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Hormuz traffic plunges sharply, daily vessel crossings drop to 10 from 135 in Feb: S&P Global Energy
The slowdown has led to severe congestion, with around 850 oil...
Swiss reinsurer Echo Re opens branch in GIFT City
Fabian Pütz (PhD) Pütz, chief executive officer, commented, “The...
Google ad tech class action gets go ahead from London court
Should the claimants prove that the Alphabet Inc. unit preferred its online advertising services over competitors between January 2014 and November 2022 they estimate damages as high as £13.6 billion ($17.4 billion) The UK’s Competition Appeal Tribunal unanimously...
Gobinath Athappan to head Fairfax Asia
Gobinath Athappan, chairman and CEO , Fairfax Asia He will be appointed chairman of Singapore Re after regulatory approval Toronto: Fairfax Financial Holdings Limited (Fairfax) has announced that Gobinath Athappan has been appointed chairman and chief executive...
London hospital services impacted by ransomware incident
"This is having a significant impact on the delivery of services at Guy's and St Thomas', King's College Hospital NHS Foundation Trusts and primary care services in south east London," the statement added London: The health service said it was working "urgently" with...
Howden, Allianz Trade and Saudi EXIM bank sign agreement for fostering global trade
As part of the initial agreement, brokered by Howden, Allianz Trade and Saudi EXIM Bank have agreed to work in partnership to provide dedicated non-payment insurance for international exporters and banks to facilitate the trade of non-oil products to the Kingdom...
Japan auto safety scandal widens, Toyota halts some shipments
The ministry ordered Toyota, Mazda and Yamaha to suspend shipments of some vehicles. It said it will conduct an on-site inspection at Toyota’s central Aichi prefecture headquarters on Tuesday Tokyo: A safety test scandal at Japanese automakers widened on Monday, with...
WHO members approve steps to bolster health regulations for pandemics
Yuanqiong Hu, a senior legal and policy advisor at Doctors without Borders, said that the changes adopted Saturday include "important provisions addressing equity in access to health products during global health emergencies". Geneva: The World Health organisation...
MS Amlin forecasts “substantially above average” hurricane activity
“The insurance industry can help people and businesses to absorb climate blows, but only if pricing adequately reflects the escalating risks of stronger, more destructive hurricanes in a warming world. Investing in sophisticated catastrophe modelling and research will...
EU may sanction Russia’s Ingosstrakh Insurance
The G-7 price cap on Russian crude oil and petroleum products bans western shipowners, insurers and intermediaries from providing vessels and services for cargoes priced above the thresholds. The restrictions prompted a pivot away from western insurance and a need for...
China poised to impose a record fine on PwC
PwC faces a fine of at least 1 billion yuan ($138 million), the people said. That would exceed the previous record fine for an accounting firm, the 212 million yuan handed out to Deloitte Touche Tohmatsu Ltd. in 2023 China is poised to impose a record fine on...
1st June Renewals: Moderated risk-adjusted property-catastrophe reinsurance pricing, says Howden Re
Risk-adjusted property-catastrophe rate-on-line 5% lower on averageDedicated sector capital now exceeds 2021 levelsA notable increase in insurance-linked securities (ILS) market activity with over USD 3 billion of issuance covering Florida perils year-to-date LONDON:...