A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage. Iran-aligned Houthis launched ballistic missiles and drones towards the …
A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported: AIRLINES, …
A worldwide tech outage crippled industries from travel to finance on Friday before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected technologies. A software update by global cybersecurity firm …
Angola will sell stakes in its largest insurer and in the local unit of Standard Bank Group Ltd. this year, as the oil-producing nation moves ahead with a privatization program to raise cash and diversify the economy. The disposal of …
Two large oil tankers were on fire on Friday after colliding near Singapore, the world’s biggest refueling port, with two crew members airlifted to hospital and others rescued from life rafts, authorities and one of the tanker owners said. Singapore …
This edition of International People Moves details appointments at Liberty Mutual Re and H.W. Kaufman Group London. A summary of these new hires follows here. Liberty Mutual Re Taps Aon’s De La Mare to Lead Australia/New Zealand Unit LM Re, …
The booming non-bank financial industry has created excessive leverage that poses financial stability risks, and more reforms are needed to tackle it, including improving disclosure of positions, a Bank of England regulator said on Thursday. Non-bank financial institutions (NBFIs), including …
The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The floods, which hit southern Germany during the period of May 31 …
Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss Re in a report, which discusses the macroeconomic factors …
The new UK government plans to strengthen the nation’s defenses against cyberattacks, a month after a ransomware hack crippled London hospitals and health care providers. Labour introduced the Cyber Security and Resilience Bill on Wednesday as part of its maiden …
