“Rising geopolitical tensions, a fracturing of global trust and the...
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US SEC sues Elon Musk over late disclosure of Twitter stake
Elon Musk In a complaint filed in Washington, D.C. federal court,...
Allianz Risk Barometer 2025: Business interruption top business risk in Asia
Christian Sandric, Regional Managing Director of Allianz Commercial...
Bridgestone reports ransomware attack at U.S. subsidiary
Bridgestone said third-party unauthorized access was made at Bridgestone Americas on Feb. 27, prompting it to shut down the computer network and production at its factories in North and Middle America for about a week An investigation later determined the incident to...
Bangladesh seeks $22.4 million after missile hits ship in Ukraine
The war risk cover was provided by Dhaka-based Sadharan Bima Corp. and reinsured through Lloyd's of London broker Tysers, a source at Sadharan Bima said Sadharan Bima's exposure was 10% with Tysers covering the remaining 90% Insurance premiums have soared by over 100%...
Russian crisis to worsen, save fuel by restricting use of cars: IEA
“By following a 10-step plan would reduce the price pain being felt by consumers around the world, lessen the economic damage, shrink Russia’s hydrocarbon revenues, and help move oil demand to a more sustainable pathway,” the Paris-based IEA said in a report. The...
Canadian Pfizer partner sues to head off patent lawsuit over COVID-19 vaccine
The lawsuit is part of a growing web of patent disputes over COVID-19 vaccine technology. Arbutus sued Moderna over its mRNA technology last month, but has not yet sued Pfizer or Acuitas Pfizer and Moderna were hit with patent lawsuits on Thursday by Alnylam...
COVID-19 pandemic is ‘far from over,’ says WHO
After more than a month of decline, COVID cases started to increase around the world last week, the WHO said, with lockdowns in Asia and China's Jilin province battling to contain an outbreak A combination of factors was causing the increases, including the highly...
Ping An posts 29% profit drop on China property woes, but sees losses easing
The insurance group has been shaken in recent quarters by growing concerns about its investments in the highly indebted property sector, which has been hit by a string of developer defaults, credit rating downgrades and slump in shares and bonds SHANGHAI/HONG KONG:...
Aircraft insurers brace for deluge of Russia claims, with Lloyds on hot seat
The Financial Times reported Thursday that Lloyd’s of London is expecting a “significant but manageable overall loss” with a final bill between $1 billion to $4 billion after reinsurance pays out, citing a person familiar with the matter. The exchange didn’t respond...
Swiss Re announces new appointments in Asia and North America
Ivan Gonzalez has been appointed CEO Reinsurance China and China country president with effect from 1 July 2022 Katie McGrath will succeed Ivan as Regional CEO for Swiss Re Corporate Solutions in North America Russell Higginbotham, chief executive officer Reinsurance...
China weighs exit from ‘zero COVID’ and the risks involved
Studies of Chinese vaccines suggest they offer significantly less protection against infection from omicron, even after three doses, than a booster shot from a Western vaccine using mRNA technology. A Chinese mRNA vaccine is still in trials One major reason China is...
Japan manufacturers restart some of the northeast’s quake-hit plants
Renesas Electronics Corp, which makes nearly a third of the microcontroller chips used in cars globally, said a stop on two factories and a partial stop on a third remained in place Tokyo: Japanese manufacturers began restarting production at some of the plants that...