This mirrors trends across Europe and the United States, where a...
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Howden aligns global broking regions, forms EMEA broking region
Howden’s MEA businesses – including the UAE, Bahrain, Oman,...
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...
Citi, StanChart evacuate Dubai offices, HSBC closes Qatar branches as fears grow
The moves came after a spokesperson for Tehran's Khatam al-Anbiya military command headquarters said on Wednesday that Iran will target economic and banking interests linked to the U.S. and Israel in the region, after an attack on an Iranian bank. DUBAI/LONDON:...
Drone strikes near Dubai airport deepen Gulf aviation chaos
The U.S.-Israel war against Iran has led to tens of thousands of flight cancellations, reroutings and schedule changes worldwide, shutting much of the Middle East’s airspace – including Qatar's – due to missile and drone threats. DUBAI: Two drones fell near Dubai's...
Zurich Insurance to buy Generali’s Iris unit for €337 million ($389 million) in cash
Zurich said the purchase will make it a top-three provider of life and non-life insurance in Ireland, where it has served customers for more than 75 years. The deal comes a week after the Swiss company made a firm bid for specialty insurer Beazley Plc and started a $5...
Lockton Re launches Agentforce 360 Platform
Robert Bisset, CEO, North America, Lockton Re, said, “Agentforce will support the streamlining of some of our sales activity, creating better informed and more digitally connected broking teams. Many of our client teams are truly global and so the ability to share and...
Aon announces first stablecoin insurance premium payment
Led by Aon's digital asset practice, this initiative builds on established digital-asset risk advisory capabilities, translating industry leading client services in insurance and risk management into practical application within the firm's own operations. Recent U.S....
US’s DFC announces $20B plan for Maritime Reinsurance in the Gulf
Working alongside CENTCOM, DFC coverage will offer a level of security no other policy can provide. We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz and flowing again to the world,said DFC...
Reinsurers scrap war-risk cover after US torpedoes Iranian ship
Indian insurers and reinsurers have canceled hull coverages in war-affected areas after GIC Re flagged its seven-zone hull war-risk plan, effective March 1. The amended plan designates high-risk waters including Pakistan, the Persian Gulf, and Iran, besides...
Maritime insurance premiums surge as Iran conflict widens,in some cases by more than 1,000%
Analysts at Jefferies estimated on Thursday that potential industry losses from at least seven vessels reported damaged, at the time its note was published on March 5, could reach up to $1.75 billion. With most tankers valued between $200 million and $300 million, the...
EU countries give final approval to 2040 climate target for 90% emissions cut
In practice, the target will require an 85% emissions reduction from European industries against 1990 levels. The EU will pay developing countries via carbon credits, so they cut emissions on Europe’s behalf to make up the rest, to reach 90%.As part of the agreement,...
Seafarers can refuse to sail through Mideast Gulf region, main union says
As part of negotiated arrangements reached on Thursday between mariners and commercial shipping companies, known as the International Bargaining Forum (IBF), seafarers can refuse to sail into the area, with repatriation at the company’s cost and compensation equal to...