And although the recent string of accidents may be statistical...
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Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The...
Emboldened crypto industry seeks to cement political influence and mainstream acceptance
The crypto industry has scored some early wins since Trump took...
At least 151dead in Seoul Halloween stampede
Rescue workers, firefighters and police officers are seen on the street near the scene in Seoul, South Korea It was also Asia's second major crushing disaster in a month. On Oct. 1, police in Indonesia fired tear gas at a soccer match, causing a crush that killed 132...
Russia halts UN brokered Ukraine Black Sea grain exports
The U.N. chief said the grain deal brokered by the United Nations and Turkey in July helps "to cushion the suffering that this global cost-of-living crisis is inflicting on billions of people, his spokesman said Kyiv: Russia announced Saturday that it will immediately...
Pakistan needs USD 16 Bn to build back as losses due to flash floods cross over USD 30 Bn
As per the report, the damage, and loss, following the unprecedented floods in Pakistan require transparency, inclusion, and climate resilience The losses due to devastating floods in Pakistan have surpassed USD 30 billion in the country as the monsoon rains have...
47 dead, dozens feared missing as storm lashes Philippines
About 20 typhoons and storms batter the Philippine archipelago each year. It is located on the Pacific "Ring of Fire," a region along most of the Pacific Ocean rim where many volcanic eruptions and earthquakes occur, making the nation one of the world's most...
EU approves effective ban on new fossil fuel cars from 2035
"This deal is good news for car drivers… new zero-emission cars will become cheaper, making them more affordable and more accessible to everyone," Parliament's lead negotiator Jan Huitema said BRUSSELS: The European Union struck a deal on Thursday on a law to...
Swiss Re plunges into losses of $442 million in Q3 2022
Swiss Re's Group Chief Executive Officer Christian Mumenthaler said: "The first nine months of this year were marked by a confluence of events affecting Swiss Re's financial performance: from turbulence in the financial markets, to an increase in natural catastrophe...
Cyber insurance remained challenging in Asia, average rate rises by 25% or more: Marsh
“The global business environment remains tough for clients. Ongoing inflation and geopolitical instability are affecting all sectors and we expect even more challenging conditions in the already strained property catastrophe market following Hurricane Ian,” commented...
APAC reinsurers face single digit growth rate, declining investment income, higher claims: S&P Global Ratings
"We expect most of the rated regional reinsurers to revise asset allocations amid rate hikes in certain countries, capital market volatility, and inflationary pressures on hedging costs. Regional reinsurers continue to have relatively higher allocation to risky assets...
Dubai Aerospace, with 19 jets stuck in Russia, sues 11 insurers in London
The High Court claim also names Fidelis Insurance Ireland, HDI Global Speciality, Abu Dhabi National Insurance Company , Great Lakes Insurance, Global Aerospace Underwriting Managers, Starr Europe Insurance and Axis Speciality Europe Aircraft leasing firm Dubai...
Moody’s cuts Fosun International’s credit rating, raises concerns over asset sales
Fosun’s insurance shareholdings include AmeriTrust Group, Peak Re, Fosun Insurance Portugal, and Pramerica Fosun Life Insurance. Global credit rating agency Moody’s downgraded Fosun International Ltd. by one notch on Tuesday and revised its outlook to “negative” from...