The report, said, "Crossings through the Strait of Hormuz reached...
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Goldman Sachs, Talcott partner $1 billion Bermuda reinsurance sidecar for U.S. annuities
Under a quota share agreement, the sidecar will assume a portion of...
ADB expands credit insurance programme with 4 global insurers, to unlock $2.5 billion lending across Asia-Pacific
Four insurers are—Sompo Japan Insurance, Mitsui Sumitomo Insurance,...
Aviva and AXIS launch new Lloyd’s consortium to power UK renewable energy growth
The partnership brings together two of the London Market’s leading renewable energy insurers, combining underwriting expertise and capacity across onshore wind, solar and battery energy storage systems into a single, coordinated solution. It is also the first Lloyd’s...
Coffee trader widens weather insurance shield for Vietnam farmers
The world’s second-biggest coffee trader is seeking to expand the coverage to 2,500 farmers this year, up from 500, said Laurent Bossolasco, Vietnam-based sustainability manager at ECOM. The company piloted the parametric insurance program five years ago, under which...
London steps up bid to become global ILS Hub
London’s dominance in insurance-market infrastructure makes it an obvious destination for issuers of catastrophe bonds and other ILS products, says Caroline Wagstaff, chief executive of the London Market Group, whose members include insurers operating in the world’s...
Allianz unit to cut up to 1,800 jobs in AI-driven overhaul
The cuts, which they expect to take the forms of severance agreements, early retirements and similar options, will amount to between 1,500 to 1,800 positions across Europe, the unit’s chief executive officer Tomas Kunzmann said at an event late Tuesday in Munich....
War insurance rates for ships rise after renewed vessel attacks in Strait of Hormuz
In the past 24 hours, war insurance rates for ships inside the Gulf have already ticked higher towards 3% of the value of a vessel from 2% at the end of last week, said the sources, who declined to be named due to the sensitivity of the matter. Some war underwriters...
Trump says interim accord to end war is ‘over’ after Iranian strikes
In a flare-up of hostilities that pushed oil prices up to a two-week high, Iran said it had targeted U.S. military sites in Bahrain and Kuwait after U.S. forces struck Iranian targets in response to attacks on tankers in the Strait of Hormuz. Ankara: U.S....
AI investment to cushion global insurance slowdown amid geopolitical turmoil: Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist, said,"The latest Middle East conflict is not a one-off shock but another sign that geopolitical risk has become a structural feature of the global economy with four supply shocks in six years. As economies invest in AI...
Attack on Qatari LNG vessel in Hormuz challenges US mediation
Three separate attacks on ships would mark the highest number since the US and Iran signed an interim peace deal last month, underscoring the continued risks to ships crossing through Hormuz. Tehran has repeatedly said it won’t allow vessels to transit the waterway...
Banks’ exposure to heat-related losses faces scrutiny in EU
Heat-related damage tends to be less straightforward to measure than losses caused by floods and wildfires, the EBA said. For now, the next stress test measuring European bank resilience will focus on flood risk. The process, which extends into 2027, will be handled...
Financial services AI dangers highlighted by regulator’s review
Regulators globally have begun to focus more keenly on the impact of AI, from cyber and operational risks associated with frontier AI models such as Anthropic’s Mythos to the challenges posed by the agentic systems capable of acting with limited human intervention....