Laurent Rousseau as Head of International, Marsh Re said,“Today’s...
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ChatGPT, Gemini, Claude face widespread outages; AWS also hit
According to data from Downdetector, reports of outages began...
Fitch maintains ‘deteriorating’ outlook on the global reinsurance sector for 2027
``Our expectations of further price declines – although less...
Thailand shifts disaster risk to insurers with $467 million plan
The government on Tuesday approved a 15.5 billion baht ($467 million) annual insurance program to cover 30 million households against floods, storms and earthquakes, said Prime Minister Anutin Charnvirakul Thailand plans to provide government-funded disaster insurance...
Aon strikes $17 billion deal for rival USI as insurance consolidation accelerates
“Combining with USI will establish the premier U.S. middle-market platform, deepen our context advantage and position Aon to accelerate organic growth,” said Greg Case, president and CEO of Aon, in a statement. Aon plc early Monday confirmed a definite agreement to...
ASR upgraded to ‘A3’ with Stable Outlook by Moody’s
Mikir Shah, chief executive officer, commented,``This upgrade recognises the strength of our underwriting, our growing relevance in developing markets, and the strong capital foundation supporting the next stage of our expansion.As we broaden our reach across new...
IGI launches of Cipher, a Specialty Treaty Reinsurance platform focussing Cyber
Waleed Jabsheh,President & CEO,IGI The initial focus of Cipher is to develop a portfolio of cyber treaty business with lead capabilities, targeting high-growth emerging risks within an MGA structure. This platform can be utilized for future growth and...
Before flood catastrophe, Nepal asked China for early warnings as risks mounted
"What we actually wanted from them, and still want, is if there are early movements of glaciers and early movements around that area, we would want to know a bit early," said Sauhardra Joshi, a hydrologist at Nepal's Flood Forecasting Division, who was in the May...
AI Cyberattacks: Global firms warn of ‘Limited Window’ to protect critical infrastructure
OpenAI, Anthropic, Microsoft, Google, Visa and Mastercard are among the signatories to an open letter issued on August 27, which cautioned that existing cybersecurity measures may soon prove inadequate as AI-enabled attacks become more widespread and sophisticated. A...
Aon close to acquiring USI Insurance from KKR in $17 billion deal, WSJ reports
The deal could be announced as early as Monday, Aon Plc is close to an agreement to acquire insurance brokerage USI Insurance Services from private equity firm KKR for about $17 billion, including debt, the Wall Street Journal reported on Sunday, citing...
Nepal Catastrphe: GIC Re’s losses limited as other international reinsurers take the hit
“Nepal’s non-life insurance market relies heavily on global reinsurance capacity to underwrite catastrophe risks, and so international reinsurers are expected to absorb a significant share of the overall insured losses,” said Victoria Ohorodnyk, senior director and...
Flood water level rises again in Bhotekoshi river: Nepal authorities
Death toll from the flash floods, which caused widespread devastation, has surged to nearly 700 and nearly 2,400 people remain missing following the disaster, according to authorities.. The impoverished Himalayan nation of 30 million people called for specialist...
Meta’s social media settlement leaves its money machine unscathed
Beyond a wave of lawsuits globally claiming it knowingly sought to addict children and caused a mental health crisis, Meta has also been under scrutiny over sexualized AI chatbot interactions with children. The legal threats, long shrugged off by shareholders, drew...