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Willis appoints Vijay Nair as Head of Tax Insurance, Asia Pacific
Willis, a WTW business, appointed Vijay Nair as Head of Tax...
CCI clears merger of InsuranceDekho and RenewBuy entities
CCI said it has approved the proposed combination involving the...
India poised to become world’s most populous country this year: Report
People under the age of 25 account for more than 40 per cent of India's population. Unlike India, the other two most populous countries in the world, China and the US, have rapidly ageing populations. The fertility rate in India is higher than that of China and the...
Global insured losses from natural disasters exceed $130 Billion in 2022, second-costliest event on record: Aon
Data show that 2022 was the fifth costliest year on record for insurers, with approximately $50-55 billion of the global insured loss total resulting from Hurricane Ian in the United States - the second-costliest natural catastrophe in history from an insurance...
WTW outlines “New Trilemma” of challenges for renewables-sector risk managers
: “Macro events and trends such as inflation, cost increases, security, and supply chains are impacting the renewable energy industry, making the current business environment a challenging one for risk managers. Several important steps will help them to assess their...
WTW combines Asia and Australasia into one Asia Pacific, appoints Simon Weaver to head new region
Based in Australia, Simon is responsible for driving business growth throughout the newly integrated region, enabling closer collaboration across the businesses to deliver superior advice, broking and solutions in the areas of people, risk and capital to organisations...
InsuranceDekho receives Rs 300 crore of funding from Goldman Sachs Grp, valued at Rs 1100 crore
The sole source of income for Insurance Dekho is insurance brokerage and commission, which increased by 61% to Rs 47.91 crore in FY22 from Rs 29.71 crore in FY22. In the most recent fiscal year, the company’s losses increased by 55.6% to Rs 72.29 crore. At the group...
Jan1Renewals: Reinsurers hike rates on key business lines by as much as 200%, exclude Russia and Ukraine
Aviation reinsurance rates, heavily impacted by hundreds of stranded aircraft in Russia, rose by as much as 200%, Gallagher Re said. “The sector is experiencing its most acute, cyclical price increases since the 2001-2006 period, if not before,” said David Flandro,...
Google, YouTube content providers must face US children’s privacy lawsuit
The lawsuit alleged that Google’s data collection violated similar state laws, and that YouTube content providers such as Hasbro Inc, Mattel Inc, the Cartoon Network and DreamWorks Animation lured children to their channels, knowing that they would be tracked U.S....
China in a bind: Whether to recover economy or control Covid spike
Analysts have forecast China's economic growth to slump to 2.8-3.2 per cent this year, which would be the lowest in five decades. China has, for the first time, officially acknowledged Covid deaths in recent weeks. This has given credibility to reports of heavy death...
IRDAI asks re/insurers not to use IIB burning rate as minimum rates within `Reinsurance Treaty Agreements’
Given the tough conditions at 1/1 renewals and shortage of proportional capacity that is being witnessed elsewhere for India reinsurers may insist on more retention and trend will continue for non proportional arrangements . At the same time as the non IIB rates are...
Insurers may refuse to cover planes flying to Ukraine or ships sailing through Black Sea
As they operate on an “aggregation” basis with marine and aviation war risk insurance, totting up the losses as one, claims in one area make reinsurers wary about the whole war risk sector, David Smith, head of hull and marine liabilities at broker McGill and Partners...