After an extended period of rate increases across the (re)insurance...
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LIC remains 4th largest global life insurer in S&P’s latest ranking
Published a week back, S&P has Allianz SE, ($807 billion,...
Brazil says workers at China’s BYD site are victims of human trafficking
The investigation also brings unwelcome attention to BYD when it is...
Over 229 million construction workers to benefit from new code of practice on safety and health:ILO
Key revisions introduced to the code of practice underline the importance of Occupational Safety and Health (OSH) management systems, maternity protection and waste and emissions management ILO:More than 229 million construction workers around the globe may benefit...
Russian cyberattacks may test insurer war exclusion policy language: Fitch
Larger insurers have taken significant pricing and underwriting actions in response to rising cyber claims in recent years, including tightened contract language, which should help mitigate underwriting losses in the current uncertain environment, Fitch Ratings says...
Space junk on 5,800-mph collision course with moon
The leftover rocket will smash into the far side of the moon at 5,800 mph (9,300 kph) on Friday, away from telescopes' prying eyes. It may take weeks, even months, to confirm the impact through satellite images The moon is about to get walloped by 3 tons of space...
AIG commits to Net Zero Greenhouse Gas emissions across its underwriting & investment portfolios by 2050
“Leading change in a changing world requires being a company of action – and, as a market leader, AIG is committed to setting the standard with our actions. We believe today’s ESG commitments are an important step forward for AIG, the clients we serve and the global...
AM Best downgrades Russian insurers Ingosstrakh and SOGAZ
These credit ratings have been placed under review with negative implications due to heightened geopolitical, economic and financial system risk in Russia, where both Ingosstrakh and SOGAZ is domiciled and underwrite the majority of their business, said AM Best...
Russian ransomware attacks on Ukraine muted by leaks, insurance woes
One reason for that could be a loophole in cybersecurity insurance policies. Experts and industry-watchers say the more sophisticated digital extortion gangs tend to focus on insured organisations because the victims already have a policy to make the payoff, making...
Tata cancelled USD 3 billion deal in Bangladesh over bribery issue
Dhaka: Indian conglomerate Tata in 2005 cancelled USD 3 billion deal after Bangladesh Nationalist Party (BNP) leader Tarique Rahman placed a bribery deal to the Indian company. Prime Minister Sheikh Hasina's ICT Advisor Sajeeb Wazed Joy in a post from his verified...
Number of ultra HNIs in India up 11% in 2021 at 13,637: Report
"In India, the number of UHNWIs (net assets with USD 30 million or more) has grown by 11 per cent YoY (year-on-year) in 2021, the highest percentage growth in APAC," Knight Frank said in a statement. The number of UHNWIs in India grew to 13,637 in 2021 from 12,287 in...
UN climate report urges world to adapt now, or suffer later
While governments need to drastically curb their emissions to prevent runaway global warming, they can also work to limit suffering by adapting to the conditions of a warmer world, the report says. That will take a lot of money - to finance new technologies and...
Ukraine Invasion: Russia’s ultra-rich count cost of $83 bn wealth wipeout
Russia’s $1.5 trillion economy is already reeling from sanctions that targeted key banks and may prevent Putin from accessing the bulk of more than $640 billion in central bank reserves. Those restrictions have roiled the nation’s markets and are having a knock-on...