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War risks insurers win bid to appeal UK ruling on jets lost in Russia
London’s High Court ruled in June that AerCap can recover just over...
Apr1 Renewals: property-catastrophe rates fall, acute stress across multiple specialty lines due to ME geopolitical turmoil, says Howden Re
Looking ahead, mid-year 2026 renewals are expected to face more...
Wildfires rage in Los Angeles, forcing tens of thousands to flee
Numerous buildings were destroyed and nearly 3,000 acres (1,200 hectares) burned in the Pacific Palisades area between the beach towns of Santa Monica and Malibu, officials said. The area is home to many film and music stars. LOS ANGELES: More than 30,000 people...
Powerful Tibet earthquake near Nepal kills at least 96
The quake hit at 9:05 a.m. (0105 GMT), with its epicentre located in Tingri, a rural Chinese county known as the northern gateway to the Everest region, at a depth of 10 km (6.2 miles), according to the China Earthquake Networks Centre. The U.S. Geological Service put...
Strong reinsurer appetite drives excess property catastrophe capacity at January 1:Guy Carpenter
Dean Klisura, President & CEO of Guy Carpenter. “Renewal outcomes at year-end reflect reinsurers’ positive property experience over the last two years and casualty portfolios that are well-positioned for future profitability,” said GC. London: Global reinsurance...
Biden signs Social Security measure to expand benefits for some retirees
President Joe Biden "The bill I'm signing today is about a simple proposition: Americans who have worked hard all their lives … should be able to retire with economic security and dignity," Biden said. "That's the entire purpose of the Social Security system crafted...
A top climate group for banks and asset managers is making changes
While GFANZ has grown in prominence — it now has more than 700 members — it also has become a target of US Republicans who accuse such alliances of functioning as anti fossil-fuel cartels. Such accusations have coincided with an increase in investigations and lawsuits...
Biden to permanently ban new offshore oil and gas exploration in some US coastal waters
US President Joe Biden The move is certain to complicate President-elect Donald Trump’s ambitions to drive more domestic energy production. Unlike other executive actions that can be easily undone, Biden’s planned declaration is rooted in a 72-year-old law that gives...
US surgeon general urges cancer warnings for alcoholic drinks
U.S. Surgeon General Vivek Murthy said alcohol consumption increases the risk of at least seven types of cancer, including breast, colon and liver cancer, but most U.S. consumers remain unaware of this. The Surgeon General's advisory said alcohol is responsible for...
Morgan Stanley to leave sector climate coalition
"These exits reveal the inadequacy of voluntary commitments and underscore the urgent need for state-level leadership and regulation," Vanessa Fajans-Turner, executive director of Environmental Advocates NY, said in a statement LONDON: Investment bank Morgan Stanley...
2 dead and 19 injured in Southern California plane crash
The people who died were believed to have been on the plane, while those injured were inside the building. The deceased victims will be identified after officials have contacted the next of kin, the Fullerton Police Department said in a statement FULLERTON, Calif: Two...
Jan1 renewals: Property catastrophe & specialty see reduction in risk adjusted pricing across board
Globally, reinsurers are on track to produce a combined ratio near or below 90% and a low-teens ROE for 2024. Not only have reinsurers' operating and performance ratios improved but so have aggregate balance sheet metrics, providing some context around how quickly and...