International carriers’ operations to Dubai are growing but some...
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Houthis escalate pressure, Announce planned maritime blockade of Saudi Arabia
A disruption to supplies through the Red Sea, the route currently...
Red Sea war insurance costs rise after Houthi blockade, sources say
Indicative war risk premiums rose to around 0.75% of the value of...
Iran and US widen attacks, raising fears for Gulf shipping and water supplies
Oil prices briefly jumped above $90 a barrel after renewed disruption to shipping through the Strait of Hormuz, but later pared gains after Iran’s Foreign Ministry said mediators had recently presented proposals to Tehran, signaling that diplomatic contacts remain...
Aon expands Data Center Lifecycle Insurance Program to $5 billion
"Digital infrastructure has become one of the most important and capital-intensive asset classes in the global economy.As clients build larger and more complex data center portfolios, they need access to greater insurance capacity alongside solutions that strengthen...
Passenger partly sucked out of Ryanair’s Boeing 737-800 plane after cabin window dislodges
Boeing has said it was assisting the investigation led by North Macedonia, over which the incident occurred. The U.S. National Transportation Safety Board and the European Union Aviation Safety Agency are involved in the probe.A Greek prosecutor has launched a probe...
Iran declares interim deal with U.S. on hold as conflict deepens
The US has violated its commitments under the deal that was signed about a month ago and now Iran is "no longer implementing them," Kazem Gharibabadi, Iran's deputy foreign minister, told state TV. The United States and Iran exchanged strikes aimed at infrastructure...
Allianz Jio Re writes Rs266 crore of prm in maiden qtr, AGCS India to shift its business to JV
``We assure clients of uninterrupted service, continuity of coverage and consistent relationship management, as the existing facultative reinsurance portfolio from Allianz Commercial / Allianz Global Corporate & Specialty (AGCS) will be transitioned to Allianz Jio...
UK unveils rules to establish Captive Insurance regime
The Bank of England and the Financial Conduct Authority laid out plans for a captive insurance regime, according to a statement Tuesday. Captive insurers are entities set up by companies or public institutions that provide their own cover. The UK has proposed rules to...
China braces for unusually active Typhoon season after Bavi
In its latest midsummer outlook, the National Climate Centre forecast that as many as six tropical cyclones would hit China this summer, a higher number than average. These storms “are expected to be strong overall” and to affect mainly coastal areas of southern and...
UK to bring cloud service providers under direct financial regulation
“As banks, insurers and financial market infrastructures become increasingly reliant on cloud services, disruption at a major supplier could affect multiple firms at the same time, potentially impacting services customers depend on,” the government said in a statement...
ICICI Lombard Q1 PAT slumps 46% to Rs 403 crore on fire losses, Supreme Court Motor TP ruling
Sanjeev Mantri, MD & CEO, ICICI Lombard General Insurance The company said the quarter's combined ratio included the impact of two large fire losses amounting to Rs 63 crore, which added 1 percentage point to the ratio. In addition, a recent Supreme Court...
El Niño poses weather-driven credit risks for LatAm transportation
The Panama Canal is exposed to specific hydrological risk, as reduced rainfall in the Gatún Lake watershed could again lower water levels, leading to draft restrictions and revenue pressure. Fitch Ratings says El Niño poses broad weather-related risks for Latin...