Articles by Swati Pandey

Australian Pension Fund Agrees to Settle Landmark Climate Risk Litigation

SYDNEY — One of Australia’s largest pension funds on Monday agreed to settle a landmark climate risk litigation filed by a 25-year-old member who alleged it was failing to protect his retirement savings against climate change. REST acknowledged in a …

After Australia’s 2019 Floods, Insurers Begin to Bail, Banks Keep Lending

Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …

Australia Regulator Seeks to Understand Financial Risks of Climate Change

Australia’s prudential regulator said on Monday it was looking to better understand the financial risks of climate change and would begin undertaking deeper assessments of the industry’s vulnerabilities to improve resilience. The Australian Prudential Regulation Authority (APRA) will develop industry …

Australians Evacuate Their Homes as Soaring Temperatures, Winds Fan Bushfires

Australia urged nearly a quarter of a million people to evacuate their homes on Friday and prepared military backup as authorities said the next few hours could be “very, very challenging” even as rain poured down in some parts. Defense …

Australia to Shake Up Financial Sector After Inquiry Shows Widespread Wrongdoing

Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice. The government-appointed inquiry known as a Royal Commission also recommended …

Newest Big Thing in Drones Is Technology to Block Them

A boom in consumer drone sales has spawned a counter-industry of start-ups aiming to stop drones flying where they shouldn’t by disabling them or knocking them out of the sky. Dozens of start-up firms are developing techniques – from deploying …

Why Australia’s IAG Decided to Halt China Expansion Plans

When Insurance Australia Group, the country’s largest general insurer, announced ambitious plans in June to ramp up its business in Mainland China, several institutional investors including Jason Kim were seriously concerned. Kim, a portfolio manager at Nikko Asset Management which …

‘All at Sea:’ Australia’s Search for MH370 Wreckage Under Scrutiny

Nearly a year after embarking on a multi-million dollar quest to solve one of aviation’s greatest unsolved mysteries, authorities and search teams are being criticized over their approach to finding Flight MH370 in the remote southern Indian Ocean. The Australian-led …

Debt Ridden India Makes More Claims on Its Insurance Giant

An Indian government company with more than a quarter of a billion customers has once again dug into its pockets to prop up its financially-strapped owner. Policyholders in the Life Insurance Corporation of India, a behemoth that’s little known outside …