Globally, reinsurers are on track to produce a combined ratio near...
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Jan 1 renewals see softening of reinsurance pricing, favourable market conditions to persist in 2025: Howden
After an extended period of rate increases across the (re)insurance...
Embracing 2025: Year of Purpose & Opportunities
2024 has been a pivotal year for the Indian insurance industry,...
18 PSBs hit by fraud cases of Rs 1.17 trn in Apr-Dec of FY20
SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period ended December 2019. This is about 26 per cent of the Rs 1,17,463.73 crore, which is the total amount of reported cases of banking frauds in PSBs during this period, he said.
Cabinet okays changes to bank laws to avoid repeat of PMC Bank-like crises
There are 1,540 cooperative banks with depositor base of 86 million having total savings of about Rs 5 trillion.
Aon acquires Canadian cyber security firm Cytelligence Inc
Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025. According to Aon’s 2019 Global Risk Management Survey, cyber-attacks were identified as a top ten risk facing organizations and is predicted to be one of the top three risks for organizations in 2022.
IRDAI issues guidelines on group health insurance policies of merged PSBs
Upon merger of these PSBs, the underlying group health Insurance policies of the customers of the merged banks will be continued to be serviced by the respective insurance companies which issued the policies till the end of policy period. The insurance companies will make suitable arrangements with the acquiring banks to this effect.
Banks should sell life insurance products more aggressively:LIC chief
According to K Ganesh, member, Life, the major challenge in the industry is to convince people to take life insurance. According to him, schemes like Jan-dhanYojana, PMJJY, PMSBY and Jan Arogya scheme have been instrumental in increasing customer protection.
Cholamandalam GI and Toyota Tsusho lnsurance Broker penalised for violating MISP norms
Maruti lnsurance Broking Hero lnsurance Broking lndia have brought stays from the Securities Appellate Tribunal (SAT) against IRDAI’s decision to fine them for violating the Motor lnsurance Service Provider (MISP) norms
IRDAI slaps a Rs 3 cr penalty against Aditya Birla Insurance Brokers for violating MISP norms
IRDAI has found fault with ABIBL as the broker has directly or indirectly controlled or interfered in determining of premier of policies.
Gallagher expands Asian presence with stake in specialist Malaysian broker
As an aviation-centric broker since 1974, SP&G represents a natural and complementary fit with Gallagher’s global aerospace division, which has operations in the UK, US, Canada, Australia, New Zealand and 10 other countries spanning Europe, Latin America and Asia — but, to date, no on-the-ground operation in Malaysia.
Prudential Vietnam and SeABank establish exclusive bancassurance partnership
Prudential Vietnam will also become the preferred life insurance provider to BRG Group Joint Stock Company (“BRG Group”), a leading conglomerate in Vietnam with approximately 10 million customers. The partnership is expected to be effective from April 2020.
Guy Carpenter appoints Jeff Saper as CEO of Pacific Region
In his new role, Mr. Saper will be responsible for overseeing the company’s Treaty and Facultative activities in the Pacific region and will focus on further developing its growth strategy and strengthening its capabilities. Based in Sydney, Mr. Saper will report to Tony Gallagher, Asia Pacific CEO.