Atish Suri, CEO India, Middle East & Africa, stated,"In the...
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Peak Re ends 2025 with a $2.2 billion gross premium and net profit of $189 million
During 2025, the growth of Peak Re was primarily driven by the...
Apr1 Renewals: Reinsurance buyers in APAC secure double‑digit rate reductions, says Aon
Global demand for reinsurance increased by approximately 10 percent...
Strongest typhoon since 1949 hits Shanghai and knocks out power to some homes
Typhoon Yagi hit China’s southern Hainan island earlier this month and has caused devastation in Southeast Asia. In Myanmar, Yagi caused at least 74 deaths with dozens missing. Four deaths were reported in Hainan, at least 10 have died in Thailand and 20 in the...
Tech companies commit to fighting harmful AI sexual imagery by curbing nudity from datasets
In a deal brokered by the Biden administration, tech companies Adobe, Anthropic, Cohere, Microsoft and OpenAI said they would voluntarily commit to removing nude images from AI training datasets “when appropriate and depending on the purpose of the model.” WASHINGTON:...
Buffett’s insurance leader Ajit Jain sells large part of Berkshire stake
Ajait Jain, vice chairman, Berkshire Hathaway Jain’s selling occurred five days after Berkshire’s share price peaked above $727,000, and less than two weeks after its market valuation first topped $1 trillion Ajit Jain, the longtime top insurance executive at Warren...
DBS looks for bancassurance partnership in India and Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential bancassurance agreements for those markets, the people said, asking not to be identified because the deliberations are private DBS Group Holdings Ltd. is considering forming...
Moody’s acquires Praedicat, adds Casualty and Liability modeling capabilities
“As losses from catastrophic events are increasing, insurers are constantly looking for science-based casualty data and analytics,” said Rob Fauber, President and Chief Executive Officer of Moody’s NEW YORK: Moody’s Corporation announced on Thursday that it has...
GM to face big class action over faulty transmissions
Drivers said the vehicles shudder and shake in higher gears, and hesitate and lurch in lower gears, even after repair attempts. They also accused GM of telling dealers to provide assurance that harsh shifts were “normal.” General Motors was ordered by a federal...
Cathay Pacific grounds many flights after engine component failure
Cathay Pacific has not specified which engine component failed, but the carrier said it was the "first of its type to suffer such failure on any A350 aircraft worldwide". The source said the incident involved a leak in a system designed to inject fuel to the XWB-97...
HP to continue $4 billion damages case against Mike Lynch
HP had bought Autonomy for $11.1 billion in 2011 in one of the UK’s biggest tech deals. But in late 2012 the company said it had discovered a massive accounting scandal at the British tech firm Hewlett Packard said Monday it would continue legal proceedings to seek up...
Average annual NatCat losses for global insurance industry reaches new high of $151 billion: Verisk
“While actual annual insured losses over the past five years have been high, averaging $106 billion, they should not be seen as outliers,” said Rob Newbold, president of Verisk Extreme Event Solutions BOSTON, MA: Verisk, a global data analytics and technology...
Brazilian judge suspends Musk’s X platform for refusing to name a legal representative
Elon Musk X has clashed with de Moraes over its reluctance to comply with orders to block users.Elon Musk showed his total disrespect for Brazilian sovereignty and, in particular, for the judiciary, setting himself up as a true supranational entity and immune to the...