Fitch expects competition to intensify as supply outpaces demand,...
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Sompo to acquire Aspen for $3.5 Billion
James Shea, CEO of Sompo P&C, said “Strategic acquisitions have...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric...
Turkey, Syria deadly earthquake could cost $4 billion in economic losses,Insured losses expected much lower $1 billion: Fitch
Insured losses will be much lower, possibly around $1 billion, due to low insurance coverage in the area, Fitch added Paris: The earthquake that has devastated Turkey and Syria could cause economic losses exceeding $4 billion, ratings agency Fitch said on Thursday....
Turkey acknowledges earthquake relief problems as death toll passes 12,000
The death toll from both countries was expected to rise as hundreds of collapsed buildings in many cities have become tombs for people who had been asleep when the quake hit. KAHRAMANMARAS/ANTAKYA, Turkey: President Tayyip Erdogan on Wednesday admitted there were...
Slamming ‘big formula milk companies’, WHO scientist calls for swift clampdown to protect nursing mothers
New research highlights the vast economic and political power of the big formula milk companies, as well as serious public policy failures that prevent millions of women from breastfeeding their children,” said Nigel Rollins, one of the authors of a series on the $55...
Corporate financial health to worsen, says Janus Henderson
While companies’ financial metrics have been resilient so far, the second half of 2023 is when corporate margins will decline as weaker consumer confidence and higher interest rates bite, the study found The risk premium on euro and U.S. investment-grade corporate...
U.S. firms in Taiwan making ‘contingency’ plans amid China tensions
In a survey released on Tuesday, which took place between Nov. 15 and Dec. 16, AmCham Taiwan said 33% of respondents said their operations had been “significantly disrupted” by the increase in tensions, compared with 17% when it did a flash survey in August right...
Nepal plane crash probe reportedly shows both engines lost power
The disaster added to the Himalayan country’s reputation as the world’s most dangerous place to fly. According to Aviation Safety Network data, the fatal crash was the 11th in Nepal in as many years A Yeti Airlines plane that crashed in Nepal last month had no engine...
Hundreds of containers ablaze at Turkey’s Iskenderun port, operations shut down
Turkey’s maritime authority said on Monday that the port, located on the Mediterranean coast in the southern province of Hatay, was damaged due to the earthquake that struck Turkey and neighboring Syria Leading global container shipping group AP Moller Maersk said...
Rethink needed to regulate Big Tech in finance, says BIS official
Data-rich Big Tech companies such as Alibaba and Amazon have been involved for some time in financial services such as banking, payments, asset management and insurance, with some also providing cloud computing to run key services for banks Their size and reach in...
Wealth Management:Ultra-rich foreigners flock to Singapore to set up family offices
Family offices are usually set up with the objective of managing the financial and investment needs of affluent families or individuals including providing financial solutions, budgeting, insurance, charitable giving, wealth transfer and succession planning, and tax...
Hackers who breached ION say ransom paid; company declines comment
The ransomware outbreak that erupted at ION on Tuesday has disrupted trading and clearing of exchange-traded financial derivatives, causing problems for scores of brokers, sources familiar with the matter told Reuters this week. The hackers who claimed responsibility...