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EU likely to propose to G7 lowering price cap on Russian oil to $50 per barrel
The G7 price cap was agreed in December 2022, banning trade in...
High crypto investors seek bodyguards to deter kidnappers
People with crypto wealth face unique physical risks because public...
Munich Re appoints Owais Ansari as CEO, Life & Health Middle East and North Africa
Owais Ansari, chief executive officer, Life & Health, Middle East and North Africa, Munich Re Owais Ansari said,``The Middle East and North Africa offer significant opportunities for life and health (re-)insurance. Munich Re having an established presence in this...
Markel appoints Kevin Leung as chief underwriting officer for Asia
Kevin Leung, chief underwriting officer, Asia Pacific, Markel This appointment is the next step on our journey to empower and develop our underwriting team in Asia. Our aim is to provide the best specialist underwriting capabilities to businesses in Asia Pacific.”...
Musk, Zuckerberg lead a $852 billion surge among world’s richest in first half of 2023
The gains coincided with a broad stock market rally, as investors brushed off the effects of central bank interest rate hikes, the ongoing war in Ukraine and a crisis in regional banks. The S&P 500 rose 16% and the Nasdaq 100 surged 39% for its best-ever first...
Wind turbines that shake and break cost their maker billions
Executives and board members are concerned that fixing the problem may far exceed the company’s estimate of more than €1 billion ($1.1 billion) Customers have started to worry. Some who already ordered turbines and others who were in talks with Siemens Energy say...
Reinsurers’ discipline continues at 7/1 renewal: Gallagher Re
Tom Wakefield, Global CEO Gallagher Re, said: “With the improved terms and conditions available in the reinsurance market, some existing reinsurers are leaning into the hardening market, committing more of their existing capital, as well as any new capital they are...
Axa sets first emissions goals for insurance portfolio
Europe's second-biggest insurer said it would aim for a 20% decrease in the carbon intensity of its largest individual auto insurance portfolios between 2019 and 2030 and a 30% drop in absolute carbon emissions from its largest corporate customers between 2021 and...
China’s new anti-espionage law puts foreign companies in tough situation: Report
The revision expands the scope of targets for espionage to "all documents, data, materials and articles," and allows law enforcement officials to inspect the baggage, electronic devices and property of a suspect This increases the risk for businesses, which are...
Bank of England consults on next leg of insurance capital reforms
The Solvency II rules were inherited from the European Union and their reform is seen by the insurance industry and by lawmakers who supported Britain’s exit from the bloc as a key “Brexit dividend” to unlock billions of pounds to invest in infrastructure The Bank of...
‘Climate washing’ lawsuits jump as more activists challenge corporate claims, report shows
“One of the most significant groups of climate-washing cases to emerge in recent years have been cases challenging the truthfulness of corporate climate commitments, particularly where these are not backed up by adequate plans and policies,” the report authors, Joana...
Aspartame sweetener used in Diet Coke a possible carcinogen, WHO’s cancer research agency to say
Aspartame has been extensively studied for years. Last year, an observational study in France among 100,000 adults showed that people who consumed larger amounts of artificial sweeteners – including aspartame – had a slightly higher cancer risk.It followed a study...