levels, compared with an existing goal for a 40%.
Germany is Europe’s largest greenhouse gas emitter, and the country’s environment ministry said last week that, while it can meet its climate target for 2020, it would have missed the goal if the economic havoc wrought by the coronavirus pandemic had not caused a large drop in emissions.
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