"The strait (of Hormuz) is closed. If anyone tries to pass, the...
Category:
International News
Latest
Zurich Insurance to acquire UK’s Beazley for $11 billion
"Together with Beazley, we will create the world’s leading...
Middle East Crisis: More oil tankers idle in Persian Gulf as attacks disrupt Hormuz
More than half of the world’s largest maritime insurance clubs have...
Globally, Natcats result in $133bn economic and $ 51bn of insured losses: Munich Re
The costliest typhoon in Asia – and the third-costliest cyclone of the season worldwide – was Typhoon Yagi. It struck the Philippines, the Chinese island of Hainan, and the southern tip of the Chinese province of Guangdong as an extreme storm before making landfall in...
Investigation finds Rio Tinto legacy Bougainville mine poses life-threatening risks
The findings, released in a report on Friday, included "imminent, life-threatening risks posed by the collapsing mine pit, levees and infrastructure," as well as ongoing contamination of the Jaba-Kawerong river Rio Tinto recognises the gravity of the impacts and...
Economic threats continue to overshadow climate and cyber risks
Extreme weather events featured in the G20’s top five risks, as the fifth biggest risk. This follows a year in which many G20 countries – including Brazil, Germany, Indonesia and the U.S. – experienced severe flooding, above-average rainfall, wildfires, extreme heat...
US Healthcare industry rethinks risk after murder of UnitedHealth exec
Before the shooting, most risk assessment efforts were conducted for medical practices and other healthcare providers, which have faced increasing hostility from the public since the COVID-19 pandemic NEW YORK: Health insurance companies are reassessing the risks for...
Investors with $9.5 trillion seek mandatory Scope 3 emissions disclosures
The group, which includes Allianz SE and the California Public Employees’ Retirement System, said while it’s critical for signatories to consider Scope 3 pollution, integrating those emissions into carbon accounting and target setting “is highly challenging” due to a...
Amundi SA eyes acquiring control of Allianz Global Investors
Rising costs and pressure on fees are prompting asset managers to seek further scale. Many of the biggest players in Europe are still owned by banks or insurers, and often lack the scale to compete with US fund houses and alternative investment firms that have enjoyed...
Ammunition used in CEO’s killing had ‘deny,’ ‘defend’, ‘depose’ written on it
The message left on the ammunition echoes the phrase “delay, deny, defend,” which is commonly used by attorneys and insurance industry critics to describe tactics used to avoid paying claims. It refers to insurers delaying payment, denying a claim and then defending...
Fitch revises global reinsurance sector outlook to ‘Neutral’
``Given the sector’s abundance of capital, we expect a moderately softer and more competitive market in 2025, barring significantly above-average loss activity in 2H24. However, underlying margins are likely to remain close to their 2023-2024 peak as reinsurers...
Global insured NatCat losses over $135 billion in 2024 , says Swiss Re
Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "Economic development continues to be the main driver of the rise in insured losses resulting from floods, but also other perils, seen over many decades. However, with natural catastrophe risks rising and...
Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones — have no protection at all. The new law will require companies to buy coverage and insurers to write policies or face fines. The plan is backed by a €5 billion ($5.3 billion) reinsurance fund, set up by a...