“Due to the current geopolitical situation, vessels which do not...
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S&P assigns first-time A- Long-term Issuer Credit and Financial Strength Ratings to Peak Re, Outlook Stable
Victor Kuk, chief executive officer of Peak Re, commented: “We are...
FM announces $855 million resilience credit to support investment in risk reduction
“For two years in a row, we’ve been able to provide an enhanced 10%...
Gallagher Re flags AI risks, catastrophe shifts and softer reinsurance market in APAC
Non-life premium growth across the region slowed to 5.1% from 7% in 2024, its lowest level since 2021, reflecting softer pricing in mature markets and portfolio rationalisation. Singapore: Asia-Pacific’s insurance industry continues to offer substantial growth...
S&P affirmsd its ‘A-‘ long-term issuer credit and financial strength ratings on India International Insurance Pte
``While India International plans to expand cautiously in cargo and property lines, we do not expect this to materially alter the premium mix or weaken its risk profile.In our view, rising geopolitical tensions and supply-chain disruptions will moderate India...
PHP vulnerabilities raises concerns of systemic event for cyber insurers
A significant gap between economic and insured losses is expected in this event, highlighting the importance of cyber insurance. In addition, insured losses may extend beyond cyber into directors and officers insurance as regulatory and governmental bodies in the...
WTW ordered to pay Rs3.67 cr to former employee in whistleblower retaliation case
The award includes ₹3,67,97,082 in special damages and ₹10 lakh for the mental agony, anguish and harassment suffered by Midha. The company has been directed to make the payment within 30 days of the judgment. In a separate development, Judge Shirin Javeed Ansari...
BPCL to cut Russian crude purchases as freight costs erode price advantage
BPCL, which sourced about 37 per cent of its crude from Russia in the July-September quarter, has continued to diversify its procurement as geopolitical tensions disrupt shipping routes and push up freight and insurance costs. The company has nevertheless secured...
Ship attacks in Strait of Hormuz hit record high in October
Raydan, who maintains the institute's interactive shipping incident map, has recorded 28 confirmed and reported attacks in the Strait of Hormuz and surrounding waterways in October and 113 since the US-Israeli war with Iran began on February 28. OSLO: October has...
Global insured Nat CAT losses fall to lowest 9-month level since 2019: Gallagher Re Report
Q3 also marked the sixth consecutive quarter without an individual natural catastrophe generating more than USD10 billion in insured losses. This comparatively favorable loss experience has supported strong industry earnings, robust capital positions and substantial...
Europe’s Summer Toll: 50,000 deaths and a €17 billion GDP hit
“We often see elderly patients become confused or have strokes or have cardiac-type events where heat may have made a significant contributing factor to the death,” said Andrew Hartle, an intensive-care consultant at Imperial College Healthcare NHS Trust, in a press...
Led by property, India, Middle East, and Africa see rates decrease in Q3, says Marsh
Insurance rates in the third quarter decreased 14% in the IMEA region, the highest across all regions. No major losses were reported across major insurance lines. Singapore: Rates continued to vary significantly by market, with the steepest reductions in India and...
China’s natural disaster losses hit $30 billion in first nine months of 2026
Geological hazards, which include rain-triggered landslides and mudslides, caused the highest proportion of fatalities and made up 60% of all disaster types, while typhoons caused the largest amount of direct financial damage, the ministry said. HONG KONG: China...