AXA Hong Kong joins Green Monday ESG Coalition

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AXA has joined the Green Monday ESG Coalition, a group that seeks to promote environmental, social, and corporate governance (ESG) goals among Hong Kong’s business community.

The company, which is the first insurer to join the coalition, is a founding mission partner, providing its full support to combating climate change for a sustainable and resilient future. This will include through a series of innovative green actions and co-creating social education and community projects with Green Monday.

The coalition is led by Green Monday Group, a green social enterprise headquartered in Hong Kong that aims to unify businesses with concrete carbon

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Lloyd’s assigns new rating agency and reveals rating

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World-leading insurance and reinsurance marketplace, Lloyd’s, has today announced its appointment of Kroll Bond Rating Agency (KBRA) to provide additional independent opinion on Lloyd’s financial strength and to demonstrate the market’s financial position to investors and customers.

 

KBRA has assigned an AA- insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. In a Press release, Lloyd’s highlighted that the new rating considers Lloyd’s capital growth at a compound annual growth rate of 6.5% since the end of 2014. This is despite elevated catastrophe and attritional losses since 2016. The market maintains strong capital and solvency positions,

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80% of Financial Institutions believe AI is the key competitive driver

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According to research senior financial services executives overwhelmingly agree that implementing Artificial Intelligence (AI) will be the key competitive driver of success over the next few years.

In fact, 83% agree that AI is creating new ways to differentiate offerings and win customers, driven by access to unique data sets; however, obstacles remain and adoption lags.

Respondents to the NTT Data survey report technology implementation (55%), creating new business startup culture in an established business (51%), and organisational skill changes (43%) are all top AI challenges to implementing personalised proactive services.

Despite these very real obstacles, financial institutions (FIs) must

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EY now an ICMIF supporting member

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Multinational professional services firm EY has become a supporting member of the International Cooperative and Mutual Insurance Federation (ICMIF), a global representative body for the cooperative and mutual insurance industry.

As a supporting member, EY joins seven other companies from around the world. ICMIF supporting members are suppliers considered important to the insurance industry, and work in partnership with ICMIF and its members to held grow the cooperative and mutual insurance sector.

The partnership will allow ICMIF members to leverage EY knowledge, expertise and support in areas including digital transformation, tax services, transactions and IFRS implementation.

“We’re excited to combine

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