Gulf war risk premiums have risen fivefold in recent days compared...
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Middle East Crisis:Global Marine re/insurers issue notices of cancellation(NOC) under standard 7-day war clauses
Additional premiums for vessels transiting high-risk waters are...
Miller expands reinsurance offering into MENA through acquisition of Shields
James Hands, CEO, Miller, said, “Miller has worked with clients in...
Irdai chairman Ajay Seth launches Bima Sugam website
``The launch of the website today is an important milestone, and I am confident that with collective industry commitment, the vision of 'Insurance for All by 2047' — as part of the Prime Minister's mission of Viksit Bharat 2047 — will become a reality. Ajay...
North Korean hacking grp uses ChatGPT to create a deepfake to attack South Korean target
Attackers used the artificial intelligence tool to craft a fake draft of a South Korean military identification card in order to create a realistic-looking image meant to make a phishing attempt seem more credible, according to research published Sunday by Genians, a...
US PE giant Blackstone buys majority stake in Ace Insurance Brokers
Ace Insurance Broker known for arranging major covers for Adani Group Market sources say Blackstone has acquired 70 per cent of Ace , set up by Raj Vinay Ajmera and Anil Arora, for over Rs 1700 crores Though, Blackstone has majority stakes with a five year lock in...
WTW and SOMPO announce global partnership to deploy Radar for its non-life insurance services
Tadashi Yamanaka, executive officer of System at Sompo Direct Insurance Inc. said, “The introduction of Radar has enabled us to rapidly implement premium revisions that reflect changes in market, accident trends and customer risk profiles more accurately. We will...
Global P&C insurance market sees efficiency, capacity and resilience: Swiss Re
Jérôme Jean Haegeli, Swiss Re's Global Chief Economist, says: “The rapid expansion of the P&C market is not only about scale, but also about greater capability and resilience. Insurers have become more efficient at pricing, managing and transforming risk,...
Global reinsurance dedicated capital increases 5% to $805 billion in H12025: Gallagher Re
Gallagher Re estimated that the private insurance market and public insurance entities covered at least USD84B38 in losses from natural perils in 2025 HY, increasing from USD61B39 as originally reported for 2024 HY. This represents the costliest H1 for the industry...
La Nina may return in September but temperatures to stay above normal WMO
WMO says that naturally occurring climate events such as La Nina and El Nino are taking place in the broader context of human-induced climate change, which is raising global temperatures, intensifying extreme weather and altering seasonal rainfall and temperature...
Aon appoints Bonjay Koo as Enterprise Client Leader for South Korea
Aon plc today has appointed Bonjay Koo as Enterprise Client Leader, Asia Pacific in South Korea effective September 1. In this strategic role, Koo will be responsible for the delivery of integrated Risk Capital and Human Capital solutions to Aon’s enterprise and large...
Cashless Chaos: AHPI asks 7 health insurance firms to revoke suspension, create affordable & sustainable model
Niva Bupa Health Insurance on Monday said it has suspended the cashless treatment facility at Max Hospitals across India. Bhabhtosh Mishra, Director and COO of Niva Bupa Health Insurance, said the company’s agreement with Max expired in May 2025. Talks over premium...
Willis expands into specialty lines, hires talent in Japan
The Japanese general insurance market is projected to grow from JPY11.7 trillion (US$81.1 billion) in 2024 to JPY12.7 trillion (US$93.9 billion) by 2028, at a compound annual growth rate of 2.2%. TOKYO: Willis, a WTW business, today announced a significant expansion...