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Shipping in Straits of Hormuz halted due to safety concerns, not insurance,says IUA chief executive
“Most prominent is shipping in the Straits of Hormuz where trade...
Citi, StanChart evacuate Dubai offices, HSBC closes Qatar branches as fears grow
The moves came after a spokesperson for Tehran's Khatam al-Anbiya...
Global life expectancy projected to improve by 5 years in men, over 4 in women by 2050: Lancet Study
The researchers from the Global Burden of Disease (GBD) 2021 Forecasting Collaborators said that the ongoing shift in disease burden to non-communicable diseases such as cardiovascular ones, cancer and diabetes, and exposure to associated risk factors including...
World’s super-rich club now has 15 members with fortunes over $100 billion
The combined net worth for these people is up 13 per cent this year to $2.2 trillion, according to the Bloomberg Billionaires Index, beating the pace of inflation and the broader stock market. Between them, they hold nearly a quarter of the wealth of the world’s 500...
Norway sovereign wealth fund excludes Adani Ports from over ethical concerns
Norges said it decided to exclude Adani Ports due to "unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict" Norway's central bank said on Wednesday that its executive board has decided to exclude...
Swiss Re withdraws from iptiQ business, appoints Ivan Gonzalez as CEO Corporate Solutions
Moses Ojeisekhoba, CEO Global Clients and Solutions, to pursue opportunities outside Swiss Re iptiQ is a digital insurance company and division of Swiss Re. The business offers consumer products for life, health, home and car insurance on a white-labelling platform...
ISRO: Earth Impacted by Intense Solar Storm
''This is the biggest geomagnetic storm since 2003 in terms of its strength, as the flaring region on the Sun was as big as the historically important Carrington event that took place in 1859,'' ISRO said in a statement. Bengaluru: A powerful solar storm impacted...
Asia’s extreme April heat worsened by climate change, scientists say
"Heatwaves have always happened. But the additional heat, driven by emissions from oil, gas and coal, is resulting in death for many people." In the Philippines, one of the worst-hit countries, authorities issued health warnings, shut down schools and rationed...
WTW announces market first facility for cargo and war-on-land risks in Ukraine
Sam Warnes, Director Marine Cargo commented, “This facility complements our other cargo war offerings such as our Black Sea Grain facility and $300m facility offering cover in the Red Sea and other high risk war areas.” London: WTW, a leading global advisory, broking...
Catastrophe models underestimate climate risks, find out investors
Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, are built on calculations that can underestimate a new breed of risk stemming from high-frequency events such as wildfires and thunderstorms,...
Russia certifier steps in after India drops safety cover for sanctioned ships
Major insurers and ship engine makers have already withdrawn cover for Russia’s tanker fleet, which Moscow is relying on to maintain the country’s oil trade after Washington and its allies including the European Union imposed a raft of sanctions for its invasion of...
South Africa’s Ramaphosa to sign health insurance bill into law just before electio
The law aims to provide healthcare to millions of poor citizens in a major overhaul of a two-tier system, which still reflects deep racial and social inequalities three decades after the end of white minority rule. Johannesburg: South Africa's President Cyril...