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Nestle plunged into crisis as CEO fired for hiding romance with staffer
The loss of two CEOs and a chairman in a year is of historic...
Britain’s JLR hit by cyber incident that disrupts production, sales
The automaker is the latest British company to be hit by a cyber...
Turkey Earthquakes: Total insured losses likely to exceed $5 billion,Moody’s RMS
Economic losses from the moment magnitude (Mw) Mw7.8 and Mw7.5 earthquakes that struck southern Turkey on February 6 are likely to exceed US$25 billion Observations from early damage reports issued by the Turkish Ministry of Environment, Urbanization, and Climate...
Munich Re beats 2022 profit target with 74% fourth-quarter leap
"Munich Re absorbed the crises of 2022 well," Chief Executive Joachim Wenning said It reduced the share of proportional business and, owing to the attractive price level, grew in the area of non-proportional natural catastrophe covers in particular. Despite increasing...
UNCDF partners with Howden to build climate resilience for vulnerable communities in Fiji
The flagship programme has developed and deployed the Pacific region’s first parametric microinsurance products in Fiji, Tonga and Vanuatu. Suva, Fiji: The UN Capital Development Fund (UNCDF) announced international insurance broker Howden as a new addition to its...
Demand for `International Insurance Programmes’ grow as APAC businesses expand beyond local borders:Aon
Natural catastrophe events continued to drive large losses and pressure marketconditions for property insurance. Changes to the reinsurance market, including higher costs and retentions, and some coverage restrictions, will drive rate increases for both local...
Anil Wadhwani joins Prudential Plc as Chief Executive
Anil Wadhwani, chief executive, Prudential "I am thrilled to join the team at such an exciting time in the development of its Asian and African operations and am looking forward to meeting customers, colleagues, investors and key stakeholders."Anil Wadhwani , Chief...
Thai Life Insurance partners with Munich Re Automation underwriting solution
K.Denpong Jesadaviriya, EVP of Life Operations at Thai Life Insurance, added, “ With ALLFINANZ SPARK, we will be able to move faster in the market, gain access to Munich Re’s analytics services and, in the future, AI/predictive modelling capabilities. We really want...
Shipping industry grapples with ways to cut cargo fires at sea
“The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions,” Maersk’s Aslak Ross said separately in a statement. Global...
$3.7 billion UK mass action against Facebook over market dominance rejected – for now
Meta Platforms Inc., the parent company of the Facebook group, faces a mass action brought on behalf of around 45 million Facebook users in Britain. London: Facebook on Monday temporarily fought off a collective lawsuit valued at up to 3 billion pounds ($3.7 billion)...
Indian ESG-focused firms performed better than global peers: RBI
The findings suggested that the companies which have managed and disclosed their ESG related risks better are associated with higher stock prices compared to a larger set of listed companies which do not have such disclosures India ranks ahead of all the countries...
Aon’s rebuilding for resilience project addresses Hurricane Ian devastation
Dan Dick, global head of property analytics at Aon’s Reinsurance Solutions, said: “Our teams gained first-hand experience of the devastation caused by this historic hurricane, which allowed us to conduct thorough analyses and identify practical steps to improve...