"There will likely be increased flows into safe-haven assets like...
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American Airlines jet engine catches fire after landing in Denver, passengers evacuated
The engine fire is the latest in a series of high-profile aviation...
French publishers and authors sue Meta Platforms for copyright infringement
SNE, the trade association representing major French publishers...
Floods in Indian NE states and Bangladesh, 11more dead, 47 lakh affected in Assam
Dhaka/Guwahati: Army troops were called in to rescue thousands of people stranded by massive floods that have ravaged northeastern India and Bangladesh, leaving millions of homes underwater and severing transport links, authorities said Saturday. In India’s Assam...
Turkish insurers come under severe strain: Fitch
The effects of macroeconomic deterioration, soaring inflation and the continuing price cap on motor third-party liability (MTPL) insurance could push some insurers below minimum regulatory solvency levels, forcing them to raise capital or to be acquired by stronger...
AXA XL appoints HaoMing Zhou as country manager, China – Insurance
Gilles Fromageot, Regional Manager, Asia, AXA XL said “As the risk landscape and economic conditions continue to evolve, businesses are faced with new challenges every day, further increasing the need for an expert partner.” AXA XL Insurance today announced the...
Fairfax Financial to sell pet insurance operations to Germany’s JAB in $1.4 bln deal
Fairfax, the Canadian investment company headed by well known contrarian investor Prem Watsa, will sell its interests in Crum & Forster Pet Insurance Group and Pethealth Inc including all of their worldwide operations to JAB's pet insurance unit for $1.15 billion...
5 million people in India were internally displaced due to climate change and disasters in 2021
The annual Global Trends Report by the UN Refugee Agency (UNHCR) highlighted that globally 100 million people were forced to flee their homes last year due to violence, human rights abuses, food insecurity, the climate crisis, war in Ukraine and other emergencies from...
Bitcoin slides below $20,000 to lowest since December 2020
"Breaking $20,000 shows you that confidence has collapsed for the crypto industry and that you're seeing the latest stresses," said Edward Moya, Senior Market Analyst, The Americas OANDA, on Saturday. Moya said that "even the loudest crypto cheerleaders from the big...
‘Surprise’ early heatwave in Europe, harbinger of things to come
Drought warnings are an added concern in much of western Europe, as no significant rainfall is forecast in Europe in the coming days, apart from isolated thunderstorms UN: Sweltering conditions in Europe have come earlier than expected this year but the bad news is,...
China’s digital yuan extends usage into finance scenarios
Transactions using e-CNY totaled 87.6 billion yuan at the end of 2021, with 261 million individual e-wallets opened, according to the central bank The People's Bank of China is a front-runner in developing and issuing a central bank digital currency (CBDC), which in...
Rating Action: Moody’s places Peak Re’s ratings on review for downgrade
The review for downgrade on Peak Re's A3 IFSR follows Moody's rating action on June 14, 2022 to place on review for downgrade the Ba3 corporate family rating of Peak Re's majority shareholder, Fosun International Limited (Fosun, Ba3 review for downgrade). The rating...
Beazley launches a D&O solution for crypto companies
Luisa Celentano, Underwriter, D&O Specialty Risks said: “The crypto market is growing rapidly, and becoming increasingly mainstream. Crypto firms face a myriad of risks from extreme volatility to a lack of regulation, and they also have to contend with different...