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Catastrophe bond investors brace for Jamaica payout
Depending on exactly where Melissa hits Jamaica, total losses may...
Cyclone Montha: Two dead in Andhra, crops suffer damage, CM Naidu says state minimised loss
N Chandrababu Naidu,Chief Minister , Andhra Pradesh Citing...
Fast-growing Asian economies China, India,Thailand and Philippines most vulnerable to climate change: Swiss Re Report
Risk reduction through adaptation fosters insurability. The insurance industry is ready to play an important role by catalysing investments in adaptation, directly as a long-term investor and indirectly through underwriting climate-supportive projects and sharing risk...
Supply chain strains set to weigh on aviation industry bounce-back
"The previous supply concept was probably 'just in time'; I order when I need it. This is over. We have to carry more resiliency than ever in terms of our operations, including a higher level of standby aircraft and crew.That's one of the costs of uncertainty." said...
Biden issues executive order to better shield Americans’ sensitive data from foreign foes
US President Joe Biden The officials said activities like computer hacking are already prohibited in the US, but that buying potentially sensitive data through brokers is legal. That can represent a key gap in the nation's national security protections when data is...
Berkshire posts record profit on insurance, investments
Berkshire Hathaway has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. Warren Buffett’s Berkshire Hathaway on Saturday posted its second straight record annual operating...
New Zealand set to scrap world-first tobacco ban
Set to take effect from July, the toughest anti-tobacco rules in the world would have banned sales to those born after Jan. 1, 2009, cut nicotine content in smoked tobacco products and reduced the number of tobacco retailers by more than 90% New Zealand will repeal on...
Munich Re sees positive environment in upcoming April and July renewal rounds
``2023 was another successful year for Munich Re. With the exception of systemic risks – such as cyber and pandemic – our appetite for covering existential risks for people and enterprises is far from exhausted, '' said Joachim Wenning, Chair of the Board of...
Govt involvement necessary to manage rising global CAT and Cyber risks: Munich Re
The private sector cannot provide cover for the greatest systemic cyber risks, such as the failure of critical infrastructure or cyber war. But a potential solution to this complex problem is a governmental backstop – a precautionary measure of last resort, Munich Re...
Houthi attacks has led to an “environmental disaster” in the Red Sea, US says
The Houthi assaults have continued despite waves of airstrikes by the US and the UK The missile attack by Houthi militants on a ship carrying a cargo of fertilizer has led to an “environmental disaster” in the Red Sea, US Central Command said Friday evening. Hours...
US regulator SEC drops some emissions disclosure requirements from draft climate rules
Scope 3 emissions, proposed to be withdrawn, account for greenhouse gases, such as carbon dioxide, released in the atmosphere from a company’s supply chain and the consumption of its products by customers. For most businesses, Scope 3 emissions represent more than 70%...
Allianz takes a larger wealth bet with stake in $68 billion manager AlTi
Allianz, one of the world’s largest financial services companies with €2.16 trillion ($2.33 trillion) in assets under management, joins a growing number of global firms building their focus on the wealth sector Allianz SE is making a strategic investment in money...