July 25, 2024
Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday. A software bug in cybersecurity firm CrowdStrike’s quality-control system caused the software update that …
July 5, 2024
Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the …
April 15, 2024
Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, the Association of British Insurers said on Monday. Weather-related home …
April 8, 2024
Some of Britain’s top financial firms pay women 28.8% less on average than male counterparts, salary data from 21 companies reviewed by Reuters shows, even though they say they are striving to hire more females for higher-paid, senior roles. Banks, …
March 21, 2024
Direct Line posted a 2023 operating loss as it grapples high motor claims inflation, but reinstated its dividend as the British home and motor insurer tries to fend off takeover offers from Belgian rival Ageas. The 189.6 million pound ($242.6 …
March 15, 2024
Since Russia invaded Ukraine two years ago, nearly 50 merchant ships have been languishing in its waters, stuck in ports too dangerous to sail from. But while these ships have not moved, some of their owners have changed, highlighting the …
March 13, 2024
Britain’s Direct Line said on Wednesday it had rejected a revised 3.17 billion pound ($4.06 billion) takeover bid from Belgian rival Ageas, repeating that it “significantly undervalued” the home and motor insurer. Direct Line, a household name in insurance in …
February 22, 2024
Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars and climate disasters. Operating profit …
February 15, 2024
Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them. The Financial Conduct Authority …
February 8, 2024
War underwriters have raised the premiums they charge to US, British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …