International News

Lloyd’s to pay up to £5bn as gross COVID-19 claims

Non-Life, Pandemic, Reinsurance       Sep 10, 2020

  London: Lloyd’s today confirmed it expects to pay out up to £5bn in COVID-19 customer claims on a gross basis*, with the publication of its 2020 Half Year Results. In the first six months of 2020, Lloyd’s COVID-19 claims after reinsurance recoveries totalled £2.4bn, contributing...

Global Coronavirus deaths hit 9,00,000 as cases surge in India

Eco/Invest/Demography, Health, Non-Life, Pandemic       Sep 10, 2020

  The global death toll from the coronavirus passed 900,000 on Wednesday, as worldwide cases topped 27.7 million, according to a Reuters tally. The United States remains the world’s worst-affected country, with deaths exceeding 190,000 and cases exceeding 6.3 million. Brazil is in second place with...

UK Prime Minister Boris Johnson

UK PM plans law banning large gatherings as COVID-19 cases rise

Eco/Invest/Demography, Health, Non-Life, Pandemic       Sep 09, 2020

London:  UK Prime Minister Boris Johnson is planning tougher new restrictions on social gatherings of more than six people in England starting next Monday, following a significant rise in the coronavirus cases. A law change to be introduced will ban larger groups of friends and...

Boeing finds new problem with 787 that will delay deliveries

Eco/Invest/Demography       Sep 09, 2020

Inspections triggered by production flaws in Boeing’s 787 jetliner are further slowing deliveries of the two-aisle planes, compounding Boeing’s struggle to recover from the grounding of its 737 Max and the coronavirus pandemic. Boeing has recorded its first orders of the year for the grounded...

First batch of Russia's Covid-19 vaccine Sputnik V released into public

Eco/Invest/Demography, Health, Pandemic       Sep 09, 2020

The first batch of Sputnik V vaccine against coronavirus, developed by Russia's Gamaleya National Research Center of Epidemiology and Microbiology and the Russian Direct Investment Fund (RDIF) has been released into civil circulation, regional deliveries are planned in the nearest future, the Russian Health Ministry...

Denis Kessler,Chairman & Chief Executive Officer SCOR, 

``SCOR well positioned to capture profitable growth opportunities'':Kessler

Eco/Invest/Demography, Reinsurance       Sep 09, 2020

Paris: SCOR has three key positive messages for its Investor Day. At its annual Investor Day, Denis Kessler,Chairman & Chief Executive Officer SCOR, presented an overview of the first year of the “Quantum Leap” strategic plan and said the company is absorbing the impact of...

AstraZeneca suspends leading COVID-19 vaccine trials after a participant's illness

London: AstraZeneca Plc said it has paused global trials, including large late-stage trials, of its experimental coronavirus vaccine due to an unexplained illness in a study participant. The vaccine, developed with the University of Oxford, has been described by the World Health Organization as probably...

US, European Covid-19 vaccine developers pledge to uphold testing rigour

Eco/Invest/Demography, Health       Sep 08, 2020

Developers globally have yet to produce large-scale trial data showing actual infections in participants, yet Russia granted approval to a COVID-19 vaccine last month, prompting some Western experts to criticize a lack of testing. The head of China’s Sinovac Biotech said most of its employees...

Munich Re expects Beirut losses of €100 million; sees slowdown in COVID-19 losses

Eco/Invest/Demography, Non-Life, Reinsurance       Sep 08, 2020

  Munich Re said it faces claims of at least 100 million euros ($118 million) stemming from the deadly explosion that ravaged much of downtown Beirut last month. The German reinsurer said losses in the “low three-digit-million euro range” are expected, mostly relating to property, according...