Jérôme Haegeli, Swiss Re's Group Chief Economist, said: "While...
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Houthi militants continued to pound a commercial ship in the Red Sea
“These incidents highlight the Houthis’ disregard for human life,...
Maharashtra govt yet to pay Rs 1,015-crore premium to insurance companies: Minister
Speaking in the legislative council, Agriculture Minister Manikrao...
MS Amlin expands Risk and Compliance functions with key senior hires
LONDON: MS Amlin, the Lloyd’s global (re)insurer, today announces the appointment of Ruth Adamson as Head of Insurance and Financial Risk, and Kevin Ball as Head of Compliance. Joining later this year, both new hires will report to Chief Risk Officer, Vishal Desai. MS...
Hannover Re latest company to leave Net-Zero Insurance Alliance
While Zurich had said it was leaving to focus on helping customers in the transition to a low-carbon economy, Munich Re said it was leaving because of anti-trust concerns The charge that companies in such climate alliances could be guilty of breaking anti-trust laws...
Global Nat Cat economic losses reach $77 Billion in Q1 2023, the highest Q1 total in 12 years, Gallagher Re
Public and private insurance entities covered at least an estimated $22B of that total, resulting in a 72% or $55B protection gap, the portion of the economic loss not covered by insurance The February earthquake sequence in Turkey and Syria accounted for an estimated...
Ransomware attacks, human error as main cause of cloud data breaches in India and worldwide: Report
More than a third (38 per cent) of respondents in India (37 per cent globally) have experienced a data breach in the past 12 months, including 23 per cent (22 per cent globally) reporting that their organisation had been a victim of a ransomware attack Respondents...
Cybersecurity nightmare in Japan can pose global risks
The country produces about 80% of fine chemicals for electronics and dominates the global supply of photoresist, a light-sensitive material that’s used in making semiconductor chips, according to Ulrike Schaede, professor of Japanese Business at the School of Global...
Political Risk loss frequency surges in 2022,Ukraine war delivers widespread financial losses
Looking to the year ahead, Ukraine heads the list of interview panel members’ top risks for 2023, followed closely by decoupling from China and crisis and new regulations in the EU The 6th annual political risk survey produced by WTW, found that an unprecedented 92%...
ICICI Lombard reports 40 pc jump in net income to Rs 437 crore in Mar quarter
Gopal Balachandran,chief financial officer and chief risk officer The key profitability metric, the combined ratio of the company stood at 104.5 in FY23 against 108.8 per cent in FY22. In the March quarter, it was 104.2 against 103.2 a year ago The insurer's...
Electric two-wheeler sales in India rise over two-and-half fold to 8,46,976 units in FY23: SMEV
"In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low-speed e-scooters were at 75,457 units, while those of high-speed e-scooters were at 2,52,443 units. SMEV said,...
Russia threatens West as Turkey seeks grain deal extension
While Russian food and fertilizer exports are not under sweeping Western sanctions, Moscow says restrictions on payments, logistics and insurance industries are a barrier ANKARA: Russia on Friday threatened to bypass the UN-brokered grain deal unless obstacles to its...
Munich Re won’t extend Nord Stream 1 coverage when it expires this year
Sources told Reuters that Allianz and Munich Re were among the European insurers that had previously renewed coverage for the damaged Russian-controlled Nord Stream 1 gas pipeline Munich Re will not proactively extend coverage for the Nord Stream 1 pipeline when it...