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Total global insured losses in 2025 at $107 billion, 24% lower than $141 billion recorded in 2024
Balz Grollimund, Swiss Re's Head Catastrophe Perils, says: "We are...
Cyclone Ditwah causes nearly Rs 75 billion damage to Sri Lanka’s infrastructure
It was pointed out that some 316 roads and 40 bridges under the...
Reinsurers’ underwriting margins to peak in 2024,says Fitch
Fitch also forecasts an improvement in underlying profitability for the global reinsurance sector in 2024 on continued strong underwriting margins and rising investment income, and is maintaining its improving fundamental sector outlook Frankfurt /Chicago: Reinsurers’...
Amazon closes UK insurance site
"Over the last year we have been evaluating various businesses and programmes, and as a part of that we’ve made the difficult decision to discontinue the Amazon Insurance Store," Amazon said in a media statement, adding that customers who bought policies would not see...
Red Sea turmoil sends economic shockwaves far and wide
According to Freightos, a cargo booking company, the cost of shipping containers from China to the Mediterranean Sea has more than quadrupled since late November WASHINGTON: Two months of missile, drone and hijacking attacks against civilian ships in the Red Sea have...
Boeing to pause 737 production for quality stand down on Jan 25
During the stand down, employees will attend quality workshops and “pause, evaluate what we’re doing, how we’re doing it and make recommendations for improvement,” said Boeing Commercial Airplanes President Stan Deal WASHINGTON: Boeing will hold a quality stand down...
Australia imposes sanctions on Russian hacker over Medibank breach
This is the first time Australia has used its cyber sanctions framework since legislating it in 2021. The sanction makes it a criminal offence, punishable by up to 10 years in jail and fines Australia on Tuesday imposed cyber sanctions on a Russian man for his role in...
Global watchdog to report in October on how social media fuels bank runs
Depositors pulled $42 billion from Silicon Valley Bank in just 10 hours. FSB Secretary General John Schindler said the watchdog is looking at how have deposit dynamics changed, what role has social media played, and what role has new technology played now that...
Bermuda reinsurer returns peaking, to remain favorable in 2024: Fitch
``We expect market conditions to remain favorable at the 2024 midyear renewals, although with stabilizing rates as pricing is generally sufficient. (Re)insurers are also expected to mostly maintain the tighter terms and conditions negotiated in 2023,'' said Fitch New...
Spanish court rules Facebook moderator suffered work-related mental trauma
It is the first time in Spain that a court has recognized a content moderator’s sick leave was caused by their job, said Francesc Feliu, the worker’s lawyer who is also representing around 20 other former and current content moderators at CCC on similar legal grounds...
Near record jump in CO2 emissions expected in 2024 risks climate goal
The jump is the result human-induced pollution, plus the El Niño weather pattern, which weakens the ability of the world’s natural carbon sinks to absorb CO2, according to a forecast by the UK’s Met Office Carbon dioxide emissions are on track for one of the biggest...
Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked securities (of which catastrophe bonds are the dominant sub-category), which generated over 14%, according to Preqin, a consultancy that provides data on the alternative asset management industry....