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Zurich Insurance offers $10 billion to buy UK insurer Beazley
Switzerland's Zurich said the offer it had gone public with on...
2025 among world’s three hottest years on record,WMO says
The WMO, which consolidates eight climate datasets from around the...
US spends nearly $1 trillion on disaster recovery and other climate-related needs over last one year
Overall, increased climate costs from insurance premiums, power outages, disaster recovery and uninsured damage are responsible for $7.7 trillion, or 36%, of US GDP growth since 2000. Risks are rising both from climate change, as it increases the severity and...
Central banks favour gold over dollar for reserves, WGC survey
"Gold’s performance during times of crisis, portfolio diversification and inflation hedging are some key themes driving plans to accumulate more gold over the coming year," WGC LONDON: Central banks around the world expect their gold holdings as a proportion of their...
Air India’s Ahmedabad crash claim likely to hit around $475 million, liability losses can touch $350 million, says GIC Re
As surveyors and lawyers from London, appointed by reinsurers of Air India policy, are now camping in Ahmedabad to take stock of devastation and prepare various loss reports including Hull and passenger liability so that re/insurers will start paying...
Tesla’s public robotaxi rides set for tentative June 22 start, CEO Musk says
Commercialising autonomous vehicles (AV) has been challenging with safety concerns, tight regulations and soaring investments, and many have been skeptical of Musk's plans SAN FRANCISCO: Tesla tentatively plans to begin offering rides on its self-driving robotaxis to...
Ships warned to avoid Red Sea, log Hormuz voyages after Israel hits Iran
“We have reports that more ship owners are now exercising extra caution and are opting to stay away from the Red Sea and the Persian Gulf,” said Jakob Larsen, chief safety & security officer with shipping association BIMCO. Merchant shipping is continuing to pass...
India crash a wake-up call for aviation industry, alerts Airbus
“Safety is in everything that we do, so the tragedy in India, we don’t see that in any way, shape or form as a competitive input,” Christian Scherer, who oversees Airbus’s commercial aircraft operation, said at a press meeting in Paris. “It is, if anything, a reminder...
Over 1 100 787s Dreamliners criss-crossing skies a flight path of connectivity, now a crash
A few years back, the US watchdog Federal Aviation Administration (FAA) had stopped deliveries of the Dreamliners due to certain issues but the plane was never involved in any fatal crash till Thursday New Delhi: The Boeing 787-8 Dreamliner, known for its advanced...
Extreme heat kills half a million people globally each year, says Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist "Extreme heat used to be considered the 'invisible peril' because the impacts are not as obvious as of other natural perils," says Jérôme Haegeli, Swiss Re's Group Chief Economist. "With a clear trend to longer, hotter...
With India push, global commercial aircraft fleet size to double to almost 50,000 planes over the next 20 years
The global in-service fleet will swell by 24,480 units to 49,210 aircraft in 2044, Airbus predicted in its latest global market forecast that includes both its own planes and those of rivals like Boeing Co. Most of the growth will come from single-aisle aircraft like...
Missiles, drones and proliferating conflict zones increasing burden on airline operations and profitability
Airlines are racking up costs and losing market share from canceled flights and expensive re-routings, often at short notice. The aviation industry, which prides itself on its safety performance, is investing more in data and security planning Proliferating conflict...