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Aon and Guy Carpenter partner with The Institutes RiskStream, to streamline the reinsurance placement process

International News       May 17, 2019

  London:  The Reinsurance Solutions business of Aon plc, and Guy Carpenter, a subsidiary of Marsh & McLennan Companies, have announce a joint effort with The Institutes RiskStream™ Collaborative to bring greater efficiency to the reinsurance placement process through distributed ledger technology (DLT).   The collaboration leverages...

Commercial insurance prices up 3% globally, 1.1% in U.S. in Q1: Marsh

International News       May 16, 2019

   Average global commercial insurance prices increased 3 per cent in the first quarter of2019, according to broker Marsh.   This represents the sixth consecutive quarter of average commercial insurance pricing increases, Marsh said in its Global Insurance Market Index for the first quarter of 2019   While...

Advisory firms urge ‘No’ vote on AIG execs’ pay packages

International News       May 16, 2019

American International Group Inc. shareholders should vote against compensation packages for top executives at the insurer’s annual meeting next week, according to two advisory firms that hold sway over investor votes.   Institutional Shareholder Services Inc and Glass Lewis & Co, which together influence the vast...

U.S. blacklisting of China’s Huawei to disrupt Global Technology Supply Chain

International News       May 16, 2019

  The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment.   The Trump administration has said it...

Adopting a healthy lifestyle helps reduce the risk of dementia

Facts       May 16, 2019

  People can reduce their risk of dementia by getting regular exercise, not smoking, avoiding harmful use of alcohol, controlling their weight, eating a healthy diet, and maintaining healthy blood pressure, cholesterol and blood sugar levels, according to new guidelines issued by the World Health Organization...

Electric flying taxi unveiled, could be operating worldwide by 2025

International News       May 16, 2019

The world’s first all-electric vertical takeoff and landing passenger jet has been unveiled after completing its first flight.   German startup Lilium aims to have a fleet of the five-seat aircraft -- which can operate with a pilot or in drone mode -- flying in cities...

RBI asks NBFCs with over Rs 50,000 crore in assets to appoint risk officers

Indian News       May 16, 2019

  Mumbai: The Reserve Bank of India said on Thursday that non banking financial companies (NBFCs) with asset size of more than Rs 50,000 crore should appoint a chief risk officer in a move to tighten regulation after a series of defaults at top lender Infrastructure...

Bajaj Allianz General reports a net profit of Rs 780 crore in 2019-20

Indian News       May 16, 2019

  Mumbai: Bajaj Allianz General Insurance, reported a net profit of Rs. 780 crore and gross written premium (GWP) soaring up to Rs 11, 097 crore in FY 18-19.    The company booked an underwriting profit of Rs. 18 crore in FY 18-19.   The profit before tax...

Ping An ranks 7th on Forbes' 'Global 2000' List

International News       May 16, 2019

SHANGHAI and HONG KONG: On 15 May 2019, Forbes magazine released its "Global 2000" rankings for listed companies. Benefitting from steady growth in operating income, profit, assets and market capitalization, Ping An has moved up to 7th position in the 2018 rankings, climbing 3 places...

IRDAI unveils norms on exclusions in health covers, new products from 1st April, 2020

Indian News       May 16, 2019

  Hyderabad: In a bid to rationalise and standardise the exclusions in health Insurance covers IRDAI on Thursday has proposed  a new set of norms for all the health insurance products excluding personal accident, domestic and overseas travel policies. All existing health insurance products that are...