The advisory follows an unnerving incident on Oct. 30 involving a...
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AIG to pay Neal $2.7 million to compensate for “foregone incentives”
John Neal, forner CEO, Lloyd's AIG withdrew its employment offer to...
Sri Lanka shuts offices, schools as 56 killed due to floods and landslides
More than 25 people were killed Thursday in landslides in the...
Russian air-defense system downed Azerbaijan plane, sources say
One of the Azerbaijani sources familiar with Azerbaijan's investigation into the crash told Reuters that preliminary results showed the plane was struck by a Russian Pantsir-S air defence system. Its communications were paralysed by electronic warfare systems on the...
Cat-bond issuance hit a record $50 billion in 2024
Cat bonds continue to pay out more than many fixed-income assets. This year, investors are on track to earn returns of 16%, compared with a record 20% in 2023 Catastrophe-bond issuance rose to a record this year, increasing the overall market to almost $50 billion, as...
Plane with 67 passengers crashes in Kazakhstan, many killed
According to Russian news agency Tass, 32 people have survived the passenger plane crash near Aktau in Kazakhstan, the press service of the Kazakh Emergencies Ministry reported ASTANA: A passenger plane crashed near the city of Aktau in Kazakhstan on Wednesday and...
European Central Bank plans insurance for climate risks
One part of the plan is a voluntary public-private reinsurance mechanism that would pool private risks across the EU to help backstop weather-related losses. The second pillar would be to create a mandatory European Union fund to pay reconstruction costs when...
Insurance technology firm bolttech raises $100 million to fund global growth
Founded in 2020, bolttech operates a digital platform where insurers, distributors and customers buy and sell insurance and protection products in more than 35 markets across North America, Asia, Europe and Africa, according to its website Singapore:...
Liberty Mutual considers selling its Thailand and Vietnam businesses
A move to sell Thailand and Vietnam would follow other previous disposals from Liberty Mutual globally Liberty Mutual Holding Co. is considering a sale of its businesses in Thailand and Vietnam as the US insurer seeks to streamline its operations, according to people...
Fed lowers rates but sees slower pace of further cuts, firmer inflation
U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025 WASHINGTON: The U.S. Federal Reserve cut interest rates on Wednesday and signaled it will slow the pace at which borrowing costs fall any further,...
Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says
Singapore's prime minister said in October that the city-state would block Allianz's bid The move would have lifted Allianz to fourth largest composite insurer in Asia, from ninth, but sparked critique in Singapore because of concerns that it would detract from a...
Lockton unveils new global Parametric Insurance Practice
The parametric insurance market is projected to reach $39.3 billion by 2032, according to Global Market Insights, underscoring the demand for alternative solutions to cover gaps in conventional commercial property insurance KANSAS CITY: Lockton, the world's largest...
Meta outage hit Facebook Instagram WhatsApp
Meta’s outage is a timely reminder of the need to engineer critical systems to maximise their reliability, including minimising central points of failure and employing engineering principles like fault isolation Melbourne: A major outage is affecting users of popular...