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'...
Red Sea insurance rates to stay firm as US airstrikes raise fears for ships
War risk premiums briefly eased to around 0.5% of the value of a ship after the January announcement from over 0.7% in December, before moving higher in February to 0.7% for some voyage rates. For some U.S. and UK linked ships, rates were quoted up to 2% in recent...
Home Insurance- Gaining Momentum in India’s Real Estate Market
Insurers are increasingly introducing innovative, customer-centric solutions to meet evolving consumer needs. For example, ‘pay-as-you-use’ home insurance allows coverage for specific periods, such as 10 days when homeowners are away on a trip, this can also be...
Yokahu launches first independent Parametric Exchange to transform disaster risk finance
The platform enables real-time risk assessment, pricing, and seamless capacity allocation, broadening the ability of parametric (re)insurance to play a vital role in climate resilience and disaster preparedness London: Yokahu, a leading innovator in parametric...
Direct insurers to send motor claim compensation to claimants bank accounts, SC to courts and tribunals
"The general practice followed by the insurance companies, where the compensation is