Thailand bombed, no evidence of international terrorists say police
Thailand has suffered multiple bombings overnight but no group has yet claimed responsibility.
At least 4 people have been killed and 34 injured in 11 bombings across the country; it’s not clear whether the attacks are connected and police say there is no evidence that international terrorists are responsible.
"These incidents are different from the usual terrorism acts, they are more local sabotage on certain locations and provinces,” a police spokesman told reporters.
The attacks began Thursday afternoon and continued Friday.
Global life market to break $3 trillion annually within 4 years
The global life insurance market is set to see stronger growth for the rest of this decade than it did in the first half according to a new report from analysts at Finaccord.
The report shows that global life insurance premiums in 2015 reached U$2.52 trillion with growth of 4.3 per cent each year since 2011 (2.7 per cent in real terms allowing for inflation).
The world’s largest markets were the US ($540 billion), Japan ($322.3 billion) and China ($254.6 billion) although the most rapid growth was in Russia, Argentina and Vietnam; although adjusting for national inflation, Argentina is replaced by the Philippines.
Finnacord also reveal the extent of potential in emerging markets where penetration rates are still very low.
“Premiums for protection-related life insurance are less than $5 per capita in India, Indonesia, the Philippines and Vietnam, which shows that there is huge potential in these countries,” commented managing consultant David Parry.
Looking ahead, the forecast is that the global market for life insurance and insurance-backed retirement savings is likely to increase faster and will reach a value of around $3.07 trillion by 2019 ($2.87 trillion when deflated in line with forecast inflation rates.)
"Provision for an aging population is one of the strategic challenges faced by all governments, and life insurers play a central part in meeting this challenge through the range of individual and occupational savings vehicles that they offer,” concluded Parry.
Liberty Mutual ratings upgraded
The credit ratings of Liberty Mutual and its subsidiaries have been upgraded by Fitch, citing the insurer’s improved operating performance.
Liberty Mutual Group Inc.’s Long-Term Issuer Default Rating has been affirmed as BBB while the firm’s insurance subsidiaries’ Insurer Financial Strength rating has been increased to A-. The rating outlook has also been upgraded from ‘stable’ to ‘positive’.
Fitch notes that the rating outlook has been upgraded due to Liberty’s better operating performance, which has tended to lag its peers; its weaker underwriting results have moderated in recent years, Fitch says.
