"Yes, there has been a definite increase in the freight cost. There...
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Data centre coverage could reach $10 billion in premiums in 2026:S&P
As individual projects keep growing in size, they may eventually...
AI-boosted hacks with Anthropic’s Mythos could have dire consequences for banks
Wall Street banks have started testing Mythos internally after the...
Global reinsurance sector to experience moderate deterioration in 2026:Fitch
Abundant capacity and rising competition across most property lines will gradually erode prices, while rising claims costs, notably from more frequent and severe catastrophe losses and persistent social inflation, will pressure underwriting margins, in our base case,...
$152 Billion and Rising: Insurance industry facing growing average annual losses from natural catastrophes
The 2025 Global Modeled Catastrophe Losses Report notes a $32 billion increase in non-crop global modeled insured AAL over 2024, which reflects the upward trend in catastrophe losses experienced on a global scale. Over the past five years, insured losses have averaged...
Aon appoints Bonjay Koo as Enterprise Client Leader for South Korea
Aon plc today has appointed Bonjay Koo as Enterprise Client Leader, Asia Pacific in South Korea effective September 1. In this strategic role, Koo will be responsible for the delivery of integrated Risk Capital and Human Capital solutions to Aon’s enterprise and large...
India’s push for ethanol-mixed fuel sparks driver backlash, leaves carmakers scrambling
When asked about issues on warranty and insurance due to usage of E20 fuel on non-E20 vehicles, SIAM Executive Director PK Banerjee said, "The E20 fuel-related insurance and warranty, any claim, whoever is spreading is misplaced. There will be honouring of the...
Global reinsurance results very strong in 1H25, Revenue growth is slowing: Fitch
Fitch expects competition to intensify as supply outpaces demand, with further price softening and slight loosening of terms and conditions at the upcoming renewals, although underwriting discipline should persist. Chicago/Paris/London: Global reinsurers’...
Sompo to acquire Aspen for $3.5 Billion
James Shea, CEO of Sompo P&C, said “Strategic acquisitions have been a key part of our growth plan to build a robust and diversified global P&C platform, and Aspen represents an excellent opportunity at the right time in the market cycle. We look forward to...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric re/insurance policies, better aligning payout with actual losses. The scalable nature of Safehub’s technology allows for rapid and dense deployment of sensors, enabling risk transfer solutions even in...
Willis expands into specialty lines, hires talent in Japan
The Japanese general insurance market is projected to grow from JPY11.7 trillion (US$81.1 billion) in 2024 to JPY12.7 trillion (US$93.9 billion) by 2028, at a compound annual growth rate of 2.2%. TOKYO: Willis, a WTW business, today announced a significant expansion...
Japan’s NEXI signs reinsurance agreement with ECGC
Under this agreement, NEXI will underwrite reinsurance for export credit insurance underwritten by ECGC for Japanese companies in India exporting goods from India to third countries, including those in Africa NEXI is in the process of registering as a reinsurer with...
Term, health insurance policyholders to benefit most from GST exemption on individual policies: Experts
Insurance industry hopes that key input services of commission and reinsurance also receive an exempt status so that there is no blockage of input tax credit ," Mahesh Jaising Deloitte India Partner and Leader it is essential to tackle some of the structural issues...