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Nicholas Walsh appointed as non-executive chairman of Sompo
Sompo, a leading global provider of commercial and consumer...
Gallagher expands in Türkiye with acquisition of Aspera
This move marks further investment by Gallagher as the country...
G7 finance chiefs agree on Russian oil price cap but level not yet set
The cap would rely heavily on denying London-brokered shipping insurance, which covers about 95% of the world’s tanker fleet, and finance to cargoes priced above the cap. But analysts say that alternatives can be found to circumvent the cap and market forces could...
Globally majority of those impacted by floods uninsured: Swiss Re
This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted water and electricity supply in India, while drought has put farmers’ harvests at risk across Europe Insured losses from floods doubled to $80 billion globally...
IRDA allows agents, brokers and other intermediaries to be on boards of insurance companies
The proposed director should not not be working in the capacity of the chief insurance executive / specified person or any other officer responsible for soliciting insurance business for or on behalf of the insurance agent, intermediary or insurance intermediary while...
Pakistan could have averted climate catastrophe that has killed over 1,000
The infusion of $1.16 billion by IMF might help unlock enough cash to get the country through the next couple of years — but the floods themselves have caused more than $10 billion of damage, much of which will end up boosting the country’s $255 billion in debt. If...
Wildfire, floods don’t need to turn into disasters: UN risk report
“Disasters occurring in completely different parts of the world at first appear disconnected from each other. But when you start analyzing them in more detail it quickly becomes clear that they are caused by the same things, for example greenhouse gas emissions or...
Prevention measures crucial to tackling risk of battery fires in shipping: Allianz
AGCS analysis of over 240,000 marine insurance industry claims over the past five years (with a value of €9.2bn), shows that fire/explosion (from all causes) is the most expensive cause of loss, accounting for 18% of the value of all claims Singapore: Recent incidents...
Fairfax looks to settle mutual fund cross-holding norms case with Sebi
The capital markets regulator, in October 2021, issued a show cause notice against Fairfax Financial Holdings Limited (FFHL), the ultimate parent entity of Fairfax Group, alleging a violation of mutual fund rules by FFHL, according to the draft IPO documents of Go...
Pakistan’s fatal flooding has hallmarks of global warming:
The recent flood in Pakistan is actually an outcome of the climate catastrophe … that was looming very large. The kind of incessant rainfall that has happened … has been unprecedented,"said Anjal Prakash, a research director at India's Bharti Institute of Public...
Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report
Of the five business sectors most vital to the global economy, manufacturing and distribution would be hit hardest by disasters costing $4.2 trillion as water scarcity disrupts production while storms and floods destroy infrastructure and inventory. read more Last...
Major Asia-Pacific reinsurers deliver stable performance on growing competition and uncertainty: AM Best
2022 is shaping up to be another profitable year thanks to benign natural catastrophe activity in the region in the first half of the year for Asia Pacific domiciled reinsurers The accumulation of natural catastrophe risks in Asia-Pacific reinsurers’ home markets...