The memorandum includes an immediate end to the war on all fronts,...
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Shipowners eye Hormuz return with cution
News of a long-awaited agreement between the US and Iran and the...
Scouring the Strait of Hormuz for mines could take weeks
Even the possibility of mines could deter companies. A supertanker...
FM launches new insurance policy for manufacturers
“FM Essential brings together engineering insight, data analytics and competitive risk transfer capabilities to help manufacturers navigate complexity and focus investment where it has the greatest impact.” Alex Tadmoury, executive vice president, International, at FM...
Iran sets Hormuz transit rules; Shipowners stay cautious
Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe, stable passage” through the waterway will be possible with “new protocols in place.” That came soon after a report that the US had proposed a peace deal, which Tehran is now considering. Iran has laid...
MS Amlin launches industry-first property treaty consortium, to boost capacity for global data centres
The Property Treaty Per Risk (PPR) Consortium,bringing together four Lloyd’s syndicates, expands MS Amlin’s maximum line size from $50m to $67.5m, providing a 35% uplift in capacity for placements while maintaining a single coordinated underwriting and claims...
US and Iran closing in on memo to end war,sources say
U.S. President Donald Trump Reports of the possible agreement caused global oil prices to plunge, with benchmark Brent crude futures falling around 11% to around $98 a barrel . Global share prices also leapt and bond yields fell on optimism of an end to a war that...
Oil trader’s lawsuit exposes fragility in global freight pricing system”
The case is the latest example of how oil traders and shippers are struggling to adjust to the disruption wrought by the near-closure of the Strait of Hormuz, with executives and lawyers already predicting a slew of legal disputes. A legal claim from one of the...
Fragile truce tested as U.S. and Iran exchange fire in Strait of Hormuz”
The U.S. military said on Monday it destroyed six Iranian small boats, as well as cruise missiles and drones, after President Donald Trump sent the navy to escort stranded tankers through the strait in a campaign he called “Project Freedom.” WASHINGTON/CAIRO:A fragile...
QatarEnergy extends force majeure on Edison LNG supply to early July
Based on the information received so far, Edison now expects a reduction in future deliveries from QatarEnergy of around one third of the annual contracted volumes, before taking into account any potential mitigation actions, the utility said. MILAN: QatarEnergy has...
Data standardisation key prerequisite for insures to effectively leverage AI:Accord study
While AI is accelerating the industry's ambitions, digital maturity is what determines whether those ambitions translate into durable advantage Study shows a widening gap between digital leaders and laggards because of how effectively they convert digital...
Berkshire taps Charlie Shamieh to succeed Ajit Jain as insurance chief, WSJ reports
Charlie Shamieh,chairman, Gen Re Berkshire owns reinsurer Gen Re, where Shamieh has served as chairman since 2018. Before that, he held leadership positions at AIG Berkshire Hathaway has selected Gen Re Chairman Charlie Shamieh as successor to longtime insurance...
Geopolitical and legal volatility accelerates for insurance buyers:Aon says
“Conflicts, supply‑chain disruption and sanctions exposure are testing policy language, capacity and claims assumptions simultaneously. Organizations that stress‑test their programs now will have far more options than those forced to react later, Joe Peiser, CEO of...