International News

Rumbling volcano shuts down Philippine capital

Disaster & Management, Eco/Invest/Demography       Jan 13, 2020

  MANILA:  Schools and businesses shut across the Philippine capital on Monday as a volcano belched clouds of ash across the city and seismologists warned an eruption could happen at any time, potentially triggering a tsunami.   Thousands of people were forced to evacuate their homes around...

Lawsuits over missing Malaysia plane belong in Malaysia, not U.S., court affirms

Non-Life       Jan 13, 2020

  A U.S. appeals court on Friday upheld a lower court decision to dismiss nationwide litigation over the disappearance of Malaysia Airlines Flight MH370 in which victims’ families sought to hold the carrier, its insurer Allianz SE and Boeing Co. liable for the still-unexplained disaster.   A...

US, Europe to test Boeing 737 Max from Jan 15; India to take a call later

Non-Life, Technology       Jan 12, 2020

  New Delhi: US, Europe to test Boeing 737 Max from Jan 15; India to take a call laterAs Boeing 737 Max recertification process enters the last phase, the civil aviation regulators of the US and Europe have decided to jointly conduct safety test flights from...

Scandal-hit Indonesian insurer, with $2B financial hole, could get government bailout

Life, Regulation       Jan 10, 2020

  Jakarta: Policyholders at Indonesia’s state-owned PT Asuransi Jiwasraya are looking to the government to rescue the scandal-hit insurer, which has uncovered a $2 billion hole in its books.   The crisis affects 17,000 buyers of investment products and 7 million clients, and may pose systemic risks,...

Iran apologises for plane crash, blames human error and 'US adventurism

Non-Life, Reinsurance       Jan 11, 2020

  Paris: The Ukrainian plane crash earlier this week was caused by human error and "U.S. adventurism", Iranian Foreign Minister Mohammad Javad Zarif said in a tweet on Saturday.   "A sad day. Preliminary conclusions of internal investigation by Armed Forces: Human error at time of crisis...

Cat bond issuance breaches historic $100bn milestone: Aon Securities data

Eco/Invest/Demography, Reinsurance       Jan 10, 2020

  Chicago: Aon Securities, the investment banking division of Aon plc  said catastrophe bond sector has surpassed USD100bn in cumulative issuance since its inception more than 20 years ago.   The sector, which began with the placement of a USD45m all-peril catastrophe bond in 1996, has since...

AXA insurance launches first-in-market plan for Cancer survivors

Eco/Invest/Demography, Health, Life       Jan 10, 2020

  Singapore: AXA Insurance has launched the first protection plan in Singapore specially designed for cancer survivors. With improvements in screening and treatment, survival rates for people with cancer have increased over the years in Singapore. However, many are left without insurance protection against possible relapse...

‘Impossible’ to agree to full EU-U.K. Brexit trade deal by year end: EU Head

Eco/Invest/Demography       Jan 09, 2020

  London: Britain will find it “basically impossible” to negotiate all aspects of its future relationship with the European Union by the end of this year, the head of the European Commission said on Wednesday, adding that both sides must pick priorities.   Speaking at the London...

U.K. Lawmakers Approve EU Exit at End of January with 11 Months of Trade Talks Ahead

Eco/Invest/Demography       Jan 09, 2020

London: Lawmakers approved legislation on Thursday which will allow Britain to leave the European Union on Jan. 31 with an exit deal, ending more than three years of tumult over the terms of the unprecedented divorce.   They voted 330 to 231 in favor of the...