That brought SMBC’s total recoveries from claims following the...
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Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost...
EU likely to propose to G7 lowering price cap on Russian oil to $50 per barrel
The G7 price cap was agreed in December 2022, banning trade in...
Global cost of cybercrime may reach $10.5 trillion by 2025: Interpol
Jurgen Stock,Secretary General,Interpol Interpol Secretary General Jurgen Stock said Interpol had developed its global stop-payment mechanism, the Anti-Money Laundering Rapid Response Protocol, which in the past 10 months alone had helped members recover more than $60...
AXIS Capital refuses to underwrite energy, mining and other projects without backing of local indigenous communities
Non-governmental organization Rainforest Action Network (RAN) told Reuters that AXIS was the first North American insurer to adopt such a policy, and believed it set a fresh standard for best practice Two insurers in Europe – Swiss Re and Allianz – mention FPIC in...
Mental Illness: Indian Insurers now cover alzheimers, depression and bipolar disorders
Sanil Basutkar Having an appropriate cover and healthcare plan for mental illness needs to be an important aspect when looking for a comprehensive insurance for you and your family How does insurance cover work for mental illness?For around 60 years after...
Plastic Pollution: Litigation could cost the industry and its insurers $20 billion in US over next 8 yrs, says Report
More than 300 million tons of plastic are produced every year and at least 14 million tons ends up in the ocean where it is ingested by animals and can enter the human food chain, according to the International Union for Conservation of Nature Like climate...
AM Best downgrades Peak Re’s outlooks to negative from stable
The negative outlooks reflect AM Best’s expectation that macroeconomic headwinds and current unfavourable capital and investment market conditions may exacerbate financial stress on Fosun over the short to intermediate term HONG KONG: AM Best has revised the outlooks...
Miller appoints Matthew Hooker as regional Head of Energy for Asia-Pacific
Matt’s appointment forms part of Miller’s wider growth strategy in the region and follows recent senior hires to the Singapore team, including Ron Whyte as Head of Strategic Development and Nick King as Head of Marine London: Miller, the leading independent specialist...
Markel International appoints Rohan Davies to lead a combined wholesale marine and energy division
The wholesale operation, headed by Andrew McMellin, is seeing significant growth and remains on track to achieve its ambitious goal of being a US$2bn (GWP) player by 2025, as part of Markel’s global insurance operation’s previously disclosed goal to reach $10 billion...
Net-zero: India can create 37 million additional jobs by 2050 through planning and investments, says Swiss Re
Paul Murray, CEO Reinsurance Asia at Swiss Re India is vulnerable to weather risks and its adaptive capacity for climate change is low when measured against the Swiss Re Institute's Climate Economics Index, which ranks India 45th (out of 48 markets), with only the...
Andrew Carrier appointed as Chief Executive Officer of MS Amlin Underwriting
Prior to his role at MS AUL, Carrier spent six years at Everest Re, where he was responsible for the firm’s London Market, Continental Europe, and Asia Pacific reinsurance operations London: MS Amlin Underwriting Limited (MS AUL), the Lloyd’s (re)insurer, announced...
Global experts to participate in “Aviation Insurance Symposium” hosted by Global Insurance Brokers tom
Currently, seven active insurers led by New India Assurance and reinsurers led by GIC Re are proving a Hull capacity of over $ 75mn and liability cover of over $ 400mn Mumbai: India not only has seen its aviation market expanding fast, also has emerged as the...