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May 2024



China: Cost of insuring Xiaomi's first EV unveiled

The insurance premium for Xiaomi Automobile’s first electric vehicle (EV) model is similar to that for fossil-fuel-powered cars which are about 66% more expensive.

Japan: Two major non-life insurers issue CAT bonds

Mitsui Sumitomo Insurance Company and Aioi Nissay Dowa Insurance, as members of the MS&AD Insurance Group, have jointly issued the ‘Tomoni Re 2024’ catastrophe bonds (CAT bonds) in Singapore covering domestic natural disaster risks in Japan.

Taiwan: 3 April 'quake insurance claims unlikely to exceed losses chalked up in 2016

Earthquake-related claims for Taiwan’s commercial insurers related to April’s seismic event are unlikely to exceed those stemming from the 2016 Meinkong earthquake, according to AM Best.

Thailand: Policyholder protection fund running out of money

The General Insurance Fund (GIF), whose purpose is policyholder protection, has said that it must postpone compensation to policyholders of insurance companies that have had their licences revoked.


Asia struggles to contain record e-waste

Asia’s per capita burden of junked ‘phones and other electronic and electrical gadgets is still low, but it struggles to contain this e-waste deluge that is gradually building up according to a new report by the UN.

AI improves global flood forecasting and extends alert time

A new study, Global prediction of extreme floods in ungauged watersheds published in a recent issue of scientific journal Nature says AI and machine learning technologies have significantly improved global flood forecasting, particularly in regions where flood-related data is scare.

Majority of recent CO2 emissions linked to 57 producers

A new report shows that most global CO2 emissions produced since the Paris agreement can be traced to a small group of 57 high emitters who are failing to slow production.

Huge spike in insured losses expected

Swiss Re Institute’s latest projections suggest that insured losses could double over the next decade, exacerbated by rising temperatures and more frequent and intense extreme weather events.