John Neal, former CEO, Lloyd's Recent instances have felled CEOs at...
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Lloyd’s investigates its former CEO John Neal
John Neal,former chief executive officer,Lloyd's Lloyd’s Chairman...
GIC Re pays Rs 1,445 crore of dividend to govt in FY24-25
(L to R) - V. Balkrishna, CFO, GIC Re, Parshant Kumar Goyal, joint...
How Houthi attacks on ships in the Red Sea are affecting global trade
In fact, 40% of Asia-Europe trade normally goes through the area, including a huge amount of energy supplies like oil and diesel fuel for import-dependent Europe, said John Stawpert, senior manager of environment and trade for the International Chamber of Shipping,...
Crude oil prices rise after US, UK attack Houthis
The Houthis attack is forcing ships to take a far longer route around Africa and can cause insurance costs to rocket. Companies can pass on the increased cost of moving their goods to consumers, raising prices again at a time when governments around the world have...
Higher shipping freight rates to offset costs of re-routing from Suez:Fitch
The Red Sea disruptions amplify the impact on global trade from the Panama Canal congestion, caused by drought conditions that have almost halved the number of vessels using the waterway. Bulkers carrying agricultural commodities and tankers are most affected by the...
London mayor says Brexit has cost UK over $178 billion so far
Britain's National Institute of Economic and Social Research (NIESR) estimated in November that Brexit had reduced the size of the economy by 2%-3%, with the impact expected to rise to 5%-6% by 2035 LONDON: Britain's departure from the European Union has reduced the...
2023- Record heat, worsened droughts, floods and bushfires around the world
Some 77 countries experienced their highest average annual temperature in at least 45 years. Temperature records were shattered from Canada to Brazil, Spain to Thailand Professor Albert van Dijk,Fenner School of Environment & SocietyAustralian National University...
Misinformation biggest immediate risk for India world extreme weather top long-term threat WEF study
On a short-term horizon of two years, the report identified 'misinformation and disinformation' as the biggest risk, followed by extreme weather events, societal polarisation, cyber insecurity and inter-state armed conflict in the top five LONDON: With close to 300...
FSIB kickstarts exercises to appoint 9 EDs in PSU general insurance companies
FSIB has shortlisted a few of GMs who were promoted in FY2022-23 and also in FY 2023-24, though they have not completed one year in the posts New Delhi: After deciding to convert the posts of general mangers and director(GMDs) into executive directors(EDs), the...
EV sales jumps 49% to 1.52 million units in 2023: Fada
The EV industry had recorded a total sales of 10,25,063 units in 2022, as per the data. New Delhi: Electric vehicle sales in India jumped 49.25 per cent year-on-year to 15,29,947 units in 2023, according to a data released by the Federation of Automobile Dealers'...
Record thunderstorm losses and deadly earthquakes in 2023, says Munich Re
Thomas Blunck, member of the Board of Management, Munich Re Worldwide, natural disasters in 2023 resulted in losses of around US$ 250bn (previous year US$ 250bn), with insured losses of US$ 95bn (previous year US$ 125bn). Overall losses tally with the five-year...
India’s exports may take a $30 billion hit on Red Sea disturbances
Higher global freight and insurance rates, possible upside risk to oil and global trade and re-emergence of potential supply chain would mean cost push inflation pressures New Delhi: India may see around $30 billion shaved off its total exports in the current fiscal...