“The perception among shipowners is that due to the convoluted...
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Fairfax appoints Amitabh Kant as a senior advisor
Canadian billionaire Prem Watsa's company Fairfax Financial...
Howden ventures into the Saudi Arabia, to drive strategic growth opportunities
David Howden CBE, CEO, Howden said: “We have already built up a...
India’s stray missile put dozens of passenger jets at risk
Several planes passed through the direct trajectory of the missile that day, which flew from the Indian garrison town of Ambala and ended up in Mian Channu in Eastern Pakistan. They included a Flydubai jet heading to Dubai from Sialkot, an IndiGo plane going from...
Aircraft insurers brace for deluge of Russia claims, with Lloyds on hot seat
The Financial Times reported Thursday that Lloyd’s of London is expecting a “significant but manageable overall loss” with a final bill between $1 billion to $4 billion after reinsurance pays out, citing a person familiar with the matter. The exchange didn’t respond...
Swiss Re announces new appointments in Asia and North America
Ivan Gonzalez has been appointed CEO Reinsurance China and China country president with effect from 1 July 2022 Katie McGrath will succeed Ivan as Regional CEO for Swiss Re Corporate Solutions in North America Russell Higginbotham, chief executive officer Reinsurance...
Reliance General Insurance to provide cover to One Moto India’s e-two wheelers
Electric two-wheeler maker One Moto India on Thursday said it has partnered with Reliance General Insurance to provide motor insurance to its customers. The company, which has launched three electric scooters -- Byka, Electa, and Commuta, said the partnership will...
Japan manufacturers restart some of the northeast’s quake-hit plants
Renesas Electronics Corp, which makes nearly a third of the microcontroller chips used in cars globally, said a stop on two factories and a partial stop on a third remained in place Tokyo: Japanese manufacturers began restarting production at some of the plants that...
Swiss Re cuts fossil fuel cover for oil, gas to protect climate
In its annual sustainability report released Thursday, Swiss Re said it would no longer insure projects that get the go-ahead from their parent company from 2022, unless the company has an independently verified, science-based plan to reach net-zero emissions Now, the...
UK tables ‘world-first’ online safety law in Parliament
Nadine Dorries,UK Digital Secretary The Online Safety Bill has been dubbed a milestone in the fight for a new digital age, which will hand the country’s communications watchdog the power to fine or even ban offensive websites. It is also designed to protect children...
Reinsurers return more capital on very strong 2021 results: Fitch
The strong increase in earnings in 2021 allows reinsurers to overcompensate for a rise in excess mortality losses linked to Covid-19, above-average natural catastrophe claims and a lower investment income Paris/Frankfurt: The four major European reinsurers – Hannover...
Market volatility is Ukraine war’s main risk for European insurers: Fitch
``We estimate that global reinsurers’ coverage of risks in Russia typically accounts for less than 2% of their gross written premiums (GWP). The exposure is mostly from specialty lines, such as energy, marine and aviation, typically written through Lloyd’s of London...
Magnitude 7.3 Earthquake hits Japan’s Fukushima area, triggers a tsunami advisory & disrupts power in Tokyo
Tokyo Electric Power Co. said more than 2 million buildings, including around 700,000 in Tokyo, lost power. No irregularities have been found at its Dai-ni nuclear power plant in Fukushima, while the Dai-ichi plant is still being checked, Chief Cabinet Secretary...