Based on the information received so far, Edison now expects a...
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Data standardisation key prerequisite for insures to effectively leverage AI:Accord study
While AI is accelerating the industry's ambitions, digital maturity...
Berkshire taps Charlie Shamieh to succeed Ajit Jain as insurance chief, WSJ reports
Charlie Shamieh,chairman, Gen Re Berkshire owns reinsurer Gen Re,...
A backlash against data centres is spilling into French municipal election races
This mirrors trends across Europe and the United States, where a surge in data center construction has fueled a backlash and turned power use and Big Tech’s footprint into electoral issues on a local and national level. In the town of Le Bourget outside Paris, Sofiane...
Howden aligns global broking regions, forms EMEA broking region
Howden’s MEA businesses – including the UAE, Bahrain, Oman, Tanzania, South Africa, and its newly launched operation in the Kingdom of Saudi Arabia – will align with the Howden Europe business to create a single EMEA broking region led by Luigi Sturani, CEO...
Marsh and Apollo design first-of-its kind insurance facility for Uber to accelerate autonomous ride-hailing
Autonomous Vehicle Insurance Program(AVIP) is underwritten by Apollo’s ibott® division and exclusively provides Uber with dedicated capacity to provide AV partners with comprehensive primary and excess liability coverage at preferred rates, reflecting their unique...
Saudi Aramco offers Red Sea route option for oil buyers as Hormuz faces lengthy disruptions
The other option is to receive oil from the Persian Gulf, but at the risk of not getting any if the strait remains closed, said the traders. Saudi Arabia is giving long-term oil customers the option of receiving their allocations for April via the Red Sea port of...
Top Africa insurer Sanlam flags ‘Massive’ risks from Iran war
The escalating tensions will hurt earnings of the firm with operations in 27 nations “very directly” as investor flight hits global equity markets and as rising fuel prices trigger inflationary pressure, which will result in higher borrowing costs.You impact consumers...
Warburg Pincus considers options for Asian insurer Oona
Warburg Pincus and Abhishek Bhatia, a former executive with billionaire Richard Li-backed FWD Group Holdings Ltd., set up Oona with a $350 million equity commitment in 2022. It has acquired two general insurance businesses in the region, Abda in Indonesia and MIIC in...
Iran laying mines in the Strait of Hormuz:UK Defense Secretary John Healey
John Healey,UK Defense Secretary The narrowness of the Strait of Hormuz — it is less than 25 miles (40 kilometers) wide at the thinnest point — makes the danger of sea mines more acute, as ships have less room to maneuver and greater odds of striking one of the...
World faces largest-ever oil supply disruption on Middle East war, IEA says
The supply could rise in April as some Middle East Gulf producers use alternative export routes to bypass the Strait of Hormuz, and said that, for the year, production would still expand more quickly than global demand. The war in the Middle East is creating the...
Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance companies to provide reinsurance policies behind Chubb and alongside DFC to expand market capacity,” the agency added. US insurance giant Chubb will be the lead partner on the U.S. International...
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 has been halted, not by a lack of available insurance, but by obvious safety concerns. The market for marine war risks is operating in the manner we would expect, given the increase in threats to...