The business will become part of Millstream Underwriting, which has...
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Willis makes new leadership appointments in Asia
These changes and new leadership roles recognise the significant...
Sompo aims at higher-yielding overseas credit to boost profits as traditional business flounders
Globally, private credit has grown into a $1.7 trillion market....
Swiss Re 2023 net profit surges almost six times, in line with expectations
"We achieved all our financial targets in a year that was characterised by geopolitical turbulence and continued economic uncertainty. Improved price adequacy in our property and casualty businesses following strong renewals and our underwriting discipline helped us...
India’s small exporters reel as Red Sea crisis helps rivals nab business
Many suppliers sign export deals on a cost, insurance and freight basis, making them responsible for any increases in freight and insurance costs New Delhi: Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost...
World bank and Fathom tie-up for free flood data access for 16 climate vulnerable countries
These countries are among the most vulnerable to climate change, such as Pakistan, Somalia, and Yemen, which often struggle with limited data resources London: UK based Global flood risk intelligence leader Fathom, which was recently acquired by Swiss Re, has tied up...
Canada’s Fairfax denies Muddy Waters’ short report in expanded rebuttal
Fairfax said Muddy Waters neither called it nor wrote to it, and instead released the report during its quiet period with its “one-sided, ill-informed allegations and insinuations in a transparent attempt to profit by short selling our stock.” Fairfax Financial on...
ACORD announces new global advisory council to drive industry-wide collaboration and digitalisation
“With the accelerating pace of digital transformation in our industry, the formation of the ACORD Global Advisory Council is a timely and significant step towards increasing collaboration and alignment within leading insurance markets around the world. I look forward...
Gallagher appoints Sneha Gokarn as its new CEO for India
Sneha Gokarn, CEO and principal officer of Gallagher, India ``Sneha, who has been a board member and executive director of our business a number of years has extensive experience in both the Indian insurance market and Gallagher, and we are delighted Sneha will be...
Marine insurers continue to support trade in the Red Sea & Black Sea
The impact on Suez Canal transits and global supply chains are significant but this has not affected the ability of the marine insurance market to provide adequate cover – both for Red Sea/Suez Canal transits or for the longer route around the Cape of Good Hope,...
Maruti Suzuki may see some increase in costs due to Red Sea crisis
Similarly, the situation in the Red Sea is creating supply chain issues for German luxury carmaker Audi, impacting car deliveries to customers in India in the first quarter but recovery is expected in the coming months, according to a senior company official. New...
Britain’s financial regulators need ‘ambitious mindset’, says industry leader
“At Lloyd’s, we have the capacity and expertise to evaluate and approve a new underwriting syndicate within 30 days, but the external regulators require many months more before making a decision, causing businesses to set up outside the UK,” said Carnegie-Brown,...
Govt and ADB sign $200 million loan to tackle flood and erosion risk along Brahmaputra river
“Through the project, ADB continues to pursue its cost-effective, adaptive, and systematic river stabilisation approach to managing the Brahmaputra river. While deploying riverbank protection technology, ADB will also continue to build the capacity of state agencies...