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Global insurance premiums from data centres expected to rise to $24.2 billion by 2030 from $10.6 billion, Swiss Re says
"They're not just buildings, they are highly integrated systems...
Ship insurers juggle war risks for perilous Gulf route
To price war risk premiums, underwriters are considering numerous...
Trump extends deadline for striking Iranian energy plants to April 7
The war has massively disrupted shipping, sending crude oil prices up around 40%, seen liquefied natural gas prices spike, and prices for nitrogen-based fertilizers, critical to food production, rise around 50%. U.S. President Donald Trump said he would again extend...
US insurance program meant for Strait of Hormuz to begin soon:Scott Bessent
Scott Bessent,US Treasury Secretary Although the program was first unveiled March 3, there’s no evidence that any vessels benefiting from the initiative have passed through the strait, a chokepoint for roughly a fifth of global oil and gas flows. Treasury Secretary...
India among 5 nations granted passage through Strait of Hormuz by Tehran
“We have permitted certain countries that we consider friendly to pass through (Strait of Hormuz). We allowed China, Russia, India, Iraq, and Pakistan to transit,” Iranian Foreign Minister Seyed Abbas Araghchi said, according to Iranian State TV. Tehran/New Delhi:...
West Asia Conflict: Risks extend beyond marine into energy, political violence, aviation, trade credit says Howden
Demand for Political Violence and Terrorism cover has risen sharply, particularly among Western operated assets in the Gulf, with pricing multiples increasing and underwriting becoming more selective. Aviation, cyber and trade related lines are also seeing elevated...
Lagos State goes live with Parametric Flood Insurance policy, Protecting up to 4 million people
The parametric flood-risk product was designed by a team of Insurance Development Forum(IDF)member insurance organizations in partnership with the Lagos State Government, including AXA Climate, AXA Mansard in Nigeria, Swiss Re, flood modeler JBA Risk Management,...
Allianz Jio Reinsurance appoints Sonia Rawal as CEO,begins operations
Sonia Rawal as chief executive pfficer, Allianz Jio Reinsurance “Allianz Jio Re is well positioned to provide insurers with innovative and robust risk solutions. The joint venture will support India's insurance sector by combining global technical expertise with a...
Chaucer and Ceto launch Lloyd’s marine MGA, integrating real-time vessel data into underwriting
With the global fleet now averaging more than 22 years of service, vessel age and other uniform parameters in isolation are an increasingly blunt indicator of risk. The MGA's underwriting method aligns insurance capacity more closely with demonstrated performance and...
Foreign ships from friendly countries allowed in Strait of Hormuz, says Iran
Iran has started charging transit fees on some commercial vessels passing the Strait of Hormuz, people familiar with the matter have said, the latest sign of its control over the world’s most important maritime energy route. The war in the West Asia has all-but...
Soft Market:Air India renews its $20 billion cover with just 10% hike despite $475 million claims from Ahemedabad crash
London market sources said AI's premium has just risen by around 10 per cent over the last last year premium when it had paid $30 million covering $20 billion of assets and liabilities for around 300 aircraft. London/Mumbai:Post the Ahemedabad crash, Tata owned Air...
Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said: “Expanding our W&I capabilities across Asia Pacific is a natural progression, as demand for highly technical transactional risk solutions increases. Establishing dedicated underwriting presence in Hong...