PERILS, the Zurich-based catastrophe insurance data provider, has estimated that the insurance market loss for the severe convective storms which affected large parts of Europe in July could be €2,186m (£1,873m).

European product recalls remained at elevated levels in the first half of 2026, with 7,115 events recorded across the region, according to Sedgwick’s latest European Product Safety and Recall Index. Although the total was 7.9% lower than the 7,729 recalls recorded in H1 2025, it was still the second-highest half-year figure on record and the third consecutive H1 in which recalls exceeded 7,000.

Tokio Marine HCC International has agreed to acquire Direct Commercial Limited, a UK commercial motor managing general agent, in a deal that also includes its sister company, Direct Commercial Premium Finance Limited. Financial terms were not disclosed.

Manchester Airports Group has suffered a major cyber attack in which data relating to around 8.7m customers has been accessed. The group, which operates Manchester Airport, London Stansted and East Midlands Airport, said it became aware of the incident on Tuesday 25 August. The breach is believed to have occurred several days ago.

The UK's National Cyber Security Centre has urged organisations deploying autonomous AI agents to put robust safeguards in place, warning that systems can carry out unintended or malicious activity when they do not behave as expected.

Climate change could cost London’s economy up to £36bn a year by the 2050s without further adaptation, according to a report published by the Mayor of London and London Councils. It estimates annual climate-related damage of between £16bn and £36bn, equivalent to around 3% of London’s economy. The estimate covers potential disruption to businesses, lost working hours and productivity, pressure on services and damage to essential infrastructure.