Underwriters are now charging 0.2% of the value of a ship for calls...
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Boeing 787’s emergency-power system likely active before Air India crash, WSJ reports
The preliminary finding raise questions about whether the plane's...
Battery Ventures invests in Descartes Underwriting
“Over the past six years, Descartes has established itself as the...
India & China to account for half of global economic growth in 2023, says IMF chief
The period of slower global economic activity will be prolonged, with the next five years witnessing less than 3 per cent growth, “our lowest medium-term growth forecast since 1990, and well below the average of 3.8 per cent from the past two decades,'' IMF managing...
Sequoia Capital’s $8.5m funding for a startup improving fleet driver behaviors with telematics
It's a marketplace worth $76B today and set to grow to $214B in the next 6 years. LightMetrics is powering the global vehicle telematics industry with intelligent video capabilities as revenues grow 3x while customer numbers cross 2,500 fleets globally. Their flagship...
Total global reinsurance capital shrinks 12% to $638bn in 2022:Gallagher Re report
The drop in capital was driven by a decline in the value of investments. There was also a conspicuous absence of new capacity, despite the potential attraction of much tightened pricing and terms and conditions Perhaps most notably, for the first time in the past ten...
Howden accelerates growth in the Gulf with the establishment of Howden Bahrain
Dalal Buhejji, Executive Director of Business Development for Financial Services at the Bahrain Economic Development Board, said: “In line with the Financial Services Sector Development Strategy under the Kingdom’s Economic Recovery Plan which outlines an overall...
UN maritime agency raises concerns about shadow oil tanker fleet
Countries including Spain, Australia, the U.S. and Canada are part of a push at the IMO to increase oversight of the murky activities in oil trading that have emerged within the last year. Russia’s invasion of Ukraine — and subsequent sanctions by Western governments...
April 1 renewals: Reinsurers maintain discipline, focus on pricing and contract improvements, Gallagher Re
``Despite this more uniform and global approach, a client-led underwriting process remained evident. Clients and markets who had seen significant price increases and tightening of reinsurance conditions in recent years consequently experienced more measured...
China cuts medical benefits for seniors due to cash shortage
In the longer term, the "grey hair movement" is indicative of a fundamental issue facing the Chinese government, how to care for a rapidly ageing society where 400 million people, or 30 per cent of the population, will be 60 or older by 2035. China's public health...
Italy curbs ChatGPT, starts probe over privacy concerns
The rapid development of the technology has attracted attention from lawmakers in several countries. Many experts say new regulations are needed to govern AI because of its potential impact on national security, jobs and education. The European Commission, which is...
Munich Re exits Net-Zero Insurance Alliance
“In our view, the opportunities to pursue decarbonisation goals in a collective approach among insurers worldwide without exposing ourselves to material antitrust risks are so limited that it is more effective to pursue our climate ambition to reduce global warming...
German court expects conviction for former Audi boss in diesel scandal
Former Audi boss Rupert Stadler The trial is one of the most prominent court proceedings in the aftermath of the diesel scandal at Volkswagen and its subsidiary Audi. Revelations that millions of emissions tests had been manipulated emerged in September 2015 According...