The loss of two CEOs and a chairman in a year is of historic...
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Britain’s JLR hit by cyber incident that disrupts production, sales
The automaker is the latest British company to be hit by a cyber...
$152 Billion and Rising: Insurance industry facing growing average annual losses from natural catastrophes
The 2025 Global Modeled Catastrophe Losses Report notes a $32...
Facebook must face $3.7 bln UK mass action over market dominance, tribunal rules
Legal academic Liza Lovdahl Gormsen, who is bringing the case on behalf of around 45 million Facebook users in the UK, says users were not properly compensated for the value of personal data they had to provide London: Facebook must face a collective lawsuit valued at...
Swiss Re 2023 net profit surges almost six times, in line with expectations
"We achieved all our financial targets in a year that was characterised by geopolitical turbulence and continued economic uncertainty. Improved price adequacy in our property and casualty businesses following strong renewals and our underwriting discipline helped us...
Asia-Pacific off track on path to SDGs, UN data shows
Among the 17 SDGs, Goal 13 on climate action required most attention, as progress on all of its targets are off track and some are in reverse. This underscored the need to integrate climate action into national policies, strengthen resilience and improve adaptive...
World bank and Fathom tie-up for free flood data access for 16 climate vulnerable countries
These countries are among the most vulnerable to climate change, such as Pakistan, Somalia, and Yemen, which often struggle with limited data resources London: UK based Global flood risk intelligence leader Fathom, which was recently acquired by Swiss Re, has tied up...
Japan unexpectedly slips into recession, Germany now world’s third-biggest economy
"What's particularly striking is the sluggishness in consumption and capital expenditure that are key pillars of domestic demand," said Yoshiki Shinke, senior executive economist at Dai-ichi Life Research Institute Tokyo: Japan unexpectedly slips into recession,...
Wipro invests $66 million in US insurtech Aggne
EAST BRUNSWICK, N.J/TAMPA, Fla/ BENGALURU: “The Aggne team has a deep and well-established experience in the P&C insurance space. Their unique IP and modular approach to implementations significantly accelerate time-to-market, driving faster business outcomes and...
Canada’s Fairfax denies Muddy Waters’ short report in expanded rebuttal
Fairfax said Muddy Waters neither called it nor wrote to it, and instead released the report during its quiet period with its “one-sided, ill-informed allegations and insinuations in a transparent attempt to profit by short selling our stock.” Fairfax Financial on...
ACORD announces new global advisory council to drive industry-wide collaboration and digitalisation
“With the accelerating pace of digital transformation in our industry, the formation of the ACORD Global Advisory Council is a timely and significant step towards increasing collaboration and alignment within leading insurance markets around the world. I look forward...
EU to probe TikTok faces over risks to minors, may pay hefty fines
The bloc singled out 19 online platforms and search engines last year as large entities worthy of scrutiny and has been quizzing them for information. That includes X, Meta Platforms Inc., Alphabet Inc. and others with more than 45 million monthly active users in...
Marine insurers continue to support trade in the Red Sea & Black Sea
The impact on Suez Canal transits and global supply chains are significant but this has not affected the ability of the marine insurance market to provide adequate cover – both for Red Sea/Suez Canal transits or for the longer route around the Cape of Good Hope,...