The losses—a one-third increase over 2023—were largely driven by...
Category:
International News
Latest
Swiss insurers Helvetia and Baloise to merge to create top 10 company
The new group, to be called Helvetia Baloise Holding, will become...
Japanese insurer MS&AD plans to invest $5 billion to double U.S. profits
The Tokyo-based casualty insurer has the highest market share in...
Elon Musk under federal investigation, reveals latest Twitter court filing
Elon Musk,CEO,Tesla In the court filing, Twitter without delving into details of the matter, simply said that they are looking into Musk's "conduct" linked to the deal. The main scrutiny seems to be on Musk's legal team Tesla CEO Elon Musk is being investigated by the...
APAC life insurers’ large liquidity positions limit derivative exposure risks
Japanese life insurers’ derivative-related exposures are higher than those of other insurers in the region, primarily because of hedged foreign-exchange risks, mainly against the US dollar. Generally, 50%-90% of these currency risks are hedged and transactions are...
Markel International appoints Rohan Davies to lead a combined wholesale marine and energy division
The wholesale operation, headed by Andrew McMellin, is seeing significant growth and remains on track to achieve its ambitious goal of being a US$2bn (GWP) player by 2025, as part of Markel’s global insurance operation’s previously disclosed goal to reach $10 billion...
Crypto hackers set for record year after looting over $3 billion: Report
At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc. Most of the targets are...
Andrew Carrier appointed as Chief Executive Officer of MS Amlin Underwriting
Prior to his role at MS AUL, Carrier spent six years at Everest Re, where he was responsible for the firm’s London Market, Continental Europe, and Asia Pacific reinsurance operations London: MS Amlin Underwriting Limited (MS AUL), the Lloyd’s (re)insurer, announced...
EU’s Dec 5 Russian oil sanctions are already hitting nation’s trade
The bloc’s measures, including a ban on insuring tanker shipments, enter into force on Dec. 5. A Russian cargo still on the water after that date will no longer be covered by a European underwriter or reinsurer. European Union sanctions on Russian oil might still be...
Energy infrastructure will become more vulnerable to extreme weather: World Meteorological Organization
``I think that if we don’t do anything, if we don’t make our energy system more resilient to climate change, there will be as big a disruption in the energy system as the war,” Roberta Boscolo, WMO climate and energy lead told Reuters as the UN agency launched a major...
UK watchdog tells pension funds to focus on building buffers
Nikhil Rathi, CEO, Financial Conduct Authority Regulators have told defined benefit pension funds to build up their liquidity buffers to cope with any further big hike in gilt yields when BoE support ends on Friday London: Britain's financial watchdog told pension...
E-commerce losses due to online fraud to exceed $48 billion globally
This growth will be accelerated by the increasing use of alternative payment methods, such as digital wallets and BNPL (buy-now-pay-later), which are creating new fraud risks "To combat this fraud, e-commerce merchants must implement simple steps such as address...
China’s population flows to pressure some local governments’ financials: Fitch
China’s urbanisation rate is already advanced at 64.7%, close to the government’s target of 65% by 2025, following successive liberalisation of the household registration system in recent years. Still, we also expect some rural to urban migration to continue over the...