by AIP Online Bureau | Dec 19, 2019 | Eco/Invest/Demography, International News, Regulation, Risk Management
The Financial Action Task Force (FATF), the global standard-setting body for anti-money laundering and combating the financing of terrorism (AML/CFT), has called on its members and other jurisdictions to apply counter- measures to protect the international...
by AIP Online Bureau | Dec 19, 2019 | International News, Life, Non-Life, Pension & Social Security, Regulation
While the European insurance sector remains overall well capitalized with a median Solvency ratio of 212 per cent, significant disparities remain across undertakings and countries. Overall solvency positions have also deteriorated in the first half of 2019 and...
by AIP Online Bureau | Dec 19, 2019 | Health, International News
Cigna Corp (CI.N) said on Wednesday it had agreed to sell its disability and accidental death insurance unit for company employees to New York Life Insurance Co in a $6.3 billion deal. Shares of the company were up 2% at $197.40 in early trade. The...
by AIP Online Bureau | Dec 19, 2019 | International News, Non-Life
London: MS Amlin, the global (re)insurer has confirmed that it will cease underwriting Corporate Property, Real Estate, Casualty and Package Binders through its UK P&C business with effect from 31st January 2020. This announcement follows the outcome...
by AIP Online Bureau | Dec 19, 2019 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, International News, Non-Life, Reinsurance
Zurich: Total economic losses from natural and man-made catastrophes fell to around USD 140 billion in 2019 from USD 176 billion last year, according to preliminary sigma estimates, from Swiss Re Institute. Global insured losses are...
by AIP Online Bureau | Dec 19, 2019 | Indian News, Life, Policy, Regulation
New Delhi: Life insurers have sought 100 per cent foreign direct investment (FDI) limit for the sector through automatic route, which can help the sector attract capital of Rs 40,000-60,000 crore. India has received nearly Rs 30,000 crore worth of FDI in...
by AIP Online Bureau | Dec 18, 2019 | Eco/Invest/Demography, International News, Life, Non-Life
Britain’s exports of financial and related services rose to 83 billion pounds ($106.5 billion) last year, with the European Union still the biggest customer, underscoring the importance of retaining market access to the bloc after Brexit. The...
by AIP Online Bureau | Dec 18, 2019 | International News
An Ireland-based plane lessor sued Boeing Co. on Tuesday for breaching a contract for 22 of the U.S. planemaker’s 737 MAX aircraft and sought a compensation of $185 million. Timaero Ireland Ltd. cited design flaws in Boeing’s best-selling...
by AIP Online Bureau | Dec 18, 2019 | Banking & Bancassurance, Eco/Invest/Demography, Indian News
Mumbai: Concerned over the Central and state departments withdrawing deposits from IDBI Bank and also not offering fresh business to the LIC-owned lender, the finance ministry has suggested these departments to continue to do business with the struggling lender....
by AIP Online Bureau | Dec 18, 2019 | Eco/Invest/Demography, Health, Indian News
New Delhi: India should take “urgent action” to tackle air pollution as the levels of toxic air in many cities of the country are much higher than the recommended guidelines, which could have a major impact on people's health, WHO Director Maria...
