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Aon chief executive Greg Case has called for $1trn in private capital to enter the insurance sector over the next decade to address increasing coverage gaps for natural disasters and cyber threats. Speaking to the Financial Times, Case said: “If we don't bring in a trillion dollars in alternative capital in the next decade, we've failed.” The insurance industry is under pressure from rising climate-related losses and a surge in cyber incidents, with Aon noting that since 2000, less than one-third of global natural catastrophe costs have been covered. In 2024, economic losses from natural disasters reached $223m, with only $145bn insured. Aon anticipates that alternative capital investment will double in the next five years, driven by investor appetite and demand from companies facing reduced capacity from traditional insurers. Case emphasised the importance of transparency and understanding risk to bolster investor confidence.

 

Financial Times

Insurance Business Magazine America

Cybersecurity’s Crystal Ball: 10 Predictions You Can’t Afford to Miss

Risk is evolving faster than most organisations can respond, and cybersecurity is now at the centre of the storm.

Cybersecurity’s Crystal Ball delivers 10 sharp, actionable predictions from industry leaders to help risk executives anticipate what’s next and protect their organisations from blindside threats in 2025 and beyond.

Inside, you’ll uncover:

• Why Zero Trust is no longer optional, and what “good” looks like now
• The regulatory trends forcing a new model of risk ownership
• The cultural weak points attackers are exploiting, and how to close the gaps
• Why AI-fuelled threats demand cross-functional readiness, not just IT controls

Whether you oversee enterprise risk, resilience, or regulatory response, this eBook equips you with the foresight and frameworks to stay ahead of reputational, legal, and operational exposure.

👉 Download your free copy before the next risk arrives.

 

The International Criminal Court (ICC) has reported a “sophisticated and targeted” cyber attack, prompting immediate measures to limit damage. The ICC said: "A Court-wide impact analysis is being carried out and steps are already being taken to mitigate any effects of the incident." This attack follows a previous incident in 2023 and occurred during a week when The Hague hosted a NATO summit, raising concerns about security. The ICC currently has ongoing high-profile investigations, including those related to Russian war crimes in Ukraine, and has previously faced espionage attempts. The court has not confirmed whether any confidential information was compromised, and it continues to deal with the repercussions of the attack. WiFi services are still not fully restored.

 

ABC News

The Independent

The Financial Conduct Authority is warning bankers about leaks which have come alongside an increase in the amount of unusual trading activity shortly before the announcement of UK corporate takeovers.

 

Financial Times

A survey from the Confederation of British Industry (CBI) shows that private sector businesses expect to see a decline in activity in the next three months. Firms are braced for a fall in the three months to September, having seen output fall by 26% in the three months to June. The report suggests that business volumes in the services sector, which accounts for around 81% of the UK's GVA in the UK, is set to fall by 24%, while consumer services are predicted to see a 31% fall in activity. CBI deputy chief economist Alpesh Paleja warned of "sizeable headwinds" that are set to hit growth, including a lower salary threshold for employers’ National Insurance contributions.

 

City AM

German retail sales unexpectedly fell by 1.6% in May compared with the previous month, according to statistics office Destatis, dampening hopes for strong second-quarter growth. Analysts polled by Reuters had predicted a 0.5% increase. Elsewhere, data from Statistics Sweden showed retail sales declined 4.8% month-on-month in May, the biggest such drop since April 1994. Sales of durable goods fell 6% while consumables, excluding liquor store sales, dropped 2.8%

 

Bloomberg

Reuters

SME founders and investors warn that new Companies House rules forcing them to disclose detailed profit and loss statements could hurt competitiveness, innovation and growth. As of April 2027, small companies will lose the right to file abridged accounts. They will instead file full accounts, including income statements that detail revenues, margins, director salaries and client concentration. Martin McTague, national chair of the Federation of Small Businesses, said the move "opens the door wide to competitors snooping on margins and for large companies in supply chains to scrutinise smaller suppliers’ finances." Warning that "it could give big players an unfair advantage and damage small firms negotiating power," he added that the changes will "make the system less friendly for small business owners at a time when the UK desperately needs more enterprise and growth."

 

City AM

The government is funding the Official Receiver to ensure the safe operation of an oil refinery after its owner, Prax Lindsey Oil Refinery Limited, went into administration. Energy Minister Michael Shanks said staff have been "badly let down," adding that the owner of Prax Group should "put his hands in his pockets and deliver proper compensation for the workers." Shanks told the Commons that the government is demanding "an immediate investigation into the conduct of the directors and the circumstances surrounding this insolvency." There are 420 employees at the refinery, but union Unite calculates that 1,000 jobs could be affected when taking into account contractors and the supply chain.

 

BBC News

The Times

Chancellor Rachel Reeves is reportedly planning to cut the tax-free cash ISA allowance in a bid to encourage savers to invest in London-listed firms. The Chancellor is set to lower the £20,000 cap that savers are allowed to put in cash tax-free as ministers look to boost the UK’s capital markets. Those who back such a move say the £300bn of tax-free cash savings should be invested in UK companies, providing them with much-needed capital. However, Michael Summergill, CEO of investment platform AJ Bell, has warned that reducing the amount savers can hold in cash ISAs would have a negative impact on savers without having "the desired effect of getting people investing."

 

City AM

Daily Mail

The Daily Telegraph

The Financial Conduct Authority (FCA) is developing new rules aimed at helping consumers move their savings from cash into shares as the City watchdog looks to reduce the "advice gap." The proposed rules would allow financial firms to offer "targeted support" - replacing the current system that distinguishes between "guidance" and "financial advice." Sarah Pritchard, the FCA’s deputy chief executive, said: "Targeted support will, we hope, revolutionise some of the financial advice market," adding: "It will allow firms to make recommendations to people based upon common characteristics." The change aims to make investment support more accessible and boost participation in the market. 

 

Financial Times

The Times

The I

The biggest US banks have passed the Federal Reserve’s annual tests of whether they can withstand a future economic and market crisis, with firms maintaining robust capital levels even after suffering hundreds of billions of dollars in losses. The results of the US central bank's yearly "stress test" of large lenders' finances found they remain resilient in the face of a potential recession, a spike in unemployment, and market turmoil. “Large banks remain well capitalised and resilient to a range of severe outcomes,” said Michelle Bowman, the Fed’s vice-chair for supervision.

 

Financial Times

Reuters

Barclays is appealing a court decision after losing a case in December regarding unfair motor finance commission payments. The Financial Ombudsman Service had ruled that Clydesdale, part of the Barclays Group, failed to disclose a £1,600 commission on a car loan, prompting a customer complaint. Barclays' judicial review attempt was rejected by Mr Justice Kerr, who also awarded costs against the bank. Barclays is now contesting this decision in the Court of Appeal.

 

City AM

UK health insurer Bupa has agreed to pay a A$35m (US$23m) fine in Australia after it admitted to “unconscionable conduct” by denying legitimate claims made by patients over a five-year period. The company has apologised for misleading thousands of customers who were incorrectly told they could not claim some hospital treatments, forcing many to pay thousands of dollars or cancel medical procedures altogether. The Australian Competition and Consumer Commission, the country’s consumer watchdog, began legal proceeding against Bupa for allegedly misleading customers over five years after they were given incorrect information about claiming benefits in cases where two or more procedures were taking place at the same time. Nick Stone, head of Bupa Asia Pacific, said the health insurance giant had admitted to the “unconscionable conduct.”

 

Australian Broadcasting Corporation

Financial Times

Australian Financial Review

Energy firms say suppliers who are failing to meet Ofgem’s financial resilience targets should be named. Utility Warehouse and Good Energy have criticised the watchdog for failing to identify companies who are falling short of a minimum capital target that came into force at the end of March. Calling for greater transparency, Stuart Burnett, chief executive of Utility Warehouse owner Telecom Plus, said: "Ofgem’s approach is already creating an unlevel playing field, and should undercapitalised suppliers fail, it is the consumer that will suffer the most." Nigel Pocklington, chief executive of Good Energy, warned: "The current approach risks creating an uneven playing field, where specialist and compliant suppliers like us are penalised for doing the right thing."

 

The Times