Ergo, the primary insurance business of reinsurer Munich Re, will...
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Fed in no hurry to cut rates amid high uncertainty about Trump tariffs
Jerome Powell, head of the US Federal Reserve "Uncertainty around...
Red Sea insurance rates to stay firm as US airstrikes raise fears for ships
War risk premiums briefly eased to around 0.5% of the value of a...
Oil tankers blocked near Turkey by proof-of-insurance rule
The measure, which came into force on Friday, compels ships carrying crude oil to have a letter from their insurer guaranteeing cover while in Turkey’s waters. Oil shipments from Russia and Kazakhstan are getting ensnared in a Turkish government rule to provide proof...
South Korea’s only reinsurer announces to drop new coal, but with loopholes
Asia’s second-largest reinsurance company, Korean Re, will no longer be providing reinsurance 1 for new coal mining or power plant construction from next month. Over 60 percent of the global reinsurance market, including reinsurers such as Hannover Re and Swiss Re,...
Europe sets Russian Oil at $60 a Barrel: What changes now
The UK and EU will also introduce a ban on maritime services for the transport of Russian oil, including to third countries. The list of banned services includes insurance, brokerage and crucially the EU-based tanker fleet including ships owned in Greece and Cyprus....
Indonesian families sue drug regulator, govt after children die of kidney disease
Nearly 200 children have died of acute kidney injury in Indonesia this year and authorities have said two ingredients, ethylene glycol and diethyelene glycol, found in some syrup-based paracetamol medications are linked to the illness Awan Puryadi, a lawyer...
WTW appoints William Miller as Head of Crisis Management for APAC
Luke Ware, Head of Corporate Risk & Broking Asia, WTW said: “As geopolitical tensions rise, individuals and businesses are exposed to a wider range of security risks which is why we have expanded our offering to include domains such as Special Crime and high-risk...
Indonesia evacuates villagers as volcano erupts on Java island
There were no immediate reports of any casualties from the eruption of the Semeru volcano and Indonesia's transport ministry said that there was no impact on air travel but notices had been sent to two regional airports for vigilance The volcano's plume of ash reached...
Air pollution hurts Bangladesh GDP as well as health, World Bank says
Air pollution was deemed the second largest risk factor leading to deaths and disability in Bangladesh in 2019, with four out of the top five causes of total deaths being directly associated with its exposure. Dhaka: Bangladesh’s economic losses from ambient air...
France to release 5 bln euros of SDRs to vulnerable countries under G20 programme
The contributions are part of a G20 initiative - led by France and the United States - to reallocate $100 billion worth of SDRs to the world's most vulnerable countries Paris; France will release some 4 billion International Monetary Fund (IMF) Special Drawing Rights...
EU takes ‘first step’ to certify removing CO2 from atmosphere
The EU has committed to cut its net greenhouse gas emissions by 55% by 2030 from 1990 levels, and reach “net zero” emissions by 2050 – meaning that any remaining emissions that cannot be completely cut in sectors like agriculture or cement making must be balanced by...
WHO and European Commission partner to achieve universal health coverage
Strengthening health systems and advancing universal health coverage worldwide is one of the three key priorities of the Strategy Geneva: The World Health Organization (WHO) and the European Commission yesterday agreed on reinforcing a decade-long collaboration to...