The initiative is in alignment with the recognition of the year...
Category:
Non-Life
Latest
Hormuz traffic plunges sharply, daily vessel crossings drop to 10 from 135 in Feb: S&P Global Energy
The slowdown has led to severe congestion, with around 850 oil...
IRDAI meets stakeholders of healthcare industry,forms 5 Working Groups for addressing critical challenges in health insurance
"The collaboration between payers and providers is essential for a...
Narendra Bharindwal appointed as president of IBAI
Narendra Kumar Bharindwal, President, Insurance Brokers Association of India Led by US based Marsh, the largest re/insurance broker in the world, Indian re/insurance brokers manage almost over Rs50,000 crore of premiums annually. Over 95 per cent of premium is managed...
Announcements by US to have substantial implications for global trade: WTO DG
"While the situation is rapidly evolving, our initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1 per cent in global merchandise trade volumes this year,...
Protection Gaps: Globally insurance business expected to worsen through 2030
Costs from global ransomware damage are expected to climb to more than $250 billion within the next six years, and actions by individual carriers will not be sufficient to address future risks, a new research released by Bain & Company warns Protection gaps are...
Firm issued fake insurance for Russian oil tankers, Norway’s regulator says
Such vessels are not regulated or covered by conventional Western insurers, posing the risk of unsafe tankers and environmental damage in the event of a wreck. The insurance issued to dozens of aging oil tankers used by Russia to skirt international sanctions was...
New India celebrates `Bima Jagruti Mahotsava’ in Gujarat
Furthering its commitment to financial inclusion, NIA has opened a dedicated State Insurance Plan office in Gujarat, manned by a senior executive of the company. This initiative aligns with IRDAI’s “Insurance for All by 2047” vision, with Gujarat being the designated...
Govt forms high powered panel to revamp pricing and reinsurance mechanisms for PMFBY
The committee will be chaired by additional secretary (Crop Insurance), Department of Agriculture & Farmers Welfare (DA&FW) and some of the other members are Devesh Srivastava, former CMD, GIC Re, Girija Subramanian, CMD, New India Assurance, Saurabh Mishra,...
Allianz scraps nuclear, military exclusions to back Europe’s rearmament drive
AGI wrote to its clients late last week to advise that its sustainable funds could now buy into companies that earned more than 10% of their revenue from military equipment and services. Germany’s Allianz Global Investors has dropped two exclusions blocking its...
Automakers clock robust SUV sales in India in March amid resilient economy
Among the top performers, Maruti Suzuki, Mahindra & Mahindra, and Kia India showcased impressive growth in their SUV sales. New Delhi: The Indian automakers on Tuesday reported strong sales figures for the month of March, particularly in the SUV segment, driven by...
LIC’s potential stake in ManipalCigna to boost health insurance market: JP Morgan
LIC is reportedly in the final stages of acquiring a significant minority stake in ManipalCigna Health Insurance, a standalone health insurer. The deal, valued at Rs 3,500-3,700 crore, would see LIC owning 40-49 per cent of ManipalCigna, which is currently owned by...
APR 1 Renewals: Indian general insurance industry rejoices with soft pricing, surplus capacity and market discipline
GIC Re and Foreign Reinsurance Branches (FRBs) and IIO reinsurers in GIFT-IFSC came in strong support of the market at Apr 1 renewals ``Yes, we did write more business than last year. Generally, we found the market to be soft with rates either below or same as...