The deal involves France’s biggest bank selling its 25% stake in AG...
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EMEA insurance sector in 2026 to have stable operational and business conditions, says Fitch Ratings
Some pricing and competitive pressures will arise, alongside weak...
Swiss Re open to inorganic opportunities,says CEO Berger
“We are open to inorganic opportunities,” Swiss Re CEO Andreas...
Foreign firms’ losses from exiting Russia top $107 billion
Moscow demands discounts of at least 50% on foreign asset sales and has steadily tightened exit requirements, often accepting nominal fees as little as one rouble.So far this year, sales of assets owned by Shell, HSBC, Polymetal International and Yandex have been...
Lloyd’s of London swings to $13.5 billion profit in 2023
“We’ll continue working with our market to deliver consistent profitable performance through disciplined underwriting,” Chief Executive John Neal said in a statement London: Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023,...
Baltimore bridge collapse could result in ‘one of the largest marine losses in history’: Lloyds of London CEO
``If you look at it from a marine point of view, this could be one of the largest marine losses in history. Insurance companies will be liable to cover the multi-billion-dollar losses. The vessel is insured, the bridge is insured, the port authority's insured, so this...
China’s latest EV is a ‘connected’ car from smart appliance maker Xiaomi
The combined share of EVs and hybrids in China's auto sales is likely to reach 42 per cent to 45 per cent this year, up from 36 per cent in 2023, according to Fitch Ratings. But the agency said in a December report that the competition could put pressure on...
India’s Disaster Management Authority head appointed UN Asst Secretary-General
Kamal Kishore, UN Assistant Secretary-General with the disaster risk reduction portfolio Kishore brings to the position nearly three decades of experience in disaster risk reduction, climate action and sustainable development at the global, regional, national and...
Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer
Claims could total up to $4 bln, record for shipping disasterInsurance lines affected include property, marine, liabilityInternational Group of P&I marine insurers have reinsurance cover of $3.1 blnAXA lead reinsurer on first layer of IG reinsurance...
Titanic Law helps ship owner limit bridge collapse liability
A key to determining any insurance claims will be proving whether the accident was caused by negligence, and if so by whom, or mechanical failure, according to Bloomberg Intelligence. The ship is insured by the Britannia Protection and Indemnity Club, which is a...
SEC ramps up hack probe with focus on tech, telecom companies
The probe — aimed partly at determining what the companies may have known but didn’t disclose — follows a landmark lawsuit the SEC filed in October against SolarWinds Corp., claiming it failed to maintain adequate controls and defrauded investors by downplaying...
FBI says Alaska Airlines passengers are possible ‘crime victims’
“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time. A victim of a federal crime is entitled to receive certain services,” the letter stated. The Federal Bureau of Investigation(FBI) has...
Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit
“The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners.For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance...