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WTW and SOMPO announce global partnership to deploy Radar for its non-life insurance services
Tadashi Yamanaka, executive officer of System at Sompo Direct...
Global P&C insurance market sees efficiency, capacity and resilience: Swiss Re
Jérôme Jean Haegeli, Swiss Re's Global Chief Economist, says: “The...
China to deepen financial reform, open to more foreign investment
"We need to deepen reform of the financial system, improve financial regulation, and see that all those involved assume their full responsibilities to guard against regional and systemic financial risks," Premier Li Keqiang Beijing: China will deepen financial reform...
El Nino expected to return, likely to fuel spike in global temperatures
La Nina refers to the large-scale cooling of the ocean surface temperatures in the central and eastern equatorial Pacific Ocean, coupled with changes in the tropical atmospheric circulation The El Nino event may develop after three consecutive years of an unusually...
Global energy-related CO2 emissions edged up to record high in 2022 – IEA
"We still see emissions growing from fossil fuels, hindering efforts to meet the world’s climate targets," IEA Executive Director Fatih Birol said in a release alongside the report. LONDON: Global energy-related emissions of carbon dioxide hit a record high last year,...
Insurers pay Bangladesh owner $22.48 mln after ship explosion in Ukraine
Insurance was provided by Dhaka-based Sadharan Bima Corp. and reinsured through Lloyd’s of London player Beazley and broker Tysers, they added “All the formalities with the reinsurer are done. The amount will be remitted by tomorrow, if not today,” Syed Belal Hossain,...
Canopius expands APAC footprint with Melbourne office launch
Canopius will initially underwrite casualty business from Melbourne and broaden its offering as the business grows, with plans already underway to make new hires in the coming year. SINGAPORE: Canopius Group, a leading global specialty (re)insurer, today announced the...
US urges Microsoft, Twitter to strengthen Cyber security
“Technology manufacturers must take ownership of the security outcomes for their customers.Microsoft, Twitter and other technology companies should by default enroll users in basic safeguards such as multifactor authentication,” Jen Easterly, director of the...
Visa and Mastercard slow down on plans to forge new partnerships with crypto firms
The crypto industry saw a stunning reversal of fortunes in 2022 as bankruptcies of industry majors FTX and BlockFi rattled investors and increased regulatory scrutiny on the sector “Recent high-profile failures in the crypto sector are an important reminder that we...
Tesla and Elon Musk sued by shareholders for overstating the effectiveness and safety of company’s EVs
In a proposed class action filed in San Francisco federal court, shareholders said Tesla defrauded them over four years with false and misleading statements that concealed how its technologies, suspected as a possible cause of multiple fatal crashes, “created a...
Expected rise in strikes, riots and protests to test business resilience: Allianz
The heightened SRCC risk environment means businesses need to remain vigilant about the different threats such activity can pose. In addition to buildings or assets suffering costly material damage, operations can be severely disrupted, resulting in significant loss...
Global cyber-insurance market makes a comeback, Price hikes moderate
Cyber-insurance pricing increased 10% from a year earlier in January, a fraction of the 110% annual increase reported in the first quarter of 2022, preliminary data from insurance broker Marsh McLennan show. If those trends continue, prices could be set to decline,...