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SCOR and AXA jointly to launch Lloyd’s consortium for ecological restoration insurance
Jean-Paul Conoscente, CEO of SCOR P&C, commented: “Restore...
Korean Re launches operations in India’s GIFT City
JG Won, President & CEO, Korean Re, announcing the launch of...
MS&AD Insurance Group announces merger of two of its non-life insurance subsidiaries
The group aims to establish a system to offer the best products and services to customers by investing accumulated capital into growth areas such as international business, domestic life insurance business, and digital/risk-related services Japanese major MS&AD...
Powerful earthquake rocks Myanmar and Thailand and kills more than 150 people
Rescuers work at the site of a collapsed building after the tremors of a strong earthquake that struck central Myanmar on Friday affected Bangkok, Thailand, (REUTERS) Myanmar’s government said blood was in high demand in the hardest-hit areas. Images of buckled and...
ING first globally important bank to meet climate watchdog
“As the first global systemically important bank with a validated science-based target, ING is showing how large financial institutions can support climate stabilization in the real economy,” Nate Aden, head of Financial Standards at the Science-Based Targets...
Insurers increasingly tap AI to tackle surging Cat losses
Risk experts are increasingly using AI to crack an especially intractable challenge: modeling hailstorms, thunderstorms and tornadoes, collectively known as severe convective storms, or SCS. Insured losses from SCS events totaled $61 billion in 2024, the...
Ravaging South Korea wildfires kill 24 people
“We need to mobilize all available resources in extinguishing the fires for the remainder of the week as it is feared we will experience an unprecedented level of wildfire damage,” Acting President Han Duck-soo said in a national address. “They are breaking records as...
US says Ukraine, Russia agree to ensure safe navigation in Black Sea
The White House said in a statement that Washington would help restore Russia's access to the world market for agricultural and fertiliser exports and would continue facilitating talks on both sides in a bid toward achieving a sustainable peace The United States said...
Singapore general insurance premium rises by 6.3% to S$10.8 billion in 2024, Underwriting profit grows by 5.6% to S$642.31 million
“The general insurance sector is operating in an increasingly complex and fast-evolving risk environment. From climate-related disasters to rising medical costs and economic volatility, insurers today must navigate a rapidly changing landscape,” said Mr. Ronak Shah,...
Fidelis Partnership launches international casualty MGA Sevanta
Sevanta will focus on niche international specialty liability, writing business on both a primary and excess basis across a global portfolio Pine Walk Capital Limited, the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership, is pleased to...
AI buzz on earnings calls in Europe scaling new peaks, spread beyond technology-related sectors
Growing use of AI-enabled tools also meant that the machine-learning technology was mentioned repeatedly on analyst calls of companies in other sectors including recruitment, health care and telecommunications The chatter around artificial intelligence on earnings...
Heathrow airport reopens after blackout shutdown
The financial fallout from the day-long disruption may reach reach between $80 million and $100 million, factoring in costs related to accommodation, food and transportation, as well as broader operational impacts that include rerouting, schedule disruptions and...