International News

Shell to appeal landmark climate case in the Netherlands

  Royal Dutch Shell Plc said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. Shell has said it will speed up its energy transition plans in response to the order, but...

Death rates soar in Southeast Asia as virus wave spreads

Eco/Invest/Demography, Health, Life, Non-Life, Pandemic       Jul 22, 2021

Indonesia has converted nearly its entire oxygen production to medical use just to meet the demand from COVID-19 patients struggling to breathe. Overflowing hospitals in Malaysia had to resort to treating patients on the floor. And in Myanmar's largest city, graveyard workers have been laboring...

J&J forecasts $2.5 bln in 2021 COVID-19 vaccine sales, sets lower production target

Health, Pandemic       Jul 22, 2021

  Johnson & Johnson on Wednesday forecast $2.5 billion in 2021 sales for its COVID-19 shot and set a lower production target for the vaccine as lengthy manufacturing problems took a toll. The company now expects to produce 500 million to 600 million doses of its...

Aki Hussain to succeed Bronek Masojada as Group Chief Executive in Hiscox

Non-Life, Reinsurance       Jul 21, 2021

Hamilton: Specialist global insurer Hiscox announces today that after 21 years as Group Chief Executive, Bronek Masojada has informed the Board of his intention to retire at the end of the year. Following a thorough succession process, the Board has appointed Aki Hussain, currently Group...

As US wildfire threat grows, insurance capacity shrinks

  Excessive heat and drought conditions, combined with other adverse weather conditions, spawned a damaging series of wildfires in the western U.S., a trend that could have a significant impact on the property and casualty insurance market. The National Interagency Fire Center, or NIFC, in its...

Insured losses from western German floods may total 4-5 billion euros - trade body

Eco/Invest/Demography, Non-Life, Reinsurance       Jul 22, 2021

BERLIN: Insured losses from floods in western Germany last week may total 4 billion to 5 billion euros ($4.7-5.9 billion), insurance industry association GDV said on Wednesday. It said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65...

U.S. judge narrows focus of antitrust suit over $30 bln Aon-Willis merger

  NEW YORK: - A federal judge has narrowed the scope of a U.S. Department of Justice lawsuit blocking the proposed $30 billion merger of insurance brokers Aon PLC  and Willis Towers Watson PLC, allowing the companies to finalize remedies for three of five issues raised...

Saudi Aramco facing USD 50M cyber extortion over leaked data

Non-Life, Technology       Jul 22, 2021

  Dubai: Saudi Arabia's state oil giant acknowledged Wednesday that leaked data from the company - files now apparently being used in a cyber-extortion attempt involving a USD 50 million ransom demand - likely came from one of its contractors. The Saudi Arabian Oil Co., better...

From China to Germany, floods expose climate vulnerability

Deadly floods that have upended life in both China and Germany have sent a stark reminder that climate change is making weather more extreme across the globe. At least 25 people in the central Chinese province of Henan died on Tuesday, including a dozen trapped...