Fintech PR
Aon: Record $50bn U.S. Severe Convective Storm Losses Drive Total Natural Catastrophe Toll in 2023
Global SCS caused 70% of insured cat loss in first nine months
LONDON, Oct. 19, 2023 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today launched its Q3 Global Catastrophe Recap report, which analyses natural hazard activity worldwide in the third quarter of 2023 and for the first nine months of the year, to help clients navigate volatility, build resilience and make better decisions.
The report reveals that global insured losses from natural disaster events had reached $88 billion by the end of Q3 2023 – 17% higher than the 21st century annual average, and driven by notable Q3 events such as U.S. and Italian severe convective storms (SCS), and the Maui wildfire – one of the deadliest and costliest wildfires in U.S. history. Year-to-date economic losses totalled $295 billion, compared to a 21st century annual average of $310 billion.
The aggregated death toll from 2023 natural catastrophe events had breached 75,000 during the same period, making 2023 the deadliest year since 2010.
In Q3 alone, there were at least four individual billion-dollar insured loss events for SCS in the U.S., which will likely increase to seven events due to continued loss development. For the first time, insured losses from SCS in the U.S. surpassed $50 billion and accounted for 60% of global insured losses. The peril also resonated in Europe, which endured two individual billion-dollar SCS events, including Italy recording its first billion-dollar SCS insurance loss.
Other notable natural hazard events that took place during Q3 2023 included:
- Widespread flooding in Beijing and several Chinese provinces in early August resulted in the costliest global economic loss event of Q3.
- On September 8, a magnitude-6.8 earthquake occurred in the Moroccan High Atlas Mountain range, claiming nearly 3,000 lives, injuring more than 5,600 people, and causing significant material damage across the affected area.
- The destructive flash flooding in northeastern Libya in early September damaged thousands of buildings in Derna city and ranked as the second deadliest event of the year, with more than 4,300 fatalities.
- Hurricane losses in the U.S. were lower than average in Q3, which is considered the peak of the Pacific and Atlantic hurricane seasons. Two notable tropical systems, Hilary and Idalia, still caused significant losses that, collectively, reached into billions of USD.
Michal Lorinc, head of Aon’s Catastrophe Insight, said: “Global natural catastrophes killed many people and caused significant structural and economic damage during the first nine months of 2023. Wildfire and Severe Convective Storm were once again highly prominent, and Aon’s research reveals that both are becoming increasingly costly to insurers, communities and governments. In the U.S., around 80% of SCS loss growth can be explained by exposure change – highlighting the need for insurers to understand underlying exposures in their portfolios.”
Aon’s research about the drivers of severe convective storm (SCS) insured losses is available here. For further information on SCS, and the forthcoming Jan. 1 reinsurance renewals, please see Aon’s Ultimate Guide to the Reinsurance Renewal, available at https://aon.io/3Psc8K6.
For more information about Aon’s Reinsurance Solutions, please visit: https://www.aon.com/home/solutions/reinsurance.html.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
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Aon UK Limited is authorised and regulated by the Financial Conduct Authority for the provision of regulated products and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500. FP #13110 has been approved until 19/10/2025, after which time the content should not be used or distributed.
Media Contact
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View original content:https://www.prnewswire.co.uk/news-releases/aon-record-50bn-us-severe-convective-storm-losses-drive-total-natural-catastrophe-toll-in-2023-301962391.html
Double Data Deal for Life
LONDON, Nov. 27, 2024 /PRNewswire/ — In anticipation of Black Friday, Slice Mobile is enhancing its popular plans—Mini, Middy, and Biggie—by offering double the data. Both new and existing customers can benefit from this upgrade for life, as long as they remain on the same plan.
Available Deals:
- Mini Plan: Now 20GB for £10
- Middy Plan: Now 60GB for £15
- Biggie Plan: Now 200GB for £20
- Bigger Biggie Plan: Already unlimited at £30
Unlimited Plan for £5 for 3 Months
For a limited time, Slice Mobile is offering the Bigger Biggie unlimited plan for just £5 per month for the first three months. Normally priced at £30, customers can access this discount by applying the promo code FIVER at checkout. With eSIM technology, users can connect within minutes without waiting for a physical SIM card.
