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Samsung Fire & Marine Insurance to acquire outstanding stake in Canopius with KKR and KIC
Munhwa (Marvin) Lee, Chief Executive Officer & President of...
EU moves to curb addictive social media features and AI Bots
Under a draft of the “Digital Fairness Act” seen by Bloomberg News,...
South Korea’s financial industry hit by a second wave of cyberattacks in a month
Organizations worldwide are also working to patch critical flaws in PHP, an open-source programming language widely used across the internet, amid disruptions that have prompted banks, airlines and governments to take websites offline. South Korea’s financial industry...
US tells ships to avoid unnecessary transits through Hormuz
“Due to the current geopolitical situation, vessels which do not need to transit the area are advised to remain well clear to avoid unnecessary delays to their voyage,” the US Naval Forces Central Command said in an advisory on Wednesday issued via the Joint Maritime...
AI In Action: Netherlands aims to cut around 20% of government jobs over next decade
While private companies have already announced waves of AI-driven job cuts since the launch of ChatGPT in 2022, governments are some way behind. Their AI use “trails the private sector” and initiatives “often remain in pilot phases,” according to a September 2025 OECD...
EU wants countries to draw up plans to deal with warming of 3C
Europe is the fastest warming continent due to climate change and could see average temperatures rise up to 5C by 2100, according to a draft document seen by Bloomberg News. The EU’s 27 member states will be required to come forward with national plans for how they...
S&P assigns first-time A- Long-term Issuer Credit and Financial Strength Ratings to Peak Re, Outlook Stable
Victor Kuk, chief executive officer of Peak Re, commented: “We are pleased that S&P’s first rating of Peak Re is aligned with the strong financial strength ratings we hold from AM Best and Moody’s. It provides further independent recognition of our strong market...
BlackRock’s 15th-annual survey: Inflation risk remains the most cited macro concern for insurers
Mirroring broader headlines across industries, insurers continue to invest in artificial intelligence (AI), as 60% of respondents report at least one scaled or embedded AI use case. Adoption is broad but scaling remains uneven - scaled or embedded applications are...
Guidewire to buy UK insurance AI firm hyperexponential in deal worth up to $2.1 billion
“Insurance is a distinctly complex industry, where the quality of risk decisions has an immense impact on business outcomes. Guidewire and hyperexponential are uniquely positioned to deliver industry-specific AI solutions that will transform commercial underwriting....
FM announces $855 million resilience credit to support investment in risk reduction
“For two years in a row, we’ve been able to provide an enhanced 10% resilience credit—a testament to the work our clients do every day to drive lasting protection.When our clients invest in loss prevention and achieve strong results, our mutual model allows us to...
Gallagher Re flags AI risks, catastrophe shifts and softer reinsurance market in APAC
Non-life premium growth across the region slowed to 5.1% from 7% in 2024, its lowest level since 2021, reflecting softer pricing in mature markets and portfolio rationalisation. Singapore: Asia-Pacific’s insurance industry continues to offer substantial growth...
S&P affirmsd its ‘A-‘ long-term issuer credit and financial strength ratings on India International Insurance Pte
``While India International plans to expand cautiously in cargo and property lines, we do not expect this to materially alter the premium mix or weaken its risk profile.In our view, rising geopolitical tensions and supply-chain disruptions will moderate India...