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Marsh exploring selling its financial risk manager and life insurance broker for high-net-worth individuals in Asia
PCS provides financial risk management and life insurance services...
Ecuador contracts first parametric insurance for 10k climate-vulnerable farmers, with Germany, UNDP, ISF and IDF support
The two parametric products — for extreme rainfall and drought-risk...
AXA to run cyber risks campaign ahead of Paris Olympics
Nippon Telegraph & Telephone Corp., which provided cybersecurity services for the 2021 Olympic Games in Tokyo, reported 450 million attempted cyberattacks at the time Paris: AXA SA is planning a campaign to help prevent cyberattacks targeting France in the run-up...
Taiwan quake to hit some chip output, disrupt Asia supply chain, analysts say
The island plays an outsized role in the global chip supply chain as it is home to the world's largest chipmaker Taiwan Semiconductor Manufacturing Co , which supplies chips to Apple and Nvidia.The country also houses smaller chipmakers, including UMC , Vanguard...
Andreas Berger to succeed Christian Mumenthaler as group CEO of Swiss Re from July 1
Andreas Berger, group CEO designate, Swiss Re Jacques de Vaucleroy, Swiss Re's Vice Chairman of the Board of Directors, said,"The Board unanimously determined that Andreas Berger is the right person to build on the firm's current momentum and lead Swiss Re into the...
Strong earthquake strikes Taiwan, tsunami waves detected in Japan
Taiwanese television showed buildings in Hualien shaken off their foundations. The strong quake knocked out power in several parts of the city In the capital, Taipei, tiles fell from older buildings and within some newer office complexes. Train service was suspended...
Philippines warns of tsunami, orders evacuations after Taiwan quake
Coastal areas in 23 provinces from the north to the south of the archipelago nation, but not the capital Manila, “are expected to experience high tsunami waves” based on tsunami wave models, the state seismology institute said in an advisory MANILA: The Philippines...
Trapped boats start moving out of wreckage after US bridge collapse
Baltimore's shipping channel has been blocked since a fully loaded container ship lost power and collided with a support column of the Francis Scott Key Bridge last Tuesday, killing six road workers and causing the highway bridge to tumble into the Patapsco River The...
Sompo announces leadership changes for Asia Pacific Region
Kenneth Reilly, CEO, Insurance, Sampo, Asia Pacific region James Shea said, “As we invest and further develop our business across the Asia Pacific region it is fundamental to build our team to support our plans for continued growth. With more than 25 years of...
APAC’s Nat Cat economic losses at $65 billion in 2023, 91% uninsured
George Attard, CEO of Reinsurance Solutions for Aon’s Asia Pacific region Economic losses in the Asia Pacific region specifically, driven primarily by floods in China and drought in India, reached USD 65 billion “The findings from Aon’s 2023 Global Risk Management...
Shipowner in Baltimore bridge collapse seeks to limit liability to $43.7 mn
The company, Grace Ocean, could face hundreds of millions of dollars in damage claims, legal experts say.On Monday it filed a petition jointly with Synergy Marine, which was operating the Singapore-flagged cargo ship Dali. They claim the collapse of the Francis Scott...
Canadian school boards sue social media giants for over C$4 bln in damages
The products are “negligently designed for compulsive use, have rewired the way children think, behave and learn,” a joint statement by the boards said. That has caused learning and mental health crises in students, resulting in the schools having to invest more in...