The combined operations produced approximately $275 million in net...
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SKorea’s new lithium battery rules on planes highlight growing risk for aviation
Korean authorities said the measures were in response to public...
P/C insurers to weather volatile natural Catastrophe Risks
The industry has ample capability to absorb individual large loss...
COP 27-World Bank will host facility for climate disaster risk – Malpass
World president David Malpass said announced the new instrument, called the Global Shield Financing Facility, at a meeting with German Chancellor Olaf Scholz, who has spearheaded the effort among G7 members to create a program to give vulnerable countries access to...
Tesla changes insurance incentive scheme in China to urge purchases
Tesla delivered 71,704 China-made electric vehicles (EVs) in October, down 14% from a record high in September, according to the China Passenger Car Association last week Tesla Inc. said it has raised insurance incentives for car orders in China placed before Nov. 30,...
Australian insurer Medibank’ hacking appears to be far larger than initially suspected
“Based on the extensive advice we have received from cybercrime experts we believe there is only a limited chance paying a ransom would ensure the return of our customers’ data and prevent it from being published,” Chief Executive Officer David Koczkar said in the...
China’s super-rich see fortunes plunge as economy slows
The Hurun Rich list, which ranks China's wealthiest people with a minimum net worth of 5 billion yuan ($692 million), said only 1,305 people made the mark this year, down 11% from last year. Their total wealth was $3.5 trillion, down 18% Meanwhile, the number of...
15,000 killed by hot weather in Europe in 2022: WHO
"This is the fastest-warming region, according to a report launched this week by the World Meteorological Organization (WMO). Extreme temperatures accounted for more than 148 000 lives lost in the European Region in the previous 50 years. In just 1 year since, we lost...
Reeling from floods, Pakistan seeks climate compensation, debt relief
Pakistan and other climate-vulnerable countries are demanding that the U.N. climate talks this year in Egypt take steps to mobilize "loss and damage" funds for disaster-hit nations, and some say rich nations have a duty to pay these costs because their historical...
Inflation top worry for G20 countries -survey
Although central banks worldwide have embarked on a path of aggressive monetary policy tightening, their efforts to tame inflation run the risk of tipping the global economy into a recession Runaway inflation, an unfolding debt crisis and cost-of-living problems pose...
Precision Air plane crashes into Lake Victoria in Tanzania, 19 killed
Images shared by East African media showed the aircraft seemingly intact after plunging into Lake Victoria, which borders Tanzania, Uganda and Kenya Nineteen people died after a passenger plane crashed into Africa’s largest lake on approach to an airport in...
Markel Dubai growth further enhances capabilities in MENA region, announces 3 senior appointments
Max Robbie has been promoted to senior executive officer (SEO) at Markel Dubai, subject to regulatory approval. He joined Markel in Dubai in October 2021 and was previously head of upstream energy for Markel in Asia Dubai: Markel International, a subsidiary of the...
Global cyber insurance premium to grow 20% to reach $23 billion by 2025 from $10 billion in 2021: Swiss Re
The market has significant growth potential beyond these projections. Given estimates of annual global cyber losses at around $ 945 billion, roughly 90% of the risk remains uninsured, said Swiss Re Jérôme Haegeli, Swiss Re Group Chief Economist: "As cyberattacks have...