Under the new €110 million Ukraine Recovery and Reconstruction...
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China to expand private pension scheme nationwide from Dec 15
Those covered by public pension insurance will be allowed to open...
China targets Nvidia with antitrust probe, escalates US chip tensions
The statement from the State Administration for Market Regulation...
UN seeks USD80 million to prevent tanker disaster in Red Sea
David Gressly, the UN resident and humanitarian coordinator for Yemen, made the appeal saying the FSO Safer tanker is “a time bomb” because a major oil spill from it “would unleash a massive ecological and humanitarian catastrophe centered on a country already...
AIG looks at cutting insurance for Russia, Ukraine
“What we are now seeing are the underwriters starting to introduce Russia, Ukraine wording into their policies,” said Meredith Schnur, managing director, U.S. and Canada cyber brokerage leader at insurance broker Marsh, declining to name the insurers Insurance brokers...
Munich Re tightens up cyber insurance policies to exclude war
Munich Re is seeking clearer war exclusion clauses in cyber policies, based on wording developed last year in the Lloyd’s of London market S&P Global said last week that insurance losses from the Ukraine conflict could total $35 billion, with cyber one of the...
Insurtechs battling persistent losses, slumping stocks bring in seasoned execs: S&P
"As the publicly traded insurtechs have seen their share prices crater, and they have had to report performance results, it became evident that the insurance part of 'insurtech' wasn't working," Hertz said Insurance technology companies dealing with poor profitability...
Costs of insuring ships in Black Sea skyrocket
Underwriters are charging as much as 10% of the value of a ship’s hull — basically the vessel’s worth as an asset — for what is called an additional war-risk premium, according to four people involved in the market. Some are simply quoting to cover at prices that they...
New COVID wave a reminder pandemic is ‘far from over’: Guterres
António Guterres,UN Secretary-General UN Secretary-General António Guterres said the summit was “a critical reminder that the COVID-19 pandemic is far from over. We’re seeing 1.5 million new cases each day. Large outbreaks are spreading in Asia”, he continued...
Food prices hit record high in March, U.N. agency says
Disruption to supplies of crops from the Black Sea region has exacerbated price rises in food commodities, which were already running at 10-year highs in the FAO's index before the war in Ukraine due to global harvest issues. Sugar and dairy prices also rose sharply...
Global reinsurance capital rises 8.4 % to $728 billion in 2021
The underlying combined ratio improved to 99.8% (2020: 100.7%), which is the first time since 2014 that it has fallen below 100% A majority of the reinsurers have reported strong results for 2021 with improved capital positions backed up by rising equity markets and...
Airbus, Qatar jetliner feud enters UK court spotlight
Qatar has grounded 23 of the A350 jets, voicing concerns over the safety impact of gaps in a layer of lightning protection left exposed by cracked and bubbling paint It says it will not take further deliveries until the cause is formally explained and is suing Airbus...
Russia credit insurance shows 99% chance of default within year
Credit-default swaps insuring $10 million of the country’s notes for one year were quoted at about $7.3 million upfront and $100,000 annually on Wednesday, according to ICE Data Services’ prices on Bloomberg. That’s up from about $5 million in advance last week, the...