Jad Ariss, managing director of the Geneva Association, said,...
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EU needs regulations to manage growing security risks posed by Chinese intelligent vehicles
Intelligent cars, typically electric or hybrid vehicles, allow for...
South Korean insurance majors eye Indian market
Samsung and Hyundai Marine & Fire are interested in potentially...
Lloyd’s human pandemic scenario reveals potential global economic loss of $13.6trn
From an economic perspective, the widespread impacts would be primarily driven by disruption across global industries due to local lockdowns and global travel restrictions. With the transportation sector worth over 10% of global GDP, sustained international travel...
Cat bonds see rapid influx of investors
Plenum estimates that the volume of catastrophe bonds in funds marketed under Europe’s UCITs label has risen roughly 49% since the end of 2022 to $13 billion at the end of September. That’s as overall issuance for 2024 looks set to hit a record $16.5 billion,...
Insurers’ climate losses almost match premiums from fossil fuels
On average, fossil-fuel premiums account for less than 2% of total premiums, raising questions about why insurers aren’t using their immense influence to protect the other 98% of their business from spiraling climate risks Top insurance companies suffered $10.6...
GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit
GM on Tuesday said it would get out of robotaxis “given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market” Detroit: General Motors has said it will retreat from the robotaxi business...
Nippon Life in talks to buy Resolution Life in deal worth $8.2 billion
Cross-border M&A involving Japanese companies has surged this year, driven by amended guidelines designed to encourage takeovers of Japanese firms.Japanese firms also are continuing to look abroad for growth as their domestic market shrinks Nippon Life Insurance...
Arthur J Gallagher strikes $13.5 billion deal to strengthen US insurance broker business
Gallagher follows in the footsteps of rivals Aon and Marsh McLennan, which have also struck $13 billion and $7.75 billion, deals, respectively, over the last 12 months to expand into the vast and fast-growing middle-market insurance business Arthur J Gallagher said on...
UnitedHealthcare CEO’s shooting opens door for many to vent frustrations over insurance
In particular, the words written on ammunition found at the shooting scene — "delay," "deny" and "depose," echoing a phrase used to describe how insurers dodge claim payouts — amplified voices that have long been critical of the industry New York: For years, patients...
Globally, Natcats result in $133bn economic and $ 51bn of insured losses: Munich Re
The costliest typhoon in Asia – and the third-costliest cyclone of the season worldwide – was Typhoon Yagi. It struck the Philippines, the Chinese island of Hainan, and the southern tip of the Chinese province of Guangdong as an extreme storm before making landfall in...
Investigation finds Rio Tinto legacy Bougainville mine poses life-threatening risks
The findings, released in a report on Friday, included "imminent, life-threatening risks posed by the collapsing mine pit, levees and infrastructure," as well as ongoing contamination of the Jaba-Kawerong river Rio Tinto recognises the gravity of the impacts and...
Economic threats continue to overshadow climate and cyber risks
Extreme weather events featured in the G20’s top five risks, as the fifth biggest risk. This follows a year in which many G20 countries – including Brazil, Germany, Indonesia and the U.S. – experienced severe flooding, above-average rainfall, wildfires, extreme heat...