Key Benefits of the Offer:
- Unlimited data, texts, and calls, eliminating mid-month worries.
- Instant eSIM setup through the app, bypassing delivery delays.
- EU roaming up to 30GB included.
- Flexible, rolling monthly plan.
- A 7-day free trial to experience the service risk-free.
- An impressive 83% discount on the first three months, saving £75 in total.
- Simple sign-up: apply promo code FIVER at checkout.
This limited-time offer is available until 11th December 2024, making it the perfect opportunity for those seeking a flexible and affordable mobile plan.
How to Get Started
New users can join Slice Mobile, or current users can switch their free trial to a paid plan via the Slice app during the promotional period.
View original content:https://www.prnewswire.co.uk/news-releases/slice-mobile-launches-special-black-friday-offers-302317430.html
Fintech PR
ADFW Unveils Full Agenda for 2024 Edition, One of the Most Impactful Financial Gatherings of the Year
ABU DHABI, UAE, Nov. 27, 2024 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) has unveiled a compelling agenda for this year’s event that will take place from 9th to 12th December 2024. ADFW 2024 – ADGM’s flagship event with ADQ as its headline partner – is one of the most anticipated financial gatherings this year, with a lineup of industry-shaping events, influential speakers, and strategic forums that will explore the theme of ‘Welcome to the Capital of Capital.’
This third edition is in keeping with ADFW’s tradition of convening some of the most renowned global financial leaders, investors, policymakers, and thought leaders to address and analyse topics such as economic, human, cultural, environmental and technological capital, that make Abu Dhabi the ‘Capital of Capital’. The agenda for 2024 includes over 60 main and side events, more than 350 thematic sessions and approximately 600+ speakers. The event expects a gathering of over 20,000 attendees from around the world, representing over USD 30 trillion in managed assets.
Commenting on ADFW’s exceptional agenda, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM and ADDED said, “Abu Dhabi Finance Week has firmly established itself as a global platform that attracts the most influential professionals in the finance industry from across the world. This year’s agenda for ADFW is a testament to Abu Dhabi’s position as a leading international financial hub, where innovation and collaboration drive progress for the Falcon Economy. ADFW continues to create unparalleled opportunities for meaningful dialogue, shaping strategies that strengthen resilience and growth in today’s evolving economic landscape, welcoming them to the ‘Capital of Capital’.”
Key forums, including the Abu Dhabi Economic Forum, Asset Abu Dhabi, RESOLVE 2024, Fintech Abu Dhabi, and the Abu Dhabi Sustainable Finance Forum (ADSFF) will return this year. New events for 2024 include the UBS Investment Forum, the China UAE Investment Summit with HSBC, the Islamic Finance Summit, the Spear’s Private Wealth Summit, and the Abu Dhabi Capital Markets Showcase.
Day 1: Opening Ceremony and Abu Dhabi Economic Forum
The official opening ceremony is on 9th December in the presence of esteemed members of Abu Dhabi’s leadership, heads of leading global investment and financial firms and other VIPs from the financial industry.
Abu Dhabi Economic Forum, a high-level leadership gathering, will feature in-depth discussions on the current state of and prospects for the Falcon Economy. It will bring together senior members of the Abu Dhabi government and prominent figures from the private sector, representing key industries. Speakers include the CEOs of Blackrock, Morgan Stanley, HSBC, Citigroup, BNY, Lunate, First Abu Dhabi Bank (FAB) and Aldar. ADEF Private Leadership Forum, Abu Dhabi Capital Markets Forum, the UBS Investor Forum and the prestigious ADFW Gala Dinner are a few of the major sub-events scheduled for the day.
Day 2: Asset Abu Dhabi and RESOLVE
The second day starts with Asset Abu Dhabi in association with ADCB, Mubadala and PGIM Global Asset Management. Bringing together asset allocators, asset managers, investment bankers, venture capitalists, private equities, family offices and other institutional investors, collectively managing over USD 30 trillion in assets, the event will see industry titans such as Ray Dalio, Robert Smith – Founder, Chairman & CEO at Vista Equity Partners, Aron Landy – CEO at Brevan Howard, and Bill Huffman – CEO at Nuveen take to the stage.
RESOLVE will also be held on this day, in collaboration with the Judicial Department. Under the theme ‘Resilience’, the event is set to host impactful conversations among key stakeholders from the global dispute resolution community and leaders from government, industry, and academia.
Day 3: Fintech Abu Dhabi and Global Financial Regulators Summit
Fintech Abu Dhabi, the Middle East’s largest fintech festival, will spotlight innovations in AI, digital security, and blockchain technology. Breakout events like Blockchain Abu Dhabi, RISK 4.0 Forum, Islamic Finance Summit and the AI Abu Dhabi Forum will showcase the transformative potential of emerging technologies. Leading voices, including Jeremy Allaire – CEO and Founder of Circle, Richard Teng – CEO of Binance, and Caroline Pham – U.S. CFTC Commissioner, will discuss the evolving landscape of financial technology.
The Global Financial Regulator Summit also returns as a closed-door gathering of international senior regulatory bodies and representatives from the MENA region, the European Union, the UK, Asia and the USA to discuss the approach to the opportunities and challenges presented by the rise of AI.
Day 4: ADSFF
Exactly one year after hosting its last edition at COP28, the Abu Dhabi Sustainable Finance Forum (ADSFF) will be held on the concluding day of ADFW to conduct discussions on sustainable finance, impact investing, and net-zero commitments. It will bring together impactful voices like H.E. Carme Artigas Brugal, Co-Chair of the AI Advisory Body at the United Nations, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Jonathan Dean of AXA IM and H.E. Majid Al Suwaidi, CEO of Alterra underscoring Abu Dhabi’s commitment to sustainability and green finance.
Curated side events include ‘Women in Finance’ and the ADFW Venture Park.
For more information on the agenda please visit What’s Happening in ADFW | Agenda – Abu Dhabi Finance Week
Register for Abu Dhabi Finance Week 2024 at Get your ticket – Abu Dhabi Finance Week
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NEW DELHI, Nov. 27, 2024 /PRNewswire/ — Comviva, a global leader in digital transformation solutions, specializing in customer experience management, data monetization, and mobile financial services, today announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. In this key role, Raja will drive the execution of strategic initiatives that are central to Comviva’s transformation and the realization of its ambitious Comviva 2.0 vision.
Raja brings over two decades of leadership experience across IT, telecommunications, fintech, and digital platforms. He has led organizations through large-scale business and operational transformations, market expansions, and the launch of innovative products and technologies in diverse global markets. Prior to joining Comviva, Raja was the CEO of a Digital Platforms company within the Axiata Group.
Welcoming Raja to the Comviva leadership team, Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “We are thrilled to have Raja on board during this transformative phase for Comviva. His deep industry knowledge and proven ability to drive growth and innovation align perfectly with our vision for Comviva 2.0. Raja’s leadership will be instrumental in shaping our strategic direction and technology roadmap, as we continue to deliver cutting-edge digital solutions for our customers worldwide.”
Raja Mansukhani shared his enthusiasm about joining the Comviva team, stating, “I am honored to be part of Comviva, a company renowned for its pioneering solutions and steadfast commitment to a customer-centric approach. As the industry undergoes rapid transformation, this is an exciting opportunity to lead strategic initiatives alongside a talented team that will unlock new opportunities and accelerate Comviva’s growth while delivering differentiation and significant value creation for our customers. As a team, we will drive innovation, foster value-driven transformation, and work towards achieving the bold objectives of Comviva 2.0.”
With Raja’s appointment, Comviva reaffirms its commitment to delivering innovative, customer-first solutions while accelerating its transformation efforts to stay ahead in the rapidly evolving digital economy.
As part of its strategic growth, Comviva is enhancing its capabilities in digital commerce, data monetization, and customer experience solutions. By focusing on partnerships with technology leaders and hyperscalers, and advancing operational excellence across MarTech, FinTech, DigiTech, and RevTech, Comviva is positioning itself as a catalyst for innovation. These initiatives align with the company’s vision to lead the digital transformation journey, empowering businesses to unlock new revenue streams and deliver exceptional customer value.
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