The advisory follows an unnerving incident on Oct. 30 involving a...
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AIG to pay Neal $2.7 million to compensate for “foregone incentives”
John Neal, forner CEO, Lloyd's AIG withdrew its employment offer to...
Sri Lanka shuts offices, schools as 56 killed due to floods and landslides
More than 25 people were killed Thursday in landslides in the...
At least 50 hurt as LATAM’s Boeing 787 to Auckland ‘just dropped’ mid-flight
The cause of the apparent sudden change in trajectory of LATAM 800 could not be ascertained immediately. Safety experts say most airplane accidents are caused by a cocktail of factors that need to be thoroughly investigated At least 50 people were hurt when a Boeing...
Life expectancy dropped by 1.6 years during pandemic, reversing past progress: Lancet study
The study found that life expectancy declined in 84 per cent of countries and territories during this time. This demonstrated the “devastating potential impacts of novel pathogens”, the researchers said New Delhi: Global life expectancy dropped by 1.6 years between...
Generative AI is reshaping the cyber threat landscape: Lloyd’s report
The impact of GenAI on the cyber landscape is likely to increase the frequency, severity, and diversity of smaller scale cyber attacks, which will grow over the next 12-24 months, followed by a plateauing as security and defensive technologies catch up to...
SCOR overhauls its regional and business structure
The structures within Property & Casualty (P&C) and Life & Health (L&H) are being simplified to achieve more immediate client access and decision-making Paris: French major SCOR is restructuring its business processes to become a simpler and...
EU must prepare for ‘catastrophic’ climate change risks, agency says
Without more urgent action, the EEA said most of the 36 climate risks facing Europe could hit "critical or catastrophic levels" this century. They include risks to health, crop production and infrastructure BRUSSELS: Countries across Europe should prepare for...
Generali and UNDP build SME resilience in Asia
A joint research report by Generali and the UNDP report finds that SME growth and survival in Asia are threatened by a range of risks, including climate change, business interruptions, and limited access to capital markets. These risks are intensified by the lack of...
Hackers stole ‘Sensitive’ data from Taiwan Telecom giant: Ministry
"The initial analysis of this case is that hackers obtained Chunghwa Telecom's sensitive information and sold it on the dark web, including documents from the armed forces, foreign affairs ministry, coast guard and other units," the defence ministry confirmed in a...
Republican-led states sue US SEC over climate risk disclosure rules
The rules aim to standardize climate-related company disclosures about greenhouse gas emissions, weather-related risks and how companies are preparing for the transition to a low-carbon economy Ten Republican-led states in US have sued to challenge new federal rules...
Lloyd’s of London underwriting profit doubles to $7.52 billion in 2023
Gross written premiums rose by 11.6% to 52.1 billion pounds across the commercial insurance market, which has more than 50 member firms, Lloyd's said in an unscheduled trading update ahead of full results on March 28 LONDON: Lloyd's of London's underwriting profit...
Higher reinsurance costs and growing catastrophe budgets to erode profits of Asia-Pacific insurers: S&P
"With central banks across Asia-Pacific looking to adjust interest rates at different times, relative value of assets and returns, as well as hedging costs, could move," said Craig Bennett, credit analyst at S&P Global Ratings Melbourne: International rating...