The supply could rise in April as some Middle East Gulf producers...
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Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance...
Shipping in Straits of Hormuz halted due to safety concerns, not insurance,says IUA chief executive
“Most prominent is shipping in the Straits of Hormuz where trade...
French reinsurer CCR Re changing name to Arundo Re from next Jan 16
CCR remains a minority partner with a 25 per cent stake in the reinsurer. The deal allowed CCR to help make CCR Re fully autonomous and to implement an industrial and social project. CCR has a put option and would be able to sell its residual interest in 2026 Paris:...
New Global Climate ‘Loss and Damage’ Fund names first director
Ibrahima Cheikh Diong,director-designate,The Fund for Responding to Loss and Damage This is a key step towards responding to loss and damage by bringing finance to millions of people in developing countries on the frontlines of climate change WASHINGTON: The board of...
Quad Cancer Moonshot: PM Modi announces $7.5 million support to fight cervical cancer
Narendra Modi, Prime Minister The Cancer Moonshot is a White House initiative to bring renewed leadership to the fight against cancer, facilitate new collaborations, and drive progress across the cancer journey utilizing all facets of the oncology community - federal...
Charles Roxburgh KCB to succeed Carnegie-Brown as chairman of Lloyd’s from May,2025
Sir Charles Roxburgh KCB , chairman-designate, Lloyd's of London ``I look forward to working with the Council, with John and the strong executive team, and with the wider Lloyd’s market to guide Lloyd’s to even greater success in the future” Sir Charles London:...
Central Europe flooding could cause billions in insurance losses, analysts say
According to re/insurance broker Gallagher Re's estimate, insured losses are likely to range between EUR 2.0 – 3.0 billion (USD 2.2 – 3.3 billion) The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions,...
Exploding pagers in Lebanon spur theories on sabotage method
Deepa Kundur, professor of electrical and computer engineering at the University of Toronto, said she suspects it was a “supply chain deployment. In such an attack, the perpetrator would infiltrate the pager’s upstream supply chain to manufacture a critical component...
U.S. Fed slashed interest rates by half a point in its first cut since 2020, more expected
Fed Chair Jerome Powell Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, another full percentage point in 2025, and by a final half of a percentage point in 2026 to end in a 2.75%-3.00% range Washington:...
US files $100 million lawsuit against owner and operator of ship that destroyed Baltimore’s Key Bridge
“The Justice Department is committed to ensuring accountability for those responsible for the destruction of the Francis Scott Key Bridge, which resulted in the tragic deaths of six people and disrupted our country’s transportation and defense infrastructure,” said...
France uses tough, untested cybercrime law to target Telegram’s Durov
Pavel Durov, CEO, Telegram The so-called LOPMI law, enacted in January 2023, has placed France at the forefront of a group of nations taking a sterner stance on crime-ridden websites. But the law is so recent that prosecutors have yet to secure a conviction PARIS:...
Howden forays into Japanese captive consulting and management markets with acquisition of Foresight
Takuya Aibe as CEO of Howden Japan’s retail business Foresight is headquartered in Tokyo with 17 staff across six offices and a management team that have previously held senior roles at leading Japanese insurance companies; it manages captives for 13 large Japanese...