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Proposed Hormuz passage deal not feasible for shipping industry, sources say
Ships sailing through the strait need to pay an additional war risk...
Swiss Re profit beats estimates with cost cutting
Andreas Berger, Chief Executive Officer, Swiss Re Lower major...
Goldman Sachs, Talcott partner $1 billion Bermuda reinsurance sidecar for U.S. annuities
Under a quota share agreement, the sidecar will assume a portion of specific U.S. annuities originated by Talcott.Talcott will provide the sidecar with support services across actuarial, finance, compliance and risk functions. Talcott Financial Group and Goldman Sachs...
ADB expands credit insurance programme with 4 global insurers, to unlock $2.5 billion lending across Asia-Pacific
Four insurers are—Sompo Japan Insurance, Mitsui Sumitomo Insurance, HDI Global and SCOR Business Solutions—are joining the programme for the first time. Under the arrangement, participating insurers will cover a portion of losses arising if financial institutions fail...
Projectile sinks Indian ship near Yemeni waters but all seafarers safe: Govt
The commercial vessel, MSV Faize Noore Oliya, sank in the Red Sea off the coast of Yemen on August 4, India's Foreign Ministry said, adding that it is coordinating with the Yemeni authorities over this incident. A projectile struck an Indian-flagged vessel near...
OpenAI finds evidence other AI agents escaped containment as it widens hacking probe
AI safety experts said the new disclosures paint a portrait of a group of cutting-edge labs whose ability to develop dangerous autonomous hacking agents outstrips their ability to keep them under control. OpenAI has discovered other instances in which autonomous...
Hackers hit Bitcoin’s safest hiding place in ongoing attack
Hackers have found a software flaw in a brand of “cold” Bitcoin wallet — considered one of the safest places to store cryptocurrency — and are siphoning tens of millions of dollars in an ongoing attack. Hackers have found a software flaw in a brand of “cold” Bitcoin...
Wildfires fan record sales of Cat Bonds to backstop risk
Wildfire risk is now the fastest-growing category of natural-catastrophe peril globally, with insured losses rising roughly 12% a year, according to KatRisk, a risk modeling firm. At the same time, investors are getting more comfortable with the financial models being...
US FAA certifies Boeing 737 MAX 7 in win for planemaker
Boeing has faced a more stringent certification process since two fatal MAX 8 crashes in 2018 and 2019, as well as scrutiny of the company's production and quality systems after a January 2024 mid-air cabin panel blowout on a nearly new Alaska Airlines MAX 9. The U.S....
Ebola outbreak in DR Congo spiralling out of control: WHO
The continued increase in cases, expanding geographic spread, and persistently high mortality underscore the rapidly evolving nature of this public health emergency. The World Health Organisation (WHO) has warned that the Ebola outbreak in the Democratic Republic of...
Drone strike in Egypt sparks security concerns about Suez oil exports
"The passage through the Red Sea, even via the longer Mediterranean route, could be put at risk, which threatens up to five million barrels per day of oil supply that can currently bypass the Strait of Hormuz," said Saul Kavonic, head of energy research at advisory...
Saudi Arabia unveils plans for multinational maritime defence coalition
The coalition would strengthen maritime security, safeguard freedom of navigation, secure international trade routes and energy supply lines, and protect shared maritime interests in the Bab el-Mandeb Strait and the Gulf of Aden. Saudi Arabia on Thursday unveiled...