One of the world’s most-influential insurance markets added Guyana to its list of the riskiest shipping zones amid an escalating territorial dispute with neighboring Venezuela. The decision announced by Lloyd’s Market Association’s Joint War Committee on Monday applies only to …
Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, announced that CVC has completed its investment in Dale. The completion of the transaction follows approval from the UK Prudential Regulation Authority (PRA) and Lloyd’s for Dale’s …
Initial industry losses for extratropical windstorm Ciarán, also known as Emir, are estimated at €1.9 billion (US$2.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm affected France, Belgium, the United Kingdom, and …
Britain’s National Grid has started removing components supplied by a unit of China-backed Nari Technology from the electricity transmission network over cyber security fears, the Financial Times reported on Sunday. The decision came in April after the utility sought advice …
London’s marine insurance market has widened the area in the Red Sea it deems as high risk after a surge in attacks on commercial ships, according to a statement issued on Monday. Guidance from the Joint War Committee (JWC), which …
Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea to show their support for Palestinian Islamist group Hamas fighting Israel in Gaza. The attacks, targeting a route that allows East-West trade, especially of oil, …
A key tourism area in Australia’s far north has been inundated with life-threatening flooding after days of torrential rainfall in the wake of a tropical cyclone. Major flood and strong wind warnings have been issued across several areas in Queensland …
Society of Lloyd’s, better known as Lloyd’s of London, has reached an agreement to remain in its One Lime Street headquarters until at least 2035, the Financial Times reported. The deal with landlord Ping An Insurance Group, which came together …
S&P Global Ratings has revised its financial strength rating for Lloyd’s of London to “AA–”, outlook stable, from “A+”, outlook stable. The rating upgrade reflects the improvement in Lloyd’s balance sheet strength, which S&P has assessed to be “excellent,” as …
European Union countries and lawmakers last week agreed a provisional deal for artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology regulation. The long road to the EU AI …
