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US sanctions Indian company for involvement in ‘Ghost Fleet’ transporting Iranian oil
Under the sanctions imposed on Gabbaro, all property and any in...
‘Severe’ solar storm arrives at Earth
This storm could impact ongoing recovery efforts for hurricanes...
MS Amlin launches its second Asia focussed reinsurance ILS
Phoenix 2 Re has secured USD37.5m of collateralised capacity through a number of Asia-based investors. MS Amlin Asia Pacific worked in conjunction with the Monetary Authority of Singapore (MAS), to establish Phoenix 2 Re, using an insurance-linked securities (ILS)...
France fines Google 150 million euro over cookie breaches
In its statement, the watchdog said it had found that the facebook.com, google.fr and youtube.com websites didn’t allow the refusal of cookies easily, citing Google’s video-streaming platform France’s data privacy watchdog CNIL said on Thursday it had fined Alphabet’s...
Cryptocurrency crime hit record $14 Billion in 2021: Research
Overall cryptocurrency theft grew over five-fold from 2020, with around $3.2 billion worth of coins stolen last year. Around $2.2 billion of those funds, some 72% of the total, were stolen from DeFi sites Crime involving cryptocurrencies hit an all-time high of $14...
Lloyd’s creates ‘Product Launchpad’ to replace the ‘Product Innovation Facility’
The rebrand has been supported by the twenty-five members of the initiative from the Lloyd’s market. With a capacity of £150m, several success stories have emerged, for example: a parametric business interruption product for cloud outages, launched by Parametrix in...
Covid: Hong Kong bans incoming flights from 8 countries, including India
Incoming flights from Australia, Canada, France, India, Pakistan, Philippines, Britain and the United States, including interchanges, would be banned from Jan.8 to Jan 21, Hong Kong leader Carrie Lam told reporters on Wednesday Hong Kong announced a two-week ban on...
Asian factories take Omicron risks in stride, for now
The rising rate of global infections have raised eyebrows among policymakers, with outbreaks in China forcing some firms to suspend production and threatening to disrupt output for memory chip giants like Samsung Electronics a TOKYO: Asia's factory activity grew in...
France detects a new Covid-19 variant called ‘IHU’, 12 infected
The new variant from the lineage named B.1.640.2 is believed to have infected 12 people in the country, according to a yet-to-be peer-reviewed study supported by the French Government French researchers have detected a new Covid variant, probably of Cameroonian...
COVID-19 insured loss of $44 bln is third largest catastrophe loss -Howden
"There's only so much event cancellation coverage out there, there’s only so much civil action coverage out there, and when you get to $40 billion, that's pretty much exhausting what was underwritten,” said David Flandro, head of analytics at Howden London: Insured...
Jan 1 Renewals: Late placements and nat cat losses see mixed outcomes, Gallagher Re
The market appears to have moved on from the Covid-19 claims of 2020 as primary companies’ claims reserves stabilise and reinsurance recoveries start to move through the market with an increasing number being settled Reinsurers have managed to achieve further...
Omicron cases are hitting record highs, but now may have a silver lining
The data, some scientists say, signal a new, less worrying chapter of the pandemic Several factors appear to have made the omicron variant less virulent, or severe, than previous waves of Covid-19. One factor is the virus’ ability to infect the lungs A string of new...