Summers would become longer by 28 days in Beijing, 24-28 days in Shanghai, and more than 40 days in Guangzhou-Shenzhen if global emissions peak around 2040 and temperatures rise.
Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, yesterday set out how the insurance industry will partner with critical industries to support and accelerate the transition to a low carbon economy.
Despite the heavy rains that have flooded the central province of Henan in the second half of this month, AM Best says that it sees no imminent pressure on the credit fundamentals of mainland Chinese insurer, Zhongyuan Agricultural Insurance (ZYIC).
The Bank of Japan's (BOJ) inaugural Strategy on Climate Change, released earlier this month, may increase the availability of capital for green projects both domestically and internationally, says Fitch Ratings.
China's banking and insurance regulator has said that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings, reported Reuters.
Insurance claims from losses suffered from severe floods in Henan province are expected to exceed CNY8bn ($1.23bn) or about 0.7% of China's total non-life direct premiums written in 2020, Fitch Ratings says.
Japanese corporates can now avail parametric earthquake insurance using the compact seismograph, ACCURA certified by the Japan Meteorological Agency.
The insurance industry has received at least 360,000 claims, with an estimated loss of CNY9.2bn ($1.4bn) to date, because of massive once-in-1,000-years floods that have hit several parts of Henan province for more than a week.
The massive floods currently ravaging Henan Province in China are estimated to have cost economic losses of about CNY1.2bn ($186m) to date.
Global natural disasters in the first half of 2021 caused total economic of approximately $93bn - 32% lower compared to the 10-year average of $136bn - according to preliminary estimates by Aon. Meanwhile, insured losses were estimated at $42bn - 2% higher than the 10-year average ($41bn).