In an apparent reaction to the U.S. election and the intensifying...
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Spain floods to trigger total insurance losses in excess of $3.8 billion, will have limited impact on local re/insurers
Another rating agency S&P has said the catastrophic flash...
New leaders at Hannover Re: Clemens Jungsthöfel to succeed Jean-Jacques Henchoz as CEO from 1 April 2025
Clemens Jungsthöfel , CFO and CEO designate, Hannover Re Further...
93 countries adopt the first global agreement on the Ethics of Artificial Intelligence
“The world needs rules for artificial intelligence to benefit humanity. The Recommendation on the ethics of AI is a major answer. It sets the first global normative framework while giving States the responsibility to apply it at their level. UNESCO will support its...
Apple warns Thai activists “state-sponsored attackers” may have targeted iPhones
The messages warned “if your device is compromised by a state-sponsored attacker, they may be able to remotely access your sensitive data, communications, or even the camera and microphone.” Apple on Tuesday filed a lawsuit against Israeli cyber firm NSO Group and its...
WHO discusses new Covid variant with ‘unusual’ mutations in Southern Africa
“It is not surprising that a new variant has been detected in South Africa,” NICD Acting Executive Director Adrian Puren said in the statement. “Although the data are limited, our experts are working overtime with all the established surveillance systems to understand...
Generali enters exclusive talks to buy Credit Agricole’s La Medical
Italian major Assicurazioni Generali SpA entered into exclusive talks with French banking major Credit Agricole CAGR.PA to buy the bank's health insurance unit La Medicale, both companies said in a joint statement on Wednesday. Generali would also buy the...
Higher ransomware claims push up USA CYBER PRICES
Cyber once again saw a record increase in premiums in Q3 2021, at 27.6%. Respondents agreed that one of the primary drivers behind these increases was the rise in cyberattacks, specifically ransomware, phishing, and social engineering attacks. Cyber had been...
Wall Street’s $22 Trillion Ticking Carbon Time Bomb
Banks in Turkey, Russia, Indonesia, India and China are most exposed to carbon-transition risk, with three sectors—manufacturers, transportation companies, and power producers and other utilities—accounting for more than 75% of the potential bad loan exposure, Moody’s...
Singapore’s DBS suffers second day of online banking disruption
Singapore is the biggest retail and wealth management market for DBS, which also has operations in places including Hong Kong, Indonesia and India. Singapore: DBS Group Holdings Ltd , Southeast Asia's largest bank, is facing disruptions in its online banking services...
JPMorgan named most important bank to health of world’s financial system
Being included in the table means having to hold additional capital and undergo more intense supervision to avoid a repeat of taxpayer bailouts in the banking crisis over a decade ago. In practice, the lenders typically hold capital buffers that are already above FSB...
$1.3 trillion of Asian wealth set to change hands in succession planning
Of the more than 1,000 publicly-listed family-owned or founded companies tracked by Credit Suisse globally, the clans of Asia dominate, with a combined market value of about $5.8 trillion. The total wealth of India’s family empires is valued at some $1.5 trillion...
General insurance industry in Singapore to reach $4.2bn in 2025:GlobalData
An analysis of GlobalData’s Global Insurance Database reveals that motor insurance was the largest general insurance line in Singapore with a GWP share of 25.8% in 2020. Electric vehicles sales grew by over 80% during September 2020–2021, supporting the demand for...