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Hurricane Melissa triggers 100% payout of $150 million World Bank Catastrophe Bond for Jamaica
Catastrophe insurance backed by catastrophe bonds are part of the...
Willis launches Data Centre Practice in Asia
The Data Centre sector in Asia is experiencing unprecedented...
APAC reinsurers’ stable pricing in 2024 backed by adequate capacity, says Fitch
``We believe reinsurers can maintain profitability through rigorous risk selection and disciplined pricing amid rising competition, regulatory changes, climate impact and economic risks,'' said Fitch Jakarta: The APAC reinsurance market’s pricing in 2024 is stable due...
Climate change to have severe impact on health emergency services globally: Study
Across all the focus group responses, the top three major risks were pollution, flooding and heatwaves. Three minor risks were cold spells, wildfires and vector-borne diseases, such as malaria Copenhagen: Climate change is likely to have a severe impact on health...
Bridge Specialty International completes acquisition of Singapore-based Acorn International Network
Tim Coles, Chief Executive Officer of Bridge Specialty International, said: “This acquisition establishes us in the Singapore insurance market, further expanding our Asia presence and enabling us now to build a leading wholesale and specialty hub in the region. David...
US sanctions Indian company for involvement in ‘Ghost Fleet’ transporting Iranian oil
Under the sanctions imposed on Gabbaro, all property and any in which it has interests are frozen in the US and this applies also to persons or entities with more than 50 per cent interest in the company, the State Department notification said New York: The United...
‘Severe’ solar storm arrives at Earth
This storm could impact ongoing recovery efforts for hurricanes Helene and Milton in several critical ways, including communication disruptions, power grids stress, and degraded GPS services, according to NOAA Los Angeles: A powerful solar storm arrived at Earth on...
Hurricane Milton leaves at least 10 dead, millions without power in Florida
More than 3 million homes and businesses in Florida were without power on Thursday morning, according to PowerOutage.us. At least some had already been waiting days for power to be restored after Hurricane Helene hit the area two weeks ago. Hurricane Milton plowed...
Milton’s insured losses will range from $30 billion-$50 billion: Fitch
Milton will push global industry insured losses thus far in 2024 to over $100 billion, which is the fifth consecutive year losses have crossed this threshold. This heightened level of catastrophe losses will likely limit any potential for rate declines in property...
Catastrophe bonds dodge worst-case scenario after Milton
Overall, Icosa Investments AG now sees insured losses in the range of $20 billion to $60 billion, meaning cat-bond investors look to be facing a maximum hit of 4%. On Wednesday, before Milton landed, Icosa warned that a direct hit to Tampa threatened to cause insured...
World’s rivers faced the driest year in three decades in 2023, the UN weather agency says
“Water is the canary in the coalmine of climate change. We receive distress signals in the form of increasingly extreme rainfall, floods and droughts which wreak a heavy toll on lives, ecosystems and economies,” said WMO Secretary-General Celeste Saulo, releasing the...
Lloyd’s of London must stop supporting fossil fuel expansion says NGO
“Lloyd’s will continue to follow government policy and regulatory requirements globally, while remaining committed to support an urgent and orderly just transition and remain agile in response to external shocks,” the emailed statement said. London: The Lloyd’s of...