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US says it struck Iranian military sites, Tehran responds with air base attack
The strikes on Iran's Gulf coast were in response to "aggressive...
Trump ends Situation Room meeting without announcement; WH says ceasefire deal must “satisfy red lines”
"The Hormuz Strait must be immediately open, no tolls, for...
Top Africa insurer Sanlam flags ‘Massive’ risks from Iran war
The escalating tensions will hurt earnings of the firm with operations in 27 nations “very directly” as investor flight hits global equity markets and as rising fuel prices trigger inflationary pressure, which will result in higher borrowing costs.You impact consumers...
Warburg Pincus considers options for Asian insurer Oona
Warburg Pincus and Abhishek Bhatia, a former executive with billionaire Richard Li-backed FWD Group Holdings Ltd., set up Oona with a $350 million equity commitment in 2022. It has acquired two general insurance businesses in the region, Abda in Indonesia and MIIC in...
Iran laying mines in the Strait of Hormuz:UK Defense Secretary John Healey
John Healey,UK Defense Secretary The narrowness of the Strait of Hormuz — it is less than 25 miles (40 kilometers) wide at the thinnest point — makes the danger of sea mines more acute, as ships have less room to maneuver and greater odds of striking one of the...
World faces largest-ever oil supply disruption on Middle East war, IEA says
The supply could rise in April as some Middle East Gulf producers use alternative export routes to bypass the Strait of Hormuz, and said that, for the year, production would still expand more quickly than global demand. The war in the Middle East is creating the...
Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance companies to provide reinsurance policies behind Chubb and alongside DFC to expand market capacity,” the agency added. US insurance giant Chubb will be the lead partner on the U.S. International...
Shipping in Straits of Hormuz halted due to safety concerns, not insurance,says IUA chief executive
“Most prominent is shipping in the Straits of Hormuz where trade has been halted, not by a lack of available insurance, but by obvious safety concerns. The market for marine war risks is operating in the manner we would expect, given the increase in threats to...
Citi, StanChart evacuate Dubai offices, HSBC closes Qatar branches as fears grow
The moves came after a spokesperson for Tehran's Khatam al-Anbiya military command headquarters said on Wednesday that Iran will target economic and banking interests linked to the U.S. and Israel in the region, after an attack on an Iranian bank. DUBAI/LONDON:...
Drone strikes near Dubai airport deepen Gulf aviation chaos
The U.S.-Israel war against Iran has led to tens of thousands of flight cancellations, reroutings and schedule changes worldwide, shutting much of the Middle East’s airspace – including Qatar's – due to missile and drone threats. DUBAI: Two drones fell near Dubai's...
Zurich Insurance to buy Generali’s Iris unit for €337 million ($389 million) in cash
Zurich said the purchase will make it a top-three provider of life and non-life insurance in Ireland, where it has served customers for more than 75 years. The deal comes a week after the Swiss company made a firm bid for specialty insurer Beazley Plc and started a $5...
Lockton Re launches Agentforce 360 Platform
Robert Bisset, CEO, North America, Lockton Re, said, “Agentforce will support the streamlining of some of our sales activity, creating better informed and more digitally connected broking teams. Many of our client teams are truly global and so the ability to share and...