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Aon launches AI-enabled claims copilot
“It empowers our professionals to turn insight into action, helping...
Hurricane Melissa triggers 100% payout of $150 million World Bank Catastrophe Bond for Jamaica
Catastrophe insurance backed by catastrophe bonds are part of the...
Allianz eyes 51% of Singapore’s Income Insurance with $1.6 billion offer
Allianz said the deal will turn it into the fourth-largest composite insurer in Asia, adding a household name in Singapore that distributes a full range of life and non-life products. Chief Executive Officer Oliver Baete, who is expected to outline new financial...
Robust economies set to drive global insurance growth and profitability, says Swiss Re
Jérôme Haegeli, Group Chief Economist, Swiss Re Jérôme Haegeli, Swiss Re's Group Chief Economist says, "The insurance industry has reached a new equilibrium after the challenges of recent years. The global economy has surprised on the upside, which should drive more...
Be wary of scams as Amazon Prime Day kicks off, experts warn
In updated guidance published last week, the Better Business Bureau reminded consumers to watch out for lookalike websites, too-good-to-be-true social media ads, and unsolicited emails or calls during sales events this month.Consumers might need to be more vigilant...
Google in talks to buy Wiz in $23 billion cyber deal
The acquisition of Wiz could help Google catch up to Microsoft Corp. and Amazon.com Inc. in an increasingly competitive cloud market. Google parent Alphabet Inc. is in talks to acquire cybersecurity startup Wiz Inc., according to a person familiar with the matter. A...
Ships fleeing the Red Sea now face perilous African weather
Storms near the African coastline are playing havoc with the key route that vessels have been using to avoid attack by Yemen’s Houthi militants in the Red Sea. Container ships in particular have diverted thousands of miles around the continent, instead of running the...
Insurers hike rates as extreme storms like Beryl proliferate
Global insurance giant Swiss RE expects the broader sector’s return on equity, a key measure of profit, to grow 9.5% in 2024, well above last year’s 3.4% growth Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas...
Rush to prevent oil spill from grounded ship off South African coast
The Panama-flagged "Ultra Galaxy" ran aground close to Doring Bay, some 300 km north of Cape Town, late on Tuesday after it started listing badly. The ship was abandoned by its 18-strong Filipino crew while still at sea and concerns have since risen over the potential...
CMA CGM says its ship lost 44 containers in tough weather
“No injury to the crew has been reported, no pollution, no strong damage to the vessel which remains fully seaworthy,” the company said, adding that 33 additional containers had been damaged French shipping and logistics company CMA CGM said on Thursday that its ship...
Global reserve managers upbeat on growth but worry about politics
But 87% of the reserve managers surveyed flagged further escalation in geopolitical conflicts as the biggest threat to this benign outcome, and 41% said they are diversifying their investments more across regions and currencies fearing an escalation of tensions...
US insurers may take a hit of about $2.7 billion from damage caused by Hurricane Beryl
Triggered a record $44 million payout to the nation of Grenada from a regional catastrophe insurance fund Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co (KCC)...