However, ongoing geopolitical uncertainty, including the...
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GIC syndicate 1947 novates managing agency services to Asta
Ramaswamy Narayanan, CMD, GIC Re Ramaswamy Narayanan, GIC Re...
Gulf shipping costs drop as Israel-Iran ceasefire holds
Shipping rates for supertankers, which can carry 2 million barrels...
India enters top 100 in global SDG rankings for first time
The report's authors flagged that SDG progress has stalled at the global level, with only 17 per cent of the 17 targets projected to be achieved by 2030. New Delhi: India has for the first time secured a place among the top 100 out of 167 countries ranked for their...
Escalating Hormuz tensions drive up Middle East war risk insurance costs, sources say
War risk insurance premiums for shipments to the Middle East Gulf have jumped to 0.5% from around 0.2-0.3% a week ago, as risks grow to the critical Strait of Hormuz, the sources said LONDON: U.S. and Israeli attacks on Iran and Tehran's reprisals have doubled the...
Aon launches Aon Broker Copilot to modernize insurance placement with AI and data at scale
" "The industry is undergoing a fundamental shift. As risk becomes more complex, the future of broking will belong to firms that can combine expertise with intelligence at scale. Aon Broker Copilot reflects how Aon is undertaking one of the most ambitious digital...
Asia warming twice as fast as global average: WMO
The sea surface in Asia is also warming at nearly double the global average over the past decades, said the World Meteorological Organization's "State of the Climate in Asia in 2024" report. New Delhi: Asia, the largest continent in the world with around 60 per cent...
Airlines weigh Middle East cancellations after US strikes in Iran
Cancellations in recent days to usually resilient aviation hubs like Dubai, the world’s busiest international airport, and Qatar’s Doha by international carriers show how aviation industry concerns about the region have escalated Airlines on Monday were weighing how...
Rio Tinto reaches $138.75 million settlement over Mongolian mine
Lawyers for the shareholders plan to seek legal fees of up to 13% of the settlement amount, or about $18 million excluding interest, plus up to $2.6 million for expenses, court papers show Rio Tinto agreed to pay $138.75 million to settle a lawsuit that accused the...
Toyota’s Japanese insurer sues South Africa over $361 million flood claim
The claim alleges that the floods, which closed the Prospecton plant for four months, cost the company about 4.5 billion rand in plant repairs and rehabilitation and more than 2 billion rand in business interruption, the newspaper reported. A 6.5 billion rand ($361...
Iranian parliament approves a measure to close Strait of Hormuz
Around 20% of global oil and gas flows through Strait of Hormuz. "If they do that, it will be another terrible mistake. It's economic suicide for them if they do it. And we retain options to deal with that, but other countries should be looking at that as well. It...
US airlines at greater risk as global carriers bypass Middle East after attacks on Iran
Airlines continued to avoid large parts of the Middle East due to missile exchanges between Israel and Iran, the latest upheaval to travel in the region. U.S. strikes on Iran's nuclear sites could heighten the threat to American operators in the region, an...
UK’s car theft reaches near a 15-year high, cost insurers $867 million
While owners are compensated when their cars are taken, vehicle theft isn’t a victimless crime. The more cars are stolen, the more insurance premiums go up. In the first three months of the year, British car owners were quoted an average of almost £800 a year for...