Specialty (re)insurance coverage, involving 13 underwriters, has enabled a salvage operation for The FSO Safer which holds 1.14 million barrels of light crude and has been deteriorating since 2015.
ASIC has launched the survey to measure cyber resilience within the corporate and financial sectors, in light of increasing high-profile cyber attacks.
Despite two capital injections worth US$1bn and a return to net profit, Fubon's credit ratings remain under scrutiny due to money owed from reinsurance counterparties.
AM Best has assessed that the South Korean insurer's robust capitalisation plus the implementation of IFRS 17 should allay worries about valuation losses in its securities.
