There will be sizable insured losses, and the conflict could have...
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London marine insurers widen high-risk zone in Mideast Gulf as conflict escalates
Gulf war risk premiums have risen fivefold in recent days compared...
‘Black Swan’ risks stalk container carriers in avoiding Iran war
Jeremy Nixon, the CEO of Ocean Network Express, said Monday there...
Tesla registers insurance brokerage in China
By selling insurance directly to consumers, Tesla could potentially offer lower-cost EV insurance products, which are usually more expensive than those for gasoline cars Beijing: Tesla registered an insurance broking firm in China at the end of July, based on a...
BNP Paribas in talks to buy AXA Investment Managers for 5.1 bln euros
This represents a major strategic move for AXA, Europe’s second-biggest insurer, as it aims to focus on its core businesses: life insurance, savings, property and casualty policies as well as health insurance Paris: BNP Paribas is in exclusive talks with French...
Delta CEO says airline is facing $500 million in costs from global tech outage
Speaking on CNBC, Bastian said Wednesday that the monetary amount represents lost revenue as well as “the tens of millions of dollars per day in compensation and hotels” for the five-day period. Delta Air Lines CEO Ed Bastian says the airline is facing $500 million in...
CrowdStrike sued by shareholders over global outage
In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders said they learned that CrowdStrike’s assurances about its technology were materially false and misleading when a flawed software update disrupted airlines, banks,...
Fed leaves rates unchanged, nods to possible September cut
Fed Chair Jerome Powell While Fed officials are wary of any actions that could mar their data-not-politics approach to setting monetary policy, the steady drop in inflation in recent months prompted a broad consensus that the inflation battle was near an end...
Spain fines Booking.com $448 million for abusing dominant position
Booking Holdings intends to appeal the fines as it strongly disagrees with the "outcome of CNMC's investigation", a company spokesperson said in an email, adding it considers the issue should be debated under the European Union's Digital Markets Act rules MADRID:...
Global accounting body wants more rigour in showing climate impacts
Investors have said they want to know whether assets will retain their value going forward as climate change impairs them, such as through flood damage London: The IASB launched a consultation on Wednesday on proposed guidance for companies to apply the board’s...
Meta to pay $1.4 billion to settle Texas facial recognition data lawsuit
The lawsuit, filed in 2022, was the first major case to be brought under Texas’ 2009 biometric privacy law, according to law firms tracking the litigation. A provision of the law provides damages of up to $25,000 per violation. Texas accused Facebook of capturing...
Global Nat Cat insured losses at $ 62bn in H1 24, significantly higher than 10-yr average of $ 37bn, Munich Re report
Thomas Blunck,Member of the Board of Management, Munich Re said,”Weather-related natural disasters, especially in North America, are prominent once again in the loss statistics for the first half-year. In addition, there has been flooding in regions where it is...
SCOR sees first quarterly loss since 2022
Thierry Leger,Chief Executive Officer,SCOR SE The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analysts’ estimates. The result was driven by a €329 million operational loss in the life and health unit...