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According to a report by S&P Global Market Intelligence, the global insurance industry has booked an estimated $1.3 billion in aggregate losses and reserve increases related to the Ukraine-Russia war in the first quarter of the year, Port News reported. European insurers and reinsurer have suffered the most from the war, with reinsurer Swiss Re AG taking the biggest hit as it sets aside $283 million in reserves for potential claims related to the war.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees