International News

Oneglobal Broking sets up Asian operation in Hong Kong

Intermediaries, Non-Life       Aug 05, 2020

   London: UK based Oneglobal Broking has announced the establishment of Oneglobal Group Asia and that its first operating company,Oneglobal Broking Hong Kong Ltd, after receiving regulatory approval from the local Insurance Authority. Anthony Langridge has bben appointed Chairman of Oneglobal Hong Kong, reporting to Jonathan...

Proportion of youth with COVID-19 triples in five months: WHO

Young people who are hitting nightclubs and beaches are leading a rise in fresh coronavirus cases across the world, with the proportion of those aged 15 to 24 who are infected rising three-fold in about five months, the World Health Organization said. An analysis by...

Global coronavirus deaths exceed 700,000, one person dies every 15 seconds on average

  The global death toll from COVID-19 surpassed 700,000 on Wednesday, according to a Reuters tally, with the United States, Brazil, India and Mexico leading the rise in fatalities Nearly 5,900 people are dying every 24 hours from COVID-19 on average, according to Reuters calculations based...

Aviation sector has biggest pandemic default risk:insurance survey

Eco/Invest/Demography       Aug 03, 2020

  LONDON : The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday. Only 29% of credit and political risk insurers had seen claims directly related to...

Insurers face possible British action over calculation of pandemic payouts

LONDON: Insurers that do not treat customers fairly when calculating payouts for business interruption due to the coronavirus crisis will face action by Britain’s markets watchdog. The Financial Conduct Authority (FCA) has taken eight insurers to court over business interruption policy wordings, which the insurers...

Lloyd’s appoints new Country Manager for Singapore

Non-Life, Reinsurance       Aug 03, 2020

LONDON: Lloyd’s, the world’s leading specialist insurance and reinsurance market today announced Pavlos Spyropoulos as Country Manager, Singapore and CEO, Lloyd’s Asia, effective 29 July 2020. Pavlos has more than 12 years of experience at Lloyd’s and a deep understanding of the APAC (re)insurance markets,...

Chinese artificial intelligence company files $1.4 bn lawsuit against Apple In patent fight

  Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co. Ltd,. also known as Xiao-i, has filed a lawsuit against Apple Inc, alleging it has infringed on its patents. The company is calling for 10 billion yuan ($1.4 billion) in damages and demands that Apple...

AstraZeneca to be exempt from coronavirus vaccine liability claims in most countries

  AstraZeneca has been granted protection from future product liability claims related to its COVID-19 vaccine hopeful by most of the countries with which it has struck supply agreements, a senior executive told Reuters. With 25 companies testing their vaccine candidates on humans and getting ready...

Anxious WHO implores world to 'do it all' in long war on COVID-19

  GENEVA: The World Health Organization warned on Monday that there might never be a “silver bullet” for COVID-19 in the form of a perfect vaccine and that the road to normality would be long, with some countries requiring a reset of strategy.More than 18.14 million...