International News

EU removes Bermuda, Aruba, Barbados from tax haven blacklist

      May 18, 2019

  BRUSSELS:  European Union finance ministers removed on Friday Bermuda, Barbados and Aruba from the bloc’s blacklist of tax haven countries, an EU statement said.   The three islands were added to the list in March. Aruba has been removed because it is in the process of...

London marine insurers widen Middle East threat zone after ship attacks

   LONDON:  London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market’s Joint...

Boeing completes 737 Max software upgrade

Non-Life, Risk Management, Technology       May 17, 2019

  Chicago: Boeing has completed development of a software update for its 737 Max plane which was grounded following two fatal crashes within five months.The US firm announced that it had flown the 737 Max with the updated software on 207 flights.   It added it would...

Aon and Guy Carpenter partner with The Institutes RiskStream, to streamline the reinsurance placement process

Reinsurance, Risk Management, Technology       May 17, 2019

  London:  The Reinsurance Solutions business of Aon plc, and Guy Carpenter, a subsidiary of Marsh & McLennan Companies, have announce a joint effort with The Institutes RiskStream™ Collaborative to bring greater efficiency to the reinsurance placement process through distributed ledger technology (DLT).   The collaboration leverages...

Ping An ranks 7th on Forbes' 'Global 2000' List

Eco/Invest/Demography, Non-Life       May 16, 2019

SHANGHAI and HONG KONG: On 15 May 2019, Forbes magazine released its "Global 2000" rankings for listed companies. Benefitting from steady growth in operating income, profit, assets and market capitalization, Ping An has moved up to 7th position in the 2018 rankings, climbing 3 places...

Commercial insurance prices up 3% globally, 1.1% in U.S. in Q1: Marsh

Non-Life       May 16, 2019

   Average global commercial insurance prices increased 3 per cent in the first quarter of2019, according to broker Marsh.   This represents the sixth consecutive quarter of average commercial insurance pricing increases, Marsh said in its Global Insurance Market Index for the first quarter of 2019   While...

Advisory firms urge ‘No’ vote on AIG execs’ pay packages

Eco/Invest/Demography, Non-Life       May 16, 2019

American International Group Inc. shareholders should vote against compensation packages for top executives at the insurer’s annual meeting next week, according to two advisory firms that hold sway over investor votes.   Institutional Shareholder Services Inc and Glass Lewis & Co, which together influence the vast...

U.S. blacklisting of China’s Huawei to disrupt Global Technology Supply Chain

Eco/Invest/Demography, Risk Management       May 16, 2019

  The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment.   The Trump administration has said it...

Electric flying taxi unveiled, could be operating worldwide by 2025

Technology       May 16, 2019

The world’s first all-electric vertical takeoff and landing passenger jet has been unveiled after completing its first flight.   German startup Lilium aims to have a fleet of the five-seat aircraft -- which can operate with a pilot or in drone mode -- flying in cities...

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