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DIFC’s re/insurance gross premium rises 35% to $3.5bn in 2024
The insurance and reinsurance sector also experienced robust...
Global natural disasters cause overall losses of around $ 131bn,insured losses at $ 80bn in H1 2025, says Munich Re
Thomas Blunck, Member of the Board of Management After the record...
Global regulators make tackling non-bank leverage a priority for 2024
The G20’s Financial Stability Board (FSB) and IOSCO, a global grouping of securities markets regulators, on Wednesday issued tougher liquidity management guidance for asset managers of open-ended investment funds, adding to existing guidance for money market funds,...
Shipping firms impose surcharges as Red Sea attacks hit global trade
In total, Maersk said a standard 20-foot container travelling from China to Northern Europe now faced an extra charge of $700, consisting of a $200 TDS and $500 PSS. Containers bound for the east coast of North America will be charged $500 each, consisting of the $200...
Shipping costs soar as war and climate risks choke key waterways
This week, provisional chartering rates for a Suezmax tanker to move oil from Iraq to the Mediterranean rose above 90 worldscale points, said shipbrokers. That’s a sharp jump from between 75 to 85 points in provisional bookings made in the past week. These points...
Toyota’s Daihatsu to halt all vehicle shipments, in widening safety scandal
The investigation found that the airbag control units used by Daihatsu in airbag tests for some models were different from the ones used in cars sold to the public, including Toyota’s Town Ace and Pixis Joy models and the Mazda Bongo. Toyota Motor’s Daihatsu unit will...
WHO classifies ‘low’ risk JN.1 coronavirus strain as ‘variant of interest’
The United Nations agency said current vaccines continue to protect against severe disease and death from JN.1 and other circulating variants of the COVID-19 virus Geneva: The World Health Organization (WHO) on Tuesday classified the JN.1 coronavirus strain as a...
China’s magnitude-6.2 earthquake kills over 100 in impoverished northwest
About 400 people were injured, thousands of buildings collapsed and some infrastructure were damaged, according to state media Beijing: Chinese leader Xi Jinping called for efforts to minimize casualties after an impoverished region in the northwest was hit by an...
Ebix files for Chapter 11 Bankruptcy, company’s nearly 200 non-US affiliates not included
Ebix has a tie-up with India's BSE for an insurance broking company, BSE Ebix Insurance Broking Private Limited. Ebix holds 40 per cent in the broking unit Insurance software firm and short seller target Ebix Inc. promoted by Indian-American Robin Raina-led technology...
More reinsurers will enter the Cyber Market in 2024, predicts New CyberCube Report
While there will be an increase in the frequency of cyber attacks fueled by the proliferation of Artificial Intelligence (AI), the insurance sector will work more closely with SMEs to address their needs. LONDON: Traditional reinsurance companies will start offering...
Lloyd’s of London extends lease on iconic building until 2035
The deal with landlord Ping An Insurance Group, which came together on Friday, not only grants Lloyd’s an option to stay in the Richard Rogers-designed high-rise until 2040, but also involves a commitment to invest in reducing the Grade I-listed building’s energy...
Britain’s National Grid drops China-based supplier over cyber security fears – FT
The decision came in April after the utility sought advice from the National Cyber Security Centre, a branch of the nation’s signals intelligence agency GCHQ, the newspaper quoted a Whitehall official as saying Britain’s National Grid has started removing components...