International News

Lloyd’s returns to profit in 1st Half after 2 full years of losses

Non-Life, Reinsurance       Sep 18, 2019

  London: Lloyd’s Returns to Profit in 1st Half After 2 Full Years of LossesLloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses.   The more than 300-year-old corporation made a profit before tax of 2.3 billion...

New York state bans flavored e-cigarettes

Eco/Invest/Demography, Health       Sep 18, 2019

New York: New York became the second state to ban flavored e-cigarettes on Tuesday after its Democratic governor called for emergency action in response to concerns about their rising use among teens and a nationwide spate of lung illnesses. Governor Andrew Cuomo on Sunday called...

Governance is the most influential ESG factor for both banks & NBFI:Fitch

Eco/Invest/Demography       Sep 16, 2019

  Hong Kong/New York/London: Fitch Ratings has launched an ESG 'heat map' covering 29 different sub-sectors for Financial Institutions to provide further insight into the relevance of Environmental, Social, and Governance (ESG) factors to credit ratings.   The heat map shows Governance is the most influential ESG...

Insured losses for Typhoon Faxai estimated at $3B-$7B: AIR Worldwide

Disaster & Management, Eco/Invest/Demography       Sep 15, 2019

   BOSTON: Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoon Faxai, which made landfall in Japan on September 9, will be between JPY 340 billion (USD 3 billion) and JPY 740 billion (USD 7 billion). AIR Worldwide is a Verisk (Nasdaq:VRSK)...

Drone attacks strike major Saudi Aramco facility, oilfield

Non-Life, Risk Management, Technology       Sep 14, 2019

  Dubai: Drone attacks targeted a major Saudi Aramco processing facility and oilfield in eastern Saudi Arabia Saturday, the Interior Ministry said, sparking a huge fire at one of the sites before dawn. No one immediately claimed responsibility for the attack, which comes amid previous drone...

Analysts see 2020 reinsurance price hikes due to catastrophes

Eco/Invest/Demography, Reinsurance       Sep 09, 2019

Insurers are increasingly concerned about the impact of bad weather linked to climate change, with an increase in wildfires in California among the most costly in recent years, something S&P said could see rates there jump 30-70%.   Big insurance losses from hurricanes, wildfires and other...

Google to pay $170 million fine for sharing YouTube kids data

Risk Management, Technology       Sep 04, 2019

  Google agreed to pay a $170 million fine to settle charges that it illegally collected and shared data from children on its YouTube video service without consent of parents, US officials announced on September 4. The settlement with the Federal Trade Commission and the New...

Total reinsurance capital at $559 bn in H1 2019, up 8% driven by strong investment markets: Willis Re

Eco/Invest/Demography, Non-Life, Reinsurance       Sep 04, 2019

  London: Total capital dedicated to the global reinsurance industry measured USD 559 billion at the half-year point of 2019. This is an 8 per cent increase from a re-stated USD 518 billion at year-end 2018[1], with strong investment markets being the main driver of the...

Global reinsurance market to see consolidation, product & service innovation:S&P

  New York: S&P Global Ratings has kept its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates.   This assessment is mostly based on reinsurers' still-robust capital adequacy and relatively disciplined underwriting, at least so far, supported by well-developed...

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