Similarly, Stephen Rudman, head of marine – Asia, at Aon, outlined some of the primary actions that have been taken including: issuance of formal notices of cancelation under standard seven-day war clauses on certain annual hull war policies; withdrawal or revision of existing quoted Additional Premiums (APs) for transits through listed high-risk areas; reinstatement of cover being offered at materially increased rates; and heightened underwriting scrutiny for voyages into or near sensitive zones, including potential requirement for prior approval. “Importantly, this activity relates specifically to war risk extensions. Core hull and machinery and P&I covers remain in place unless otherwise…
Author: Awais
FedEx was sued in federal court on Friday on behalf of customers seeking refunds from the global shipping company after the U.S. Supreme Court ruled this month that President Donald Trump unlawfully imposed billions of dollars in emergency tariffs on imported goods. The proposed class action in the federal court in Miami, Florida, seeks compensation for potentially millions of shippers who paid import duties and related fees on products that they said should have entered the United States duty-free. FedEx said in a statement on Friday: “If refunds are issued to FedEx, we will issue refunds to the shippers and…
Despite fewer securities class action settlements, the median settlement amount reached its highest level in nearly three decades last year, according to Cornerstone Research. The median settlement was $17.3 million in 2025—marking a 20% increase from the previous year and the highest amount since 1997. In its latest securities class action report, Cornerstone, an economic and financial consulting firm, attributed the rise in part to larger settlements in cases involving only claims under the Securities Act of 1933 (’33 Act). “One factor that may explain these larger settlements is that these cases may have been unusually complex,” the report’s authors,…
They include a new marketing chief and a new unit CEO
In 2025, investment gains included changes in unrealized equity gains of $12.9 billion for the full year, including $9.6 billion in Q4, plus after-tax realized gains on sales of $17.8 billion for the year. That compared with unrealized gains of $2.1 billion in Q4 but unrealized losses of $38.1 billion for full-year 2024, alongside realized gains of $79.6 billion for that year.
Life premiums increased by 9%, bolstered by strong protection sales in Hong Kong, Switzerland, and Japan, alongside a 13% rise in unit-linked products. The group reported that net flows reached €5.4 billion, a significant increase from €1.5 billion in 2024, driven primarily by protection and health products.
The new unit, led by Alastair Swift, brings together specialists from construction, energy, cyber, supply chain, analytics and risk engineering to provide advisory and risk transfer solutions spanning the entire data-center lifecycle – from site selection and construction through to power resilience, catastrophe exposure and operational continuity.
The analysis argues that accelerating geopolitical shifts are creating a level of complexity not seen in decades, with implications for trade, conflict dynamics, capital flows, and digital infrastructure. While many business leaders expect significant global restructuring over the next year, Marsh said firms are still devoting too much attention to short-term volatility rather than preparing for structural changes that could reshape operating environments.
“Our global brand reflects the strength and scale of our platform across public and private markets, making the full breadth of our capabilities more visible and accessible to clients navigating the next era of investing. With the support of New York Life, we are continuing to expand the breadth of our offerings, guided by disciplined active management, long-term partnerships, and the enduring values of our firm,” said Naïm Abou-Jaoudé, CEO of New York Life Investment Management.
“We’re excited to partner with Fairway to bring enhanced insurance solutions to their customers. This collaboration reflects our commitment to supporting mortgage lenders and their customers with the tools, technology and access to insurance carriers they need to navigate today’s complex insurance marketplace. By integrating insurance into the homebuying process, we’re helping make homeownership more accessible and affordable,” said David Smith, president and executive operating officer of Mainstreet Insurance Solutions at The Baldwin Group.
Mark Kaye, executive vice president and chief financial officer, will expand his remit to include oversight of Carelon, which houses Elevance’s healthcare services operations, including pharmacy benefit management, behavioural health, value‑based care and care‑delivery capabilities.
Criminal tactics are evolving beyond broken windows
Demand for specialized coverage Industry research shows the global market for insurance tailored to high-net-worth individuals continues to expand. Valued at about $106.6 billion in 2024, forecasts predict the HNW insurance market will grow steadily through the end of the decade as affluent households seek bespoke protection for property, luxury assets, and complex liability exposures. Custom coverage for fine art, high-value homes, cyber threats, and luxury vehicles increasingly drives demand as traditional policies fail to meet sophisticated needs. North America accounts for 38% and 42% of this market, with tailored advisory-led solutions gaining traction.
After-tax profit rose 36.2% to $651.8 million, with the group delivering a return on net tangible assets of 28.8%, up from 25.8%. Insurance premium written totaled $3,091.7 million, a 3.8% increase at constant exchange rates. The undiscounted combined ratio came in at 89.3%, compared with 85.3% the previous year.