Manulife survey reveals Hong Kongers’ top financial goal

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“When it comes to retirement, people know what they want, but worry they might not get there,” said Wilton Kee (pictured above), chief product officer and head of health, Manulife Hong Kong. “On one hand, Hong Kong people look forward to their retirement – many have a clear vision of what the ideal retirement life entails. On the other, people also worry about worsening health conditions and having insufficient savings. Three in five are unsure whether they can retire at an age they desire.”

Respondents who have already made progress in their retirement planning tend to be more confident in

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Gallagher strikes multi-billion dollar deal to buy WTW assets

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The deal is expected to close during the fourth quarter of 2021 and is subject to customary regulatory approvals.

Commenting on the deal, J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher highlighted that broadening its reinsurance brokerage offerings has been a strategic objective for the group and that the deal will “significantly enhance” its global value proposition

“We were very impressed with the Willis Towers Watson reinsurance professionals we met during our initial due diligence and strongly believe a combination will significantly enhance our offerings to clients and prospects,” he said. “I look forward to welcoming the 2,200

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Argo confirms management structure shake-up

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Meanwhile, those promoted are Susan Comparato, Andy Borst, Gary Grose, and Marsh Duncan.

Comparato, who most recently managed a portfolio of Argo’s US business lines, becomes chief administrative officer and will be in charge of overseeing the global business services and innovation teams. Her new remit also spans group communications, group enterprise security, and the transformation team in the US.

Appointed as interim president for international operations, Borst will oversee the businesses in Bermuda, Brazil, and Dubai, as well as Syndicate 1200. His credentials include time spent as chief administrative officer for international operations and of the group.

Grose, as

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Extreme weather events buffets catastrophe insurance losses

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Man-made disasters accounted for an estimated US$2 billion in insured losses in the first half. That’s lower than average, likely reflecting COVID-19 restrictions, Swiss Re Institute said.

“The effects of climate change are manifesting in warmer temperatures, rising sea levels, more erratic rainfall patterns and greater weather extremes,” said Martin Bertogg, head of cat perils at Swiss Re. “Taken together with rapid urban development and accumulation of wealth in disaster-prone areas, secondary perils, such as winter storms, hail, floods or wildfires, lead to even higher catastrophe losses.

“The experience so far in 2021 underscores the growing risks of these perils,

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