Christopher Au, Head of APAC Climate Risk Centre, at Willis, said:...
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IRDAI closely monitoring health insurance claims gaps, says Chairman Seth
Ajay Seth, chairman,IRDAI `While the number of health insurance...
Ageas Federal Life strikes distribution partnership with Muthoot Microfin
Ageas Federal Life Insurance has announced a strategic distribution...
Marsh fined Rs1 crore by IRDAI for violating Indian re/insurance regulations
The broker did not remit the premium to the insurer/reinsurer within the time limit of 15 days. In view of the above and a history of similar violations persisting for long, where in some cases, the delay in remittance of premium was observed to be more than 900 days,...
Prasun Sikdar likely to join as CEO of Bima Sugam on Nov 1
Prasun Sikdar, MD & CEO, designate, Bima Sugam Federation ``I am truly excited about the journey ahead and the potential to democratise and universalise insurance in Bharat. Our commitment to enhancing affordability, accessibility, and availability is crucial as...
Bridge Specialty International completes acquisition of Singapore-based Acorn International Network
Tim Coles, Chief Executive Officer of Bridge Specialty International, said: “This acquisition establishes us in the Singapore insurance market, further expanding our Asia presence and enabling us now to build a leading wholesale and specialty hub in the region. David...
Absence of major losses paves the way for competitive pricing in power insurance sector: WTW
A shift in appetite from coal to non-coal power and the phasing out of underwriting existing coal risks have combined to encourage insurers to seek new opportunities in deploying their capital. We are seeing an increasing number of insurers seeking to offer long-term...
WTW to sell insurance distribution unit to public-equity firm for $632.4 million
“With the sale of Tranzact, we are exiting this direct-to-consumer market and accelerating our progress toward our long-term free cash flow margin goals,” WTW CEO Carl Hess said Willis Tower Watson said Tuesday it would sell its direct-to-consumer insurance...
Marsh McLennan strikes $7.75 bln deal for McGriff Insurance Services
Marsh McLennan said it expects the deal, struck through its Marsh McLennan Agency business, to enhance the unit's capabilities across commercial property and casualty, employee benefits, management liability and personal insurance lines Marsh McLennan, the largest...
Ardonagh’s A$2.3 billion acquisition receives approval from PSC shareholders
“Combining the best of PSC and Ardonagh will strengthen the Group’s global position in the retail, specialty and wholesale broking markets to deliver greater scale and efficiency benefits to clients, insurers, brokers and agencies. PSC’s culture and values are closely...
Tokio Marine Kiln and Marsh launch exclusive $50 million market-first trade disruption facility for ports and terminals
Through the offering, ports can now secure an additional cover should certain wider events beyond their control lead to ships being diverted away from or refusing to sail to their facilities. The facility also provides additional cover for ports impacted by blockages...
Businesses in APAC taking longer to convert working capital into cash, affecting liquidity: Aon
According to the report, the average days receivable for Asia Pacific companies for year ending 2023 was 71 days. Although a small increase from 2022, an increase in days receivable reflects a decrease in working capital availability and indicates slower collection of...
Central Europe flooding could cause billions in insurance losses, analysts say
According to re/insurance broker Gallagher Re's estimate, insured losses are likely to range between EUR 2.0 – 3.0 billion (USD 2.2 – 3.3 billion) The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions,...