London market sources said AI's premium has just risen by around 10...
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Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said:...
Lloyd’s of London receives license to set up operations in India’s GIFT-IFSC
Two of Lloyd's Syndicates, Syndicate 2047 set up by Bobby Swarup'...
74% employees prioritise long-term benefits over bigger paychecks: Report
Around 74 per cent of employees interviewed stated that they would choose a slightly lower salary in exchange for stronger long-term benefits such as health insurance, retirement planning, and education support, a report by staffing solutions and HR services provider...
Acko General Insurance penalised Rs 1 cr by IRDA for violating regulations
According to the IRDAI order, even where outsourcing is given to an intermediary, the insurer retains the responsibility for all regulatory obligations and proper due diligence and monitoring of the outsourced service provider and the services provided Hyderabad/...
Recent rainfall unlikely to damage major crops will boost production: Agriculture Secretary
"No damage has been reported so far due to sudden rainfall. It will benefit summer (zaid) crops such as moong, maize and paddy," Agriculture Secretary Devesh Chaturvedi New Delhi: The recent rainfall following extreme heat conditions across parts of the country has...
Russia to defend its vessels in the Baltic Sea by all legal means
The comments come as Baltic nations grow increasingly concerned about the activity of vessels that haul Russian barrels overseas, a key revenue source for the government in Moscow. They’re worried these ships could cause security breaches, damage power and internet...
Aircraft lessor SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
That brought SMBC’s total recoveries from claims following the sanctions over Moscow’s war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements Dublin: Aircraft lessor...
Japan’s 3 major casualty insurers plan to sell $9.5 billion of cross-held shares
Eliminating cross shareholdings is seen by many as a yardstick for measuring corporate governance reform at Japanese companies. Japan’s industry body for non-life insurers told its members in September to cut their cross-shareholdings in the aftermath of a...
Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost savings and insurance payouts, it said Wednesday. Online clothing and home orders, which account for more than £3 million of sales a day and have been suspended for more than three weeks, will be disrupted...
Bajaj Group get CCI’s nod to acquire Allianz’s 26 pc stake in insurance JVs for Rs 24,180 cr
"CCI approves the proposed combination involving acquisition of stake in Bajaj Allianz Life Insurance Company, Bajaj Allianz General Insurance Company and Bajaj Allianz Financial Distributors by Bajaj Finserv, Bajaj Holdings & Investment and Jamnalal Sons," the...
Geneva Association report calls for action to safeguard home insurance amid rising extreme weather risks
“Extreme weather is no longer a future threat – it’s disrupting lives and businesses today. But we’re not powerless. By urgently investing in stronger local building standards, nature-based solutions, and climate-resilient infrastructure, we can protect people and...
EU likely to propose to G7 lowering price cap on Russian oil to $50 per barrel
The G7 price cap was agreed in December 2022, banning trade in Russian crude oil transported by tankers if the price paid was above $60 per barrel and prohibiting shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe,...