That brought SMBC’s total recoveries from claims following the...
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Global loss of tropical and boreal forests surge to a record high in 2024
All of this is occurring after the hottest year on record, with...
Japan’s 3 major casualty insurers plan to sell $9.5 billion of cross-held shares
Eliminating cross shareholdings is seen by many as a yardstick for...
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...
Google holds illegal monopolies in ad tech, US judge finds
The ruling could allow prosecutors to argue for a breakup of Google's advertising products. The U.S. Department of Justice has said that Google should have to sell off at least its Google Ad Manager, which includes the company's publisher ad server and its ad...
China bans ‘smart’ and ‘autonomous’ driving terms from vehicle ads
Analysts and industry sources cautioned stricter regulations would increase costs and slow the pace of technology development and adoption. But it could also accelerate a long-overdue consolidation in China’s crowded auto industry that has been grappling with...
US cyber insurance premium shrinking to continue: Fitch
The cyber insurance line was profitable for 2024, but direct written premiums fell for the second straight year due to declining rates and fewer policies in force U.S. cyber insurance renewal premium rates have fallen YoY for the last three quarters and are...
In landmark ruling, UK’s top court says legal definition of woman refers to biological sex
The much anticipated ruling centred on whether a trans woman with a gender recognition certificate (GRC), a formal document giving legal recognition of someone's new gender, is protected from discrimination as a woman under Britain's Equality Act LONDON: Britain's...
Near misses, fatal crashes force airlines to confront US worried fliers
“You shouldn’t be scared to get on an airplane, but you should be concerned about the future of our air traffic control system,” said Samuel Engel, a senior vice president of ICF Inc. “We are behind on critical investments and we have an unsustainable funding strategy...
Challenges from tariff uncertainty likely credit negative for insurers: AM Best
"Insurance companies have financial exposure to public equities — more so for P/C companies—whose decline will lead to unrealized losses and ultimately, declines in capital.There are 166 P/C insurers that have more than 25% of their assets allocated to equities," said...