Jurecka has been with the Group since 2011 and will succeed Joachim...
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Singapore says cyber espionage group targeting critical infrastructure
“UNC3886 poses a serious threat to us, and has the potential to...
Evidence shows Jeju Air pilots shut off less-damaged engine before crash, source says
The source said the evidence, including the cockpit voice recorder,...
Cigna abandons pursuit of Humana, plans $10 billion share buyback -sources
The deal talks ended due to the parties not being able to agree on price, two sources familiar with the situation said. There remains the possibility of a tie-up in the future, those sources said. Cigna, however, on Sunday announced plans to do an additional $10...
EU clinches deal on landmark AI Act
Despite the criticism, this is good news for businesses and society. For businesses, it starts providing companies with a solid framework for the assessment and mitigation of risks, that -- if unchecked -- could hurt customers and curtail businesses' ability to...
Fossil fuels-led temp increase may dent COP28 host UAE’s GDP by 72%
Shady Khalil, Campaigns Lead at Greenpeace Middle East and North Africa, said: “As one of the region’s most acutely threatened by climate change, the Middle East and North Africa face a future where rising temperatures could render vast areas uninhabitable,...
Insurers heavily exposed to climate change, global watchdog says
Insurers continue to have "material exposure" to climate change through investments in fossil fuels and energy-intensive industries, as well as through their underwriting of natural catastrophe risk, the global insurance watchdog said London: Insurers are heavily...
Africa Specialty Risks gets Lloyd’s in-principle approval to launch Syndicate in 2024 with managing agent Apollo
Mikir Shah, CEO, Africa Specialty Risks ASR Syndicate 2454 aims to begin underwriting in March 2024, and will focus on underwriting business across Africa, which represents around 2% of Lloyd’s business globally. This presents a unique opportunity for specialty risk...
AXA explores $1.1 bln disposal of European protection businesses -sources
The transaction could include businesses in France, Italy, Spain and part of the UK, which all sit under the group’s AXA Partners division AXA is considering selling some of its protection insurance businesses across Western Europe in a deal that could be worth up to...
Rising war risks prompt property insurers to rethink cover
“There’s a chance that the reaction to Ukraine and others is going to have more of an impact on other parts of the world that are not live situations right now but could be live in the future like Taiwan. You can’t get anything in Ukraine at this point in time. For...
Airline industry to meet in January over GPS spoofing spike
A spoofed plane’s navigation system will show it as being in a different place – a security risk if a jet is guided to fly into a hostile country’s airspace. Spoofing is common around conflict zones and areas with sensitive military targets Geneva: Global aviation...
Global insured losses from severe thunderstorms reach new all-time high of USD 60 billion in 2023, Swiss Re
Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of low-to-medium-severity events will aggregate to insured losses of more than USD 100 billion in 2023 Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "The cumulative effect of frequent, low-loss...
IFC,DFC and African Risk Capacity launch reinsurance fund to protect African smallholders impacted by climate crisis
Despite these increasing risks, subsidized agri-insurance is only available in four out of 54 countries across Africa, and currently only 3% of African farmers have insurance coverage for their farms. African smallholders - who face significantly more income shocks...