“The general insurance sector is operating in an increasingly...
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Fidelis Partnership launches international casualty MGA Sevanta
Sevanta will focus on niche international specialty liability,...
GIC Re slashes premium for Terrorism Pool by 10% from Apr 1
With a total premium of Rs 1655 crore, the claims ratio for IMTRIP...
Environmental groups sue TotalEnergies over climate marketing claims
The claim, which has been served on TotalEnergies and was to be filed before the Paris Judicial Court, concerns the company’s “reinvention” marketing campaign. Claimants say the campaign broke European consumer law by suggesting TotalEnergies can reach net-zero carbon...
Global Covid caseload tops 447.6 million. fatalities surge past 6 million
The US continues to be the worst-hit country with the world's highest number of cases and deaths at 79,339,202 and 960,310, according to the CSSE The second worst hit country in terms of cases is India (42,97,315 infections and 515,102 deaths), followed by Brazil...
Ukraine evacuates trapped Seafarers, foreign mariners count cost of war
Many shipping firms have suspended sailings to affected Black Sea ports and other terminals in Ukraine. Insurance premiums for voyages have soared since Russia’s invasion on Feb. 24, an action Moscow calls a “special operation” Ukraine’s Maritime Administration has...
Howden M&A bolsters its Asia Pacific team to manage surging deal activity
There is a significant growth in demand for M&A insurance in APAC, with clients seeking to manage the transactional risks that arise in the course of M&A transactions There were 20,694 deals in APAC with an aggregate value of USD 1.193 trillion, up from 17,745...
Overseas re/insurers have small exposure to Russia, have strong capital position to avoid a deterioration in credit quality: S&P
Many global and regional reinsurers have exposure to Russia, as well as some industrial line writers. As of now global reinsurers' exposure is very limited, in most cases less than 1% of assets and existing liabilities, in some cases even less than 0.1%....
Could the Ukraine invasion spark a global financial crisis?
The threat to banks with over US$100 billion of Russian debt in foreign banks, this raises questions about the risks to banks outside Russia – and the potential for a default to kick off a 2008-style liquidity crisis, where banks panic about the state of other banks'...
Cargo ship to Assam via Bangladesh completes pilot voyage
Speaking on the occasion, Sonowal said, "Today marks the beginning of a new age of inland water transport in Assam. This is going to provide the business community a viable, economic and ecological alternative.'' "The start of cargo movement through ships via the Indo...
GIC Re studying $115 mn suit by AM Re Syndicate for US business
In a regulatory filing on Thursday, GIC Re said it is currently in the process of studying the complaint and quantification in detail in order to determine the next steps "In the complaint, AM RE has sought amounts which are to be determined at trial, but which as per...
Russia’s invasion of Ukraine leaves global trade in tatters
Since Russia's invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while dozens more have been stranded at ports and at sea unable to unload their valuable cargoes Only a small handful of Russia's 2,000 cargo and...
Italy’s Generali to pull out of Russia as Intesa reviews business
Europe's No 3 insurer said its exposure to the Russian market in terms of investments and insurance business was under constant evaluation. The moves come as Western countries seek to distance themselves from Russian business after President Vladimir Putin ordered his...