Fitch expects competition to intensify as supply outpaces demand,...
Category:
International News
Latest
Sompo to acquire Aspen for $3.5 Billion
James Shea, CEO of Sompo P&C, said “Strategic acquisitions have...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric...
As devastated Acapulco rebuilds, other Mexico resorts urged to heed its lessons
As Acapulco rebuilds after the deadly Category 5 hurricane, climate experts, architects, engineers and politicians recommended steps Mexico should take. These include tougher building standards, improving flood water management and enhancing storm detection to avoid...
Boeing says ‘cyber incident’ hit parts business after ransom threat
Lockbit was the most active global ransomware group last year based on the number of victims, and it has hit 1,700 U.S. organizations since 2020, according to the U.S. Cybersecurity and Infrastructure Security Agency (CISA) Boeing, one of the world’s largest defense...
Fitch raises India”s medium-term growth estimate, cuts China”s
Fitch made upward revisions to Brazil, India, Mexico, Indonesia, Poland and Turkey relative to its previous estimates. Fitch attributed the higher growth forecast for India to a swift recovery in labour force participation rates, following significant declines in 2020...
World Bank signs financing agreements to strengthen Nepal’s health system
The program emphasizes improving the readiness of the health system for delivery of quality healthcare, enhancing coverage of health insurance, and strengthening health emergency preparedness and response capacity at the selected provincial and local levels Kathmandu:...
Nepal earthquake kills at least 128, toll could rise, officials say
Officials feared the death toll in Friday's quake could rise as they had not been able to establish contact in the hilly area near the epicentre, some 500 km (300 miles) west of the capital Kathmandu, where tremors were also felt. The district has a population of...
Australian companies, directors face new liability for nature-based risks
Directors could be held personally liable for breaching their “duty of care and diligence” under the Australian Corporations Act by not identifying and disclosing nature-based risks. The most egregious violations of director duties can carry large fines or lead to...
Q3 InsurTech investment surpasses USD1 billion on P&C surge
With wealthy backers writing enormous checks, InsurTechs could ignore the importance of loss ratios or customer retention. They – and their investors – could instead focus on metrics like growth and divergence and miss the extremely important lessons that ultimately...
Threat of haywire AI feeds calls for development pause, AXA Says
Artificial intelligence can provide lots of benefits of society, “but obviously we need to have very clear rules that these benefits are not being abused,” Thomas Buberl, chief executive officer of Paris-based AXA, said during an interview while visiting the campus of...
Chinese Online Insurer Shouhui considers Hong Kong IPO in 2024
Founded in 2015 in Shenzhen, Shouhui Tech offers full service in insurance from online consulting to purchasing and compensation, according to its its website. It acquired an internet hospital license in 2022 which allows it to offer online medical services. Shenzhen...
Sompo International appoints Chiew as Head of Crisis Management, Commercial P&C Insurance, APAC
Pei Ru Chiew, head,Crisis Management, Commercial P&C Insurance in Asia Pacific, Sompo International “As Sompo International continues to pursue its global objectives, a top priority includes deepening our relationships in APAC. We are seeing growing demand for...