More Reforms Needed to Tackle Shadow Banking’s ‘Hidden Leverage’: BoE Regulator July 18, 2024 The booming non-bank financial industry has created excessive leverage that poses financial stability risks, and more reforms are needed to...
Insured Losses for Floods in Southern Germany Estimated at €1.6B: PERILS July 18, 2024 The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent...
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re July 18, 2024 By L.S. Howard Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025,...
UK Lays Out Stronger Cybersecurity Defenses After Attack Crippled NHS Hospitals July 18, 2024 By Mark Bergen The new UK government plans to strengthen the nation’s defenses against cyberattacks, a month after a ransomware hack crippled London...
Islamic Insurance Helps Cover Muslim Farmers Battling Climate Change July 18, 2024 By Betsy Joles On his four and a half acres of land in central Pakistan, Izhar ul-Haq approaches farming as a science. He...
World Bank Eyes First ‘Drought’ Bond in Next 12-18 Months July 18, 2024 By Karin Strohecker and Marc Jones The World Bank is looking to issue its first drought bond in the next 12-18-months and broaden its offering of...
People Moves: DUAL Swiss Taps Tokio Marine’s Wyss as Managing Director; WTW Appoints 3 Senior Hires to International Casualty Team July 17, 2024 This edition of International People Moves details appointments at managing general agent DUAL Europe and insurance broker WTW. A summary...
Russian Tactics Make Secret Tanker Oil Switching Harder to Trace July 17, 2024 By Julian Lee Two near-identical oil tankers trying to beat western sanctions. A secret transfer of Russian crude halfway between Iran and Oman....
Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition July 17, 2024 By L.S. Howard Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300...
Air Canada Hit by Court Ruling After Ex-Maintenance Workers Sue July 17, 2024 By Mark Mann Air Canada may be forced to pay at least C$100 million ($73.2 million) to about 2,200 former workers after a...