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Two vessels with 22 Indians on board hijacked by pirates in Yemen, Somalia
"As reported by Recruitment and Placement Service Licence (RPSL)...
China’s insurance sector likely to see modest growth in 2026:Fitch
Government and regulatory initiatives continue to support demand...
At least 47 dead in eastern Indonesia after magnitude 7.7 quake
Authorities issued a tsunami warning and urged coastal residents to move to higher ground, but later lifted the warning when Indonesia’s meteorological agency said monitoring showed no significant sea-level changes that posed a threat to coastal communities. Some...
Liberty Mutual Reinsurance makes world’s first earthquake parametric payment triggered by Safehub’s Shake Network
Jean-Christophe Garaix, head of parametrics and agriculture at Liberty Mutual Reinsurance, said: "Parametric insurance is increasingly being used to support natural catastrophe events. We deliver sophisticated parametric solutions which help clients in their times of...
Heatwaves could cost France €10-15 billion, environment minister says
The 2022 drought resulted in €5.6 billion in direct and indirect costs, but this year’s heatwaves have been longer and more intense, with more extensive forest fires and a greater decline in agricultural production, French environment minister Monique Barbut said. The...
AI’s volatile power demand is damaging Its own data centers
AI data centers put particular strain on their power supply when they are training new models — a process that mobilizes all of the graphics processing units in unison. Like the digital equivalent of bees swarming or a school of fish changing direction, hundreds of...
Hormuz Strait to remain closed unless U.S. meets Iran’s conditions, Iranian security council says
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of...
US court rules Meta, other tech firms must face thousands of lawsuits over social media addiction
Filed by states, municipalities, school districts and individuals, the lawsuits allege that social media companies intentionally addicted young users, contributing to surging depression, anxiety and body-image issues and a broader mental health crisis among American...
Oman says spill from grounded shadow oil tanker covers 400 square kilometers
Built in 2001, it is part of the so-called shadow fleet of older oil tankers used by Russia which lack Western insurance cover and sail under the flags of various nations to obscure their true ownership. Leaking crude oil from a tanker grounded off a nature reserve in...
Four crew, two rescuers killed in Red Sea attack; US strikes ship in Gulf of Oman
Traffic is even more disrupted in the Strait of Hormuz with just six passing through on Monday, down from a 10-day average of about 11 and prewar levels of some 130 to 140. Shipping through the Bab el-Mandeb strait and Red Sea has fallen by more than 50% since an...
Changing Hazards:Benign H1 2026 masks rising natural catastrophe risk, finds Swiss Re
Wildfire risk has so far accounted for only a relatively small share of insured losses in Europe. Yet it is the fastest-growing weather peril globally. Insured wildfire losses in Europe have increased by an estimated 8–11% per year in real terms since 1970, Swiss Re...
Key question:Whether reinsurers can maintain underwriting discipline or will irrational competition emerge
“If underwriting discipline and pricing integrity can be maintained despite record levels of capital, the industry may indeed be in the midst of a meaningful evolution of the reinsurance market. If not, history may once again demonstrate that the fundamental dynamics...