International News

U.S. authorizes Johnson & Johnson’s COVID-19 vaccine

Eco/Invest/Demography, Health, Pandemic       Feb 28, 2021

  Washington: The United States on Saturday authorized Johnson & Johnson's Covid vaccine for emergency use, giving the nation a third shot to battle the outbreak that has killed more than 500,000 Americans. The single-shot vaccine is highly effective in preventing severe Covid-19, including against newer...

Specialty insurer and reinsurer SiriusPoint launches with over $3bn in capital

Eco/Invest/Demography, Reinsurance, Technology       Feb 26, 2021

  HAMILTON, Bermuda: SiriusPoint Ltd, an international specialty insurance and reinsurance company, has today launched with over $3 billion in initial capital. The Bermuda-based Company has been formed as the result of the previously announced merger between Third Point Reinsurance Ltd.  a specialty reinsurer, and Sirius...

S&P insurers moving cautiously in the aftermath of massive Texas Ice storm Uri

  NEW YORK: Based on preliminary observations, S&P Global Ratings thinks the estimated insured losses covered by private insurers on the unusually severe Winter Storm Uri that began on Feb. 9, 2021, and swept through Texas and neighboring states are somewhat comparable with those from Hurricane...

UK health insurers' profitability still strong despite coronavirus disruption:Fitch

Eco/Invest/Demography, Health, Non-Life, Pandemic       Feb 26, 2021

  London: The coronavirus pandemic will have only a minimal impact on UK health insurers' earnings in 2020-2021, Fitch Ratings says in a new report. Claims have reduced due to restricted hospital access, but we do not expect increased profits for insurers - any "excess" profits...

Carbon-cutting pledges by countries nowhere near enough:UN

  United Nation: The newest pledges by countries to cut greenhouse gas emissions are falling far short of what's needed to limit global warming to what the Paris climate accord seeks, a new United Nations report finds. So the U.N.'s climate chief is telling nations to...

Climate pledges for 2030 put world far off 1.5C goal, UN warns

BARCELONA: Updated plans to reduce emissions, submitted so far by about 75 nations ahead of November's COP26 summit, barely make a dent in the huge cuts needed to meet global climate goals, the U.N. climate chief said on Friday, calling for redoubled efforts. A U.N....

Boeing to pay $6.6 million to FAA over safety lapses

  Boeing Co. agreed Thursday to pay $6.6 million in penalties to the Federal Aviation Administration (FAA) after U.S. regulators said it failed to comply with a 2015 safety agreement and cited other safety concerns. The penalties include $5.4 million for not complying with the agreement...

Global insurers unite to tackle climate risk with launch of Geneva Association Task Force

  ZURICH: The Geneva Association's new report, Climate Risk Assessment for the Insurance Industry, finds that, for both P&C and life re/insurers, climate change poses different levels of physical and transition risks to both sides of the balance sheet, liabilities and assets. The task force will...

Oxford University says research not affected after media reports of COVID lab hack

Eco/Invest/Demography, Risk Management       Feb 26, 2021

  Oxford University said on Thursday it was investigating a cyber attack but that research was unaffected, following media reports that one of its biology laboratories researching COVID-19 had been hacked. The breach took place in mid-February and occurred at the Division of Structural Biology, known...

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