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Tata Steel’s Netherlands units sued by Dutch NGO seeking $1.6 bn for alleged health damage
The case adds to mounting scrutiny on Tata Steel’s European...
Heatwaves, wildfires, droughts and storms cost world more than USD 120 billion in 2025: Report
"These disasters are not natural — they are the predictable result...
World Bank eyes first ‘drought’ bond in next 12-18 months
“We would love to do something in the drought space, that is something we are working on,” said George Richardson, director of the capital markets and investment department at the World Bank Treasury told Reuters, adding this would be most likely focussed on Africa...
ASPEN launches data labs to drive business’ data and artificial intelligence agenda
Christian Dunleavy, Group Chief Underwriting Officer, said: "Technology, and increasingly the potential of AI, is vital to our strategy. Aspen Data Labs will be instrumental in enhancing our decision support systems to bring solutions that improve our operations and...
The fund managers Cat modeling keep winning bets
Karen Clark, co-founder and chief executive officer of the Boston-based firm that carries her name, says the cumulative effect of past climate change is an 11% jump in insured losses related to hurricanes. Her firm’s projections to 2050 suggest that climate change...
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...