U.S. central bankers now project they will make just two...
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Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says
Singapore's prime minister said in October that the city-state...
Lockton unveils new global Parametric Insurance Practice
The parametric insurance market is projected to reach $39.3 billion...
Meta outage hit Facebook Instagram WhatsApp
Meta’s outage is a timely reminder of the need to engineer critical systems to maximise their reliability, including minimising central points of failure and employing engineering principles like fault isolation Melbourne: A major outage is affecting users of popular...
Hacking rooftop solar can disrupt of Europe’s Power Grid
The exponential growth of rooftop solar systems means millions more connection points to the grid, creating a massive vulnerability that hackers could exploit. The most serious impact may be cascading grid failures across the continent. That risk is a growing concern...
Aon and EBRD launch innovative war risk insurance facility for Ukraine
Under the new €110 million Ukraine Recovery and Reconstruction Guarantee Facility, the EBRD will support global reinsurance companies through a guarantee covering losses on specific war-related risks underwritten by local Ukrainian insurers DUBLIN: Aon plc, a leading...
China to expand private pension scheme nationwide from Dec 15
Those covered by public pension insurance will be allowed to open private pension accounts and invest up to 12,000 yuan ($1,652) a year in financial products, five official bodies, including the human resources ministry, said in a joint notice Beijing: China said on...
China targets Nvidia with antitrust probe, escalates US chip tensions
The statement from the State Administration for Market Regulation announcing the probe did not elaborate on how the U.S. company, known for its artificial intelligence and gaming chips, might have violated China's anti-monopoly laws BEIJING: China said on Monday it...
Lloyd’s human pandemic scenario reveals potential global economic loss of $13.6trn
From an economic perspective, the widespread impacts would be primarily driven by disruption across global industries due to local lockdowns and global travel restrictions. With the transportation sector worth over 10% of global GDP, sustained international travel...
Cat bonds see rapid influx of investors
Plenum estimates that the volume of catastrophe bonds in funds marketed under Europe’s UCITs label has risen roughly 49% since the end of 2022 to $13 billion at the end of September. That’s as overall issuance for 2024 looks set to hit a record $16.5 billion,...
Insurers’ climate losses almost match premiums from fossil fuels
On average, fossil-fuel premiums account for less than 2% of total premiums, raising questions about why insurers aren’t using their immense influence to protect the other 98% of their business from spiraling climate risks Top insurance companies suffered $10.6...
GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit
GM on Tuesday said it would get out of robotaxis “given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market” Detroit: General Motors has said it will retreat from the robotaxi business...
Nippon Life in talks to buy Resolution Life in deal worth $8.2 billion
Cross-border M&A involving Japanese companies has surged this year, driven by amended guidelines designed to encourage takeovers of Japanese firms.Japanese firms also are continuing to look abroad for growth as their domestic market shrinks Nippon Life Insurance...