Nayan Shah, managing director, Paramount TPA said, ``The IRDAI has...
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Apollo 24|7 forays into online insurance distribution, plans to launch products from 12 insurers
It has secured regulatory approval to operate as a corporate agent...
Gallagher expands in Türkiye with acquisition of Aspera
This move marks further investment by Gallagher as the country...
First Policy Insurance Brokers acquires Amicus Insurance Brokers
An in-principle approval for this transaction was granted by the insurance regulator, Insurance Regulatory and Development Association of India (IRDAI) on 5th August 2021. The merger process needs to go through a few more closure formalities, as specified in the Companies Act.
Major U.S. insurers jump on distribution platforms to gain customers, sales
The powerful new platforms, including Semsee, bolttech, Bold Penguin and Uncharted, pull data from many carriers, allowing agents to see multiple quotes for policies, much the way travel agents see competing air fares.
Chubb Ltd, Travelers Companies Inc and Liberty Mutual have signed on recently as have agencies that also sell policies, executives said.The growth of digital distribution represents a shift in how insurers compete in markets for auto and homeowner coverage as well as business and commercial lines worth hundreds of billions of dollars annually, experts said.
Carriers also benefit from being able to meet more of a customer’s needs, even if they are not selling their own policy.
Aon acquires 100% of its Indian JV, buys out 51% from Narayana Murthy’s Catamaran
Aon is the second intenational broker, after another USA based Galligher, that has now a fully owned company in India after the government allowed 100 per cent FDI in the domestic insurance intermediaries sector two years back.
PhonePe receives insurance broking licence from IRDAI
With over 300 million registered users,Phone Pe’s ‘direct broking’ license will allow it to distribute insurance products from all insurance companies across India.
Gunjan Ghai, vice president & head of insurance at PhonePe said, “This licence is a big milestone in our insurance journey as this move to broking will give us further momentum and accelerate our growth in this space. We are building a robust, full-service platform for our deeply engaged customer base through products in partnership with high quality insurers.”
Aon unveils a new team for its global operations
Joe Monaghan will assume the role of global growth leader and will have full responsibility for overall growth strategy. This includes developing innovation at scale and integrating practice groups, client segments, global specialties, capital advisory, securities and regional growth priorities and strategic growth leaders.
Ron Whyte joins Miller to lead broker’s expansion in Asia-Pacific
Whyte, who joins as Head of Strategic Development, will be based in Singapore and brings over 40 years of industry experience to Miller. His focus will be to drive Miller’s growth strategy in the Asia-Pacific region, bringing Miller’s exceptional capabilities and expanding its service proposition to clients and prospects. He will commence his role on 1 September 2021.
Willis Towers Watson selects Carl Hess as President and Future CEO
“Following a thorough, multi-year succession planning process, including input from a third-party consultant to assess the experience and attributes of potential internal and external candidates, the Board is confident Carl is the right person to guide the company forward,” said Victor Ganzi, Chairman.
Guy Carpenter appoints new president in Asia Pacific
Gallagher to acquire Willis Towers Watson plc Treaty Reinsurance Brokerage operations
Willis Re’s treaty reinsurance business operates in 24 countries, places over $10 billion of premium annually and represents over 750 insurance and reinsurance company clients.
Willis Towers mulls sale of reinsurance unit after halting merger
Reports this week suggested Gallagher was close to clinching a deal for Willis Re, but Willis Towers Watson Chief Executive Officer John Haley said he is considering wider possibilities.
“We’re conducting a review of strategic alternatives for Willis Re,” Haley told a conference call on Tuesday reporting on second-quarter results. While the timing was “appropriate” given the failed merger, he warned that a sale was not assured.