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Magma HDI General Insurance ties up with Mahindra Finance
Magma HDI General Insurance Company has entered into a corporate...
Aon appoints of Anne Corona as CEO of Enterprise Clients and global chief commercial officer
This appointment is part of Aon's strategy to advance its...
Building trust is key to addressing underinsurance in mature markets: Geneva Association Customer Survey
Jad Ariss, Managing Director of The Geneva Association, said: “Contrary to general belief, protection gaps are not limited to emerging countries. They are also common in advanced economies. It is encouraging that, according to the survey’s results, people widely understand what insurance is about and its vital role in the economy and society. However, the research also reveals misperceptions of insurers and their products. Addressing this mismatch will be essential to encouraging a wider adoption of insurance in mature economies.”
BGC Insurance Group to establish new global aviation brokerage
Andrew Wallin, Chief Commercial Officer, BGC Insurance Group, said: “The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale. For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential.”
Not Amazon, Instagram is likely to dominate the future of online retail
Retailers need to be where their customers are, and increasingly, that’s Instagram, which has 1 billion monthly users. Its fashion following also makes it a place to show off the hottest styles and in-season merchandise. That’s better for margins than selling on a platform where price is the main driver — another knock to Amazon.
Gallagher picks up a miniority stakes in Edelweiss Insurance Brokers
“EIBL presents an exciting opportunity to expand Gallagher’s commercial insurance footprint in India, in keeping with our growth strategy to invest in market-leading businesses that broaden our specialist capabilities and diversify our geographic presence,” said J. Patrick Gallagher, Jr., Chairman, President and CEO.
PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports
New Delhi has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trillion ($130 billion), or nearly 5 per cent of the nation’s gross domestic output.
Reliance entry to digitise 5 million kirana stores by 2023: Report
As much as 90 per cent of India’s USD 700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries.
Marsh & McLennan receives final regulatory approvals on buying JLT on April 1
The $5.6 billion deal, which was hammered out in about 11 days between MMC CEO Dan Glaser and JLT Group CEO Dominic Burke, looks to b one of the largest ever involving insurance brokers. Last year, KKR & Co. and Canada’s Caisse de Depot et Placement du Quebec acquired USI Insurance Services for $4.3 billion
MARSH increases stake in MARSH India to 49%
Alex Moczarski, Chairman of Marsh & McLennan Companies International and chairman of the board of Marsh India, said: “As companies in India look to expand both domestically and into international markets, they need the very best risk and insurance advice to help them navigate an increasingly complex global risk landscape. We are committed to working closely with our colleagues in India as they continue to bring the very best global expertise to local clients.”
Bharti AXA Life Insurance hires 10,000 insurance advisors and sets up 50 new branches across India
The annualised new business premium grew 48 per cent to Rs 422 crore in the first nine months of 2018-19 against Rs 286 crore in the similar period of 2017-18. The company posted 19 per cent growth in its renewal premium Rs 742 crore in the first three quarters of this fiscal, as compared to Rs 623 crore in the same period during the financial year 2017-18
Irdai panel suggests host of steps for speedy settlement of insurance claims
The WG has also suggested that in respect of crop insurance, the recognised qualifications of surveyors and loss assessors may be expanded to include graduation with at least one subject being agricultural science from a recognised university.