The escalating tensions will hurt earnings of the firm with...
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Warburg Pincus considers options for Asian insurer Oona
Warburg Pincus and Abhishek Bhatia, a former executive with...
Iran laying mines in the Strait of Hormuz:UK Defense Secretary John Healey
John Healey,UK Defense Secretary The narrowness of the Strait of...
IMF slashes global outlook as White House says trade talks pick up pace
With tariffs on goods coming into the world’s No. 1 economy now at their highest in a century, the IMF projects global growth in 2025 will slow to 2.8%—its poorest showing since the COVID-19 pandemic—from 3.3% in 2024 Worldwide economic output will slow in the months...
Cybercrime costs rose to at least $16 billion globally in 2024, says FBI
The losses—a one-third increase over 2023—were largely driven by low tech scams, such as would-be investors swindled out of money online, or company employees tricked by deceptive emails into wiring large sums to criminals’ bank accounts. Tech support and romance...
Swiss insurers Helvetia and Baloise to merge to create top 10 company
The new group, to be called Helvetia Baloise Holding, will become one of the ten largest insurers in Europe, under what the two companies called a “merger of equals” with an even spread of senior executives and board members Helvetia and Baloise plan to merge to...
Japanese insurer MS&AD plans to invest $5 billion to double U.S. profits
The Tokyo-based casualty insurer has the highest market share in Asia among global firms, but it’s No. 3 among Japanese peers in North America, “so the challenge is how to become the top player there,” said Shinichiro Funabiki,CEO, MS&AD Insurance Group Holdings...
Chubb appoints Janene Blizzard as Head of Accident & Health for Asia Pacific
Based in Singapore, Blizzard will report to Marcos Gunn, Regional President, Asia Pacific, with a matrix reporting line to Daniela Hernandez, Division President for International A&H, Overseas General Insurance Singapore: Chubb announced today the appointment of...
Swiss Re appoints Bernhard Kaufmann Group CRO as Patrick Raaflaub retires
Prior to this role, Bernhard Kaufmann was Chief Risk Officer at NN Group and held various senior leadership roles at Munich Re Group, most recently as Group Chief Risk Officer Zurich: Bernhard Kaufmann has held Chief Risk Officer positions in the re/insurance industry...
Asian scam operations are spreading across the rest of the world, UN researchers warn
UNODC estimates that hundreds of industrial-scale scam centers generate just under $40 billion in annual profits BANGKOK: Transnational organized crime groups in East and Southeast Asia are spreading their lucrative scam operations across the globe in response to...
Snow persistence in Hindu Kush hits 23-year low south Asia’s water security at risk: Report
``To tackle this regional snow crisis and the challenges it creates for long-term food, water and energy resilience, we urgently need to embrace a paradigm shift toward science-based, forward-looking policies and foster renewed regional cooperation for transboundary...
First shockwaves of Trump’s trade tariffs about to hit global economy
“Our new growth projections will include notable markdowns, but not recession.We will also see markups to the inflation forecasts for some countries. We will caution that protracted high uncertainty raises the risk of financial-market stress.”,” IMF Managing Director...
Lloyd’s broker UIB charged by UK over alleged Ecuador bribes
UIB sold reinsurance services to state-backed insurers covering parts of the Ecuadorian public sector, including the state water and electricity companies between 2013 and 2016, the SFO said. The broker is accused of £3 million to intermediaries who then bribed an...