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RBI faults Indian insurers’ high-cost distribution strategies
Premium growth in the Indian insurance industry has been...
JSW MG Motor India announces an industry-first extended assured buy back program for its EVs
“With our industry-first MG Value Promise Program (Assured...
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,...
Howden forays into Japanese captive consulting and management markets with acquisition of Foresight
Takuya Aibe as CEO of Howden Japan’s retail business Foresight is headquartered in Tokyo with 17 staff across six offices and a management team that have previously held senior roles at leading Japanese insurance companies; it manages captives for 13 large Japanese...
Marsh looks for a new president for its Broking vertical in India
It is reliably learnt that the company is keen to have an insider from the Indian insurance industry to be appointed as a president of Marsh India Insurance Brokers and has hired a headhunter for the exercise Singapore: US based Marsh McLennan, the largest...
DBS looks for bancassurance partnership in India and Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential bancassurance agreements for those markets, the people said, asking not to be identified because the deliberations are private DBS Group Holdings Ltd. is considering forming...
Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group, said: “The threat of cyberattacks poses a significant risk to both societal and economic stability. As insurers, we can offer some degree of protection, but we must acknowledge that large-scale,...
IRDAI approves take over of Aditya Birla Insurance Brokers by Edme
Rs 455 crore deal had got stuck for over 18 months as the IRDA had refused give its approvals in the absence of certain key information about the transaction Mumbai: Allowing the entry of private equities(PEs) in the insurance broking sector, after almost 18 months...
Prasun Sikdar set to become the first CEO of Bima Sugam
Prasun Sikdar,MD & CEO designate, Bima Sugam India Federation Sources point out that a formal decision to appoint Sikdar, who is already a board member of the Bima Sugam India Federation, as the CEO of the company has been taken by the IRDAI in consultation with...
Chinese firm Tencent sells 2.1% in PB Fintech for Rs 1,668 crore; SBI MF, SocGen pick up stake
The shares were disposed of at an average price of Rs 1,719.75 apiece, taking the transaction value to Rs 1,668.15 crore. After the share sale, Tencent's sharehdoling in PB Fintech has declined to 2.13 per cent from 4.26 per cent New Delhi: Chinese conglomerate...