AI-focused companies dominated the quarter, accounting for 95.2% of...
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FM launches new insurance policy for manufacturers
“FM Essential brings together engineering insight, data analytics...
Iran sets Hormuz transit rules; Shipowners stay cautious
Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe,...
Nexus acquires medical tourism specialist Sure Insurance Services
The business will become part of Millstream Underwriting, which has been owned by Nexus since 2015 London: Nexus Underwriting (Nexus), announced today that it has acquired Sure Insurance Services (Sure), a leading provider of specialist solutions for the medical...
Willis makes new leadership appointments in Asia
These changes and new leadership roles recognise the significant opportunities and increasing complexities companies face within the Natural Resources and Construction industries in Asia Singapore: Willis, a WTW business, today announced new appointments to its...
Sompo aims at higher-yielding overseas credit to boost profits as traditional business flounders
Globally, private credit has grown into a $1.7 trillion market. Lending spreads have narrowed compared with 2023 due to intensifying competition, but for Sompo the debt remains attractive because spreads are still wider than other credit products. Tokyo:Sompo Holdings...
AXA assesses losses from deadly fire in Swiss mountain resort of Crans-Montana killing 40
French insurer AXA SA said that it has provided liability insurance to Crans-Montana and a business liability insurance for “Le Constellation.” Both policies are “standard products” and the sum insured is limited, AXA’s Swiss unit said in a statement With flags...
Jeju Air crash victims could have all survived without concrete barrier, lawmaker says
The Boeing 737-800 coming from Bangkok belly-landed and overran the runway at Muan International Airport, killing almost everyone on board after it struck a concrete support for a localiser antenna. The only survivors were two flight attendants at the far rear of the...
Geopolitical Risks: Venezuela and the shifting map of insurance risks in the Caribbean
While Venezuela has long been a marginal market for most international insurers, the current situation matters because it could disrupt regional transport corridors and trade routes covered by global insurers Recent geopolitical developments in Venezuela have brought...
Govt may approve PSU gen insurers’ wage revision proposals by Feb 15
Parshant Kumar Goyal, joint secretary, DFS In a meeting of all stakeholders, including chief labour commissioner(CLC), today, Parshant Kumar Goyal, joint secretary, DFS assured that the Feb 15 deadline will be the maximum timeline and the department try to get the...
Berkshire Hathaway raises new CEO’s salary to $25 million
Compensation for Greg Abel set by Mr. Buffett during that period, and included a $21 million salary in 2024, a $20 million salary in 2023, and a $16 million salary plus a $3 million bonus in 2022.Mr. Buffett awarded Vice Chairman Ajit Jain, who oversees Berkshire’s...
Joshi gets another 3 month extension as acting GIC Re CMD
The government has extended the appointment of Hitesh Ramesh Chandra Joshi, executive director, GIC Re, as acting CMD of the state owned reinsurer for a further period of three months or until a regular CMD is appointed, or until further order, whichever is earliest,...
MS Amlin grows Phoenix Re cat bond to $115m for 2026
Asia-focused ILS vehicle exceeds $100m milestone as insurer signals further expansion.Since launching in 2021, Phoenix Re has grown steadily, supported by consistent investment performance and rising investor appetite for accessing Asia’s diverse catastrophe risks....