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  • Munich Re manages profit - but COVID-19 takes its toll

    The German-headquartered reinsurance group Munich Re closed the year 2020 with a profit of EUR1.2bn ($1.46bn) despite the year being marked by high losses due to the COVID-19 pandemic.

    AIRPlus | 01 Mar 2021
  • Global: AXA hit by US$1.8bn COVID-19 losses

    French global insurer AXA announced yesterday that its underlying earnings decreased by 34% to EUR4.3bn ($5.2bn), notably hit by COVID-19 related claims and by higher natural catastrophes.

    Asia | 26 Feb 2021
  • Gig workers to form 20% of finance workforce in next five years

    More than half (52%) of financial institutions say they expect to have more gig-based employees in the next three to five years, according to PwC's report, 'Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services'.

    AIRPlus | 25 Feb 2021
  • Reputational risk, the rising tide

    As society becomes increasingly digital savvy, more and more people are turning to online reviews on rating sites, social media and online forums. This has led to a swell of reputational risk for businesses and organisations as many of these ratings and sites can be easily manipulated.

    AIRPlus | 25 Feb 2021
  • No-fault compensation programme for COVID-19 vaccines

    A new global programme will make compensation available to eligible individuals in 92 low- and middle-income countries without the need to resort to law courts. The programme being implemented by a collaboration of World Health Organization (WHO) and Chubb is the first global vaccine injury compensation mechanism.

    AIRPlus | 25 Feb 2021
  • Global: COVID-19 expected to boost reinsurance growth despite losses faced by reinsurers

    Paris headquartered SCOR says that COVID-19 is helping to create the conditions for stronger reinsurance growth along with a positive pricing dynamic, even though the pandemic cost the global reinsurance company EUR640m ($777m) in 2020.

    Asia | 25 Feb 2021
  • Takaful: Shariah compliance sustains franchise strength

    The takaful model carries considerable franchise risk, as takaful insurers are exposed to franchise reputation and going-concern risk in the event of non-compliance with Shariah law, says Moody's Investors Service in a report entitled "Characteristics of takaful insurers".

    Middle East | 24 Feb 2021
  • Cyber risks to industrial control systems

    Internet of things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new report released by Lloyd's in partnership with cyber analytics firm CyberCube and reinsurance broker Guy Carpenter.

    AIRPlus | 24 Feb 2021
  • Progress towards a more inclusive culture

    Lloyd's has announced the results of its 2020 annual culture survey, which is designed to track the market's collective progress towards a more inclusive environment and identify areas that need specific attention and action to drive culture change.

    Asia Risk | 24 Feb 2021
  • A new reputational crisis solution launched

    Willis Towers Watson and Liberty Specialty Markets have together launched Reputational Crisis Insurance - a new solution that enables organisations to transfer the financial risk associated with certain types of reputational crises in addition to providing access to a range of non-insurance capabilities.

    Asia Risk | 24 Feb 2021


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