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News in Brief

Markel International, the specialist insurer, has appointed Lin Wanshi as assistant marine underwriter to join the marine underwriting team in its Singapore office. Wanshi joins Markel from insurance broker Marsh

The appointment reflects Markel’s ambitions in marine, one of its core markets, in addition to further enhancing its underwriting capabilities in the Asia Pacific.

Apr 18

MoF-CMDs meeting on 3 PSU merger postponed to Apr 23

The meeting between the ministry of finance(MoF) and CMDs of three merging PSU general insurers- United India Insurance (UII), National Insurance Company(NIC), Oriental Insurance Company(OIC)- to discuss about merger plans, scheduled on Apr 18, has been postponed to Apr 23

Debasish Panda, the newly appointed additional secretary,Insurance, Ministry of Finance, will be meeting the CMDs of three companies to brainstorm the key challenges- particularly on IT,HR and branch rationalisation- of the proposed mega mergers that would create the largest general insurer in the country with over Rs 45,000 crore of premiums and 30 per cent of the market share..

Max Life recognized among top 15 Indian BFSI employers

Max Life Insurance, has been recognized as one of the top 15 ‘Best Workplaces in BFSI (Banking, Financial Services and Insurance Sector)’ in a study conducted by the prestigious Great Place to Work institute. More than 600 companies participated in the survey this year, out of which 55 were from the BFSI sector.

Shailesh Singh, Director and Chief People Officer, Max Life Insurance said, “It is the culture of excellence, customer centricity and meritocracy along with a highly talented team that we have developed over the years, to help us being amongst the best today.’’

HDFC ERGO launches Overnight Vehicle Repair Service

HDFC ERGO General Insurance Company has announced the launch of Overnight Vehicle Repair Service. This new service will enable customers to get their cars professionally repaired overnight, thereby not affecting their daily routine and vehicle downtime.

Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance Company said, “The Overnight Vehicle Repair Service allows customers to get their cars repaired after the regular commuting hours and will be delivered back to their doorstep, making its ready to be used the very next day, without them having to compromise on their commuting routine.”

Apr 11

QBE appoints Inder Singh as chief financial officer

Australia’s QBE Insurance Group on Wednesday appointed Inder Singh as chief financial officer, replacing current CFO Michael Ford who joined the group less than a year earlier in May 2017.

Inder Singh is currently the chief financial officer for QBE’s Australian & New Zealand Operations, the company said in a statement.

This follows QBE recording an annual loss of about $1.2 billion in February and logging a $600 million earnings hit last October, impacted by a medley of natural disasters.