Trade Minister Zulkifli Hasan told reporters the regulation, which...
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Legal fog over central bank digital currencies “unacceptable”, BIS warns
Some 11 countries have already launched them and next month the...
Ship insurance facility set up for Ukraine grain exports, says broker Miller
London-headquartered Miller said it had teamed up with British...
EU regulators to weigh If antitrust rules fit for today’s global, digital markets
“Changes like globalization and digitisation mean that many markets work rather differently from the way they did, 22 years ago,” Vestager told a Chillin Competition conference.
Cyclone Bulbul’s total economic losses estimated at over $3.3 bn:Aon
. Chicago: Aon plc’s monthly Global Catastrophe Recap report reveals that flooding and inland storms led to multi-billion-dollar economic loss in western and southern Europe during the month. Italy suffered the majority of losses as an active stretch of...
California puts one-year halt on insurers dropping customers in wildfire-prone areas
The moratorium, which ends Dec. 5, 2020, is meant to draw insurers and state legislators to the negotiating table to find a solution to the state’s wildfire insurance dilemma.
U.K. investment firm Centricus forms insurance venture with Ex-Goldman partner
Centricus is targeting for the business to manage about $100 billion of assets under management for the unit and is already scouting for deals in Europe, co-founder Dalinc Ariburnu said in a phone interview Thursday.Centricus is seeking to replicate the model that Apollo Global Management Inc. created with Athene Holding Ltd., Ariburnu said.
Uber received 3,000 reports of sexual assault in U.S. in 2018
It said it received 235 reports of “non-consensual sexual penetration” last year and 280 of “attempted non-consensual sexual penetration” – nearly all filed by women. The remaining assault reports included incidents of unwanted kissing or touching of body parts.
In its biggest deal, Phoenix to buy Swiss Re’s ReAssure unit for $4.1 bn
The deal is the latest in a rapidly consolidating sector as many insurance companies, hit by tougher capital rules since the financial crisis, seek to sell old books of business to free up capital to invest in high-growth areas.
Pirates Hijack Fully Loaded Supertanker Off Nigeria, Kidnapping 19 Crew
The waters of the Gulf of Guinea have suffered from sporadic incidents of piracy for a few years, but an attack on a supertanker is a rare event. Nigeria suffered a spate of militancy that crippled its oil industry in 2016, but it rarely strayed into shipping.
Saudi Aramco pursues war cover after attacks – sources
Aramco, the world’s largest oil company, has been looking for cover from insurers including those based at Lloyd’s of London and elsewhere in the London market.Available insurance options range from cover against a terror attack or sabotage through to full coverage, which includes war or civil war, along with compensation for the cost of business
Over two-thirds of firms have suffered a political risk loss: Willis Towers Watson survey
Most respondents (71%) stated that the emphasis on political risk management at their company had increased since 2018, and nearly 40% felt that they were facing more pressure from investors regarding political risk management. The survey found that recent developments such as the China-US rivalry and the sanctions that have arisen as a result have made political risk more tangible.
Insurer estimates $2.5 trillion price tag for 10-year fight against climate change
The German insurer analyzed the most important measures currently enacted or under discussion to rein in global warming and found that the energy sector alone will be hit with an additional cost of $900 billion. Further emissions cap reductions or industrial regulations could increase that amount.