Gallagher Re estimated that the private insurance market and public...
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La Nina may return in September but temperatures to stay above normal WMO
WMO says that naturally occurring climate events such as La Nina...
Aon appoints Bonjay Koo as Enterprise Client Leader for South Korea
Aon plc today has appointed Bonjay Koo as Enterprise Client Leader,...
Gallagher launches new brokerage in Japan
Speaking on Gallagher’s expansion plans in Asia, Thomas Wang,CEO North Asia, said,`` “Gallagher has grown in Asia over the last few years and with a number of the emerging economic global powerhouses based in the region it is an area of expansion for us. Having a team...
Global Nat Cat economic losses reach $77 Billion in Q1 2023, the highest Q1 total in 12 years, Gallagher Re
Public and private insurance entities covered at least an estimated $22B of that total, resulting in a 72% or $55B protection gap, the portion of the economic loss not covered by insurance The February earthquake sequence in Turkey and Syria accounted for an estimated...
SC overturns SAT’s rulings against IRDAI, PJ Joseph and Marsh, upholds regulator’s order on `Marsh bribery case’
``The SAT has, ex-facie, gone wrong in observing that Atkins had relied on documentary evidence in support of the complaint. We have referred to the nature of the documents but we accept the argument of the IRDAI that these cannot constitute materials to trigger off...
Howden accelerates growth in the Gulf with the establishment of Howden Bahrain
Dalal Buhejji, Executive Director of Business Development for Financial Services at the Bahrain Economic Development Board, said: “In line with the Financial Services Sector Development Strategy under the Kingdom’s Economic Recovery Plan which outlines an overall...
Inclusion, diversity top driver of benefit strategies offered by companies: Survey
The survey further revealed that an increasing number of companies are now moving towards offering programmes under lifestyle risk management and target specific conditions. Diversity, equity and inclusion (DEI) programmes are the major social wellbeing initiatives...
Sebi to boost disclosure norms; do away with permanent board seats for individuals
Sebi also said that listed entities will be required to fill up the vacancy of Directors, Compliance Officer, Chief Executive Officer and Chief Financial Officer within a period of three months from the date of such vacancy to ensure that such critical positions are...
Expenses of Management(EoM): IRDAI fixes at 30% for general insurers,35% for health insurers
Premium in Rs, crore The new limit on EoM will be effective from April 1 The general and health insurers have to ensure that their expenses of management are within the allowable limit on the overall basis. Where the insurer has exceeded the allowable limits of...
Aditya Birla Capital exits insurance broking business; to sell its arm to Edme Services
The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital...
IRDAI removes caps on commissions paid to intermediaries within Expense of Management(EOM)
The government last Sunday has notified the new regulations, as approved by insurance regulator IRDAI , on the removal of cap on payment of commission to the intermediaries Oveall limit of Expense of Management(EoM) for the insurers will be fixed by insurance...
Medi Assist acquires Raksha TPA, to add approximately 3,000 corporates clients
``This acquisition aligns with Medi Assist's overall growth strategy, and expands our presence in the North and West regions of India and adds approximately 3,000 corporates to our client list. Raksha TPA adds 17 per cent to Medi Assist in terms of scale," said Satish...