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AI driving direct shifts in global insurance industry, says Swiss Re
Global insurance premiums are set to grow by 2.3% in real terms in...
Red Sea Crisis: Google and Meta delay undersea cable projects
The southern Red Sea segment of 2Africa hasn’t yet been built due...
Global property insurers see ‘alarming’ losses as risk models lag, report says
"Accurate risk prediction and pricing are becoming increasingly challenging and leading to insurability concerns," Anirban Bose, Capgemini financial services strategic business unit CEO, said in the report LONDON: Global property and casualty insurers showed...
Broker Howden launches Red Sea cargo war insurance as ship risks surge
Howden said the new product was the "first dedicated insurance coverage of its kind to protect cargo vessels within an active conflict zone, which encompasses the Bab al-Mandab Strait, the Red Sea, and the Indian Ocean" LONDON: Howden has started offering war risk...
U.S. cyber insurance maintains strong profits; premium growth slows
Chicago/New York: Favorable cyber underwriting results are partly due to prior large increases in premium rates. Insurers are also being more careful in cyber risk selection and the underwriting process. They are requiring that customers maintain proper cyber hygiene...
IMF raises India’s growth projections from 6.5% to 6.8 %
India set to remain fastest growing among major economies in 2024, IMF projects Washington: India is set to remain as fastest growing among major economies in 2024, according to International Monetary Fund's latest World Economic Outlook. IMF, in its latest outlook,...
HDI Global launches `Climate Risk Reporting’
The new service from HDI Risk Consulting GmbH, a wholly owned subsidiary of HDI Global SE, not only highlights the severity of climate risks but also provides specific data such as water depths, maximum temperatures, and duration of heatwaves, allowing companies to...
BNP Paribas buys 9% of Ageas from Fosun for EUR730 Mln
“We see the strategic rationale for a combination of banking and insurance, especially in the Belgian market where the savings market favors products in insurance wrappers,” said Johann Scholtz, an analyst with Morningstar BNP Paribas, the euro zone’s biggest bank,...
Hong Kong approves first bitcoin, ethereum spot ETFs
The step comes just three months after the U.S. launched the first U.S.-listed ETFs to track spot bitcoin. The U.S. launch set an example for other regions as it has already drawn roughly $12 billion in net inflows Hong Kong: Hong Kong's securities regulator approved...
Lloyd’s of London inadequate on ESG, Report says
French insurer Axa SA topped the property & casualty league table, while Japan’s Sony Financial Group came bottom London: The Lloyd’s of London insurance market’s environmental, social and governance standards are weak, as its members have exposure to fossil fuel...
Dearth of mechanics and higher repair costs lead to dip in UK electric car sales
A dearth of mechanics trained to handle the most advanced EV fixes is helping to drive up repair costs, according to insurers and repair companies like the AA, which provides roadside assistance across the UK. Add in expenses like long wait times for replacement...
Israel bracing for potential direct attack from Iran in days
The assault from Iranian soil has emerged as one of the main scenarios expected by the Jewish state and its allies, said the people, who asked not to be identified as they aren’t authorized to discuss the matter publicly. A bombardment with drones and precision...