The Bermuda Monetary Authority (BMA) has completed its United Kingdom (UK) Data Claim Survey for this year, showing that from 2016 to 2020, Bermuda re/insurers paid out US$35.2 billion to UK policyholders and cedants for large catastrophes, property and casualty losses and life insurance claims. A news report by Reinsurance News indicated that compared to […]
The U.S. Securities and Exchange Commission on Monday charged three media outfits, namely the New York City-based GTV Media Group Inc., Saraca Media Group Inc., and Phoenix, Arizona-based Voice of Guo Media Inc., with conducting an illegal unregistered offering of GTV common stock. The commission also announced charges against GTV and Saraca for conducting an […]
The European Central Bank (ECB) on Thursday disclosed that it was slowing down some of its massive emergency pandemic support for the Eurozone economy as business activities and consumer spending in the 19 member-countries begin gradual rebound from the COVID-19-spurred recession. The bank stated that it could conduct its bond purchase stimulus at “a moderately […]
President Muhammadu Buhari on Tuesday expressed Nigeria’s appreciation to the Kingdom of Saudi Arabia for conceding oil production quota to Nigeria in the past. Buhari, gave the commendation when he hosted Saudi Arabian Minister of Foreign Affairs, Prince Faisal Bin Farhan Al-Saud, at the State House, Abuja. A statement issued by the President’s Media Adviser, […]
Thailand on Wednesday commenced value added tax (VAT) collection from foreign technology companies and expects to raise at least 5 billion baht ($154.70 million) in additional revenue yearly from the revenue source. Under the new fiscal regulations, foreign platforms providing electronic services in the country will have to register for VAT payments. According to news […]
The United States’ Internal Revenue Service on Tuesday announced that victims of Hurricane Ida that began on August 26 now have until January 3, 2022, to file various individual and business tax returns and make tax payments. The IRS, stated on its website that it was offering this relief to any area designated by the […]
China’s video game regulator has directed that online gamers under the age of 18 will only be allowed to play for an hour on Fridays, weekends and holidays. A news report by BBC.com indicated that the National Press and Publication Administration told state-run news agency Xinhua that game-playing would be only allowed between 8pm to […]
The International Labour Organization (ILO) will issue its World Social Protection Report 2020-22: Social protection at the crossroads in pursuit of a better future on Wednesday, 1 September. A statement by the ILO indicated that the flagship report provided a global overview of recent developments in social protection systems, including social protection floors, and covers […]
Catastrophe risk modelling firm, RMS, has estimated that the insurance and reinsurance industry loss from July’s devastating flooding across Europe could be as high as €6.5 billion (US $7.7bn). Industry analysts believe, however, that RMS’s estimate may prove too low as its lower insured loss for Germany is lower than even the country’s own insurance […]
Fitch Ratings, a leading global research and rating firm, has projected that cyber reinsurance would help drive growth in sundry Asia Pacific (APAC) region’s economies in the 2021 year as more companies embrace re-insurance policy options to protect their investment The APAC region was reported to have accounted for 7% of the total global ransomware […]