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Hannover Re scales back its exposure to coal-fired power plants

International News       Apr 18, 2019

  Hannover:  Hannover Re is scaling back its exposure to coal-fired power plants and coal mines over the long term. In addition to excluding coal-based projects from its investment universe, the Group is now also adopting a more restrictive underwriting policy on the reinsurance of coal-based...

ICICI General insurance net at Rs 228 cr , up 7.5 %,in Q4 FY 2018-19

Indian News       Apr 18, 2019

  Mumbai: ICICI Lombard General Insurance Company, the country’s fourth largest general insuer, recorded a net profit of Rs 228 crore for the quarter ending March 2019, up 7.5 per cent over the year ago period.    For the financial year 2017-18, the general insurer saw its...

Munich Re Syndicate Singapore expands its Asian partnership

International News       Apr 18, 2019

   Singapore: Munich Re Syndicate Singapore (MRSS) on Tuesday has announced the partnership with a new cover holder, Nectar Specialty Risk Pte, a Singapore incorporated limited liability company, committed to delivering bespoke (re)insurance solutions for its clients and business partners.   NECTAR’s professional line products are offered...

Promoters of Reliance General and Max Life tap Indian investors to sell stakes

Indian News       Apr 17, 2019

  Mumbai: Promoters of two large India insurance firms- Max Life Insurance and Reliance General Insurance (RGI) - are now looking for investors to grow their business in a highly competitive domestic insurance market.   According to the media reports, Axis Bank is exploring options to acquire...

UAE Takaful companies catching up with conventional peers

International News       Apr 17, 2019

LONDON: Takaful operators continue to gain traction in the United Arab Emirates (UAE) insurance market as the Takaful segment’s profitability has improved significantly in recent years, according to a new special report by AM Best. In its analysis of the preliminary disclosures of the nationally...

General insurance industry logs Rs1.7trillion of premium, private sector insurers gain 5 % market share in 2018-19

Indian News       Apr 17, 2019

  Mumbai: Led  by the private sector companies, the domestic  general insurance industry, with a mix of 34 players, has  grown by 13 percent  to Rs1,70.103 crore in 2018-19. According to theindustry performance figures ,released by the General Insurance Council, the four main  public sector insurers,...

Global life reinsurers poised for growth, but mature U.S. market still key:AM Best 

International News       Apr 16, 2019

  OLDWICK: Growth in the U.S. life reinsurance market has been challenged due to limited growth by direct writers, but opportunities have taken shape in emerging markets, particularly in the Asia-Pacific region, as well as in legacy life/annuity blocks of business that have come to market,...

France's AXA provided insurance cover for two Notre-Dame contractors

International News       Apr 16, 2019

  PARIS: French insurance firm AXA said on Tuesday it provided insurance coverage for two of the contracting firms that were working on Notre-Dame’s restoration prior to the blaze that devastated the cathedral.   The fire ripped through the cathedral’s roof, where workers from a number of...

India facing shortage of 600,000 doctors, 2 million nurses: Study

Indian News       Apr 15, 2019

  Washington:  India has shortage of an estimated 600,000 doctors and 2 million nurses, say scientists who found that lack of staff who are properly trained in administering antibiotics is preventing patients from accessing live-saving drugs.    Even when antibiotics are available, patients are often unable to...

IMF officials urge Governments to limit risks to global economy

      Apr 15, 2019

  The International Monetary Fund warned governments not to rock the boat with trade wars and other disruptions at a time when the global economy is already sailing through choppy waters.   “We see downside risk and that means one has to be very careful,” IMF First...

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