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Munich Re posts better-than-expected profit amid low loss claims
`We deliberately opt not to take on business where prices would not...
Proposed Hormuz passage deal not feasible for shipping industry, sources say
Ships sailing through the strait need to pay an additional war risk...
Record-low Danube levels expose shipwrecks
Danube levels fell to record lows this week in Croatia and Serbia, exposing hundreds of square kilometers of sand banks, following the summer’s prolonged heatwaves and drought that have affected waterways across Europe. Dozens of boats in a marina in Serbia’s northern...
Saudi Arabia-bound Supertanker U-turns before Houthi chokepoint
It’s not clear what exactly prompted New Champion’s U-turn. Some providers of shipping insurance have in recent days been unwilling to offer coverage for any vessels calling at Saudi Arabia due to the risk of attacks, according to ship and insurance brokers. A Hong...
Why El Niño’s promise of quieter Hurricane Season may not be good news for insurers
“All it takes is one landfalling hurricane to create an insured loss of a magnitude we’ve never seen before … And that could absolutely happen in an El Niño year,” said Kimberly Roberts, advisory leader of North American peril at reinsurance broker Guy Carpenter For...
Aon launches AI Risk Diagnostic to help organizations understand and manage AI risk
"Artificial intelligence is creating significant opportunities for organizations, but it is also introducing new and increasingly complex risk considerations across governance, compliance, operations and resilience," said Richard Waterer, Aon Global Risk Consulting...
Allianz to acquire HSBC’s Singapore insurer in $2.1 billion deal
“Singapore serves as our Asia-Pacific headquarters and is central to our global growth strategy,” Baete said in the firm’s release on Friday. Singapore “is a nation that cares deeply about the well-being of its people.” Allianz SE agreed to buy HSBC Holdings Plc’s...
India, Middle East, and African re/insurance markets witness decline in rates across all lines in Q22026
Pricing for general liability varied by region, with India and the United Arab Emirates seeing the largest declines. Mumbai:India, Middle East, and African re/insurance markets have witnessed a decrease in rates across all lines in the second quarter of 2026, said a...
UK’s Bloomsbury among beneficiaries of $1.5 billion Anthropic copyright lawsuit settlement
The settlement is the largest known copyright payout in U.S. history. The dispute reflects the intensifying legal battle over how generative AI models are trained. AI developers, including Anthropic, have argued that using publicly available copyrighted material...
Aon reports $111 billion global catastrophe losses in H1, Insured events above average
Among the period's defining events were the Venezuela earthquake (preliminary $20-30 billion economic loss), Portugal's costliest windstorm on record ($4.4 billion economic loss) and an active SCS season across the U.S. ($34 billion economic loss). Together, these...
OpenAI Models hacked another company’s systems by mistake
“We consider this to be an unprecedented cyber incident, involving state-of-the-art cyber capabilities, and are responding accordingly,” OpenAI said in the blog post. “We are sharing preliminary findings at this stage to help defenders understand what happened and to...
Lloyd’s finds former CEO John Neal breached compliance rules over undisclosed relationship
John Neal, former CEO Lloyd's of London An investigation found that Neal failed to disclose the relationship with the group’s former corporate affairs director Rebekah Clement even after concerns were raised by colleagues, according to a statement Wednesday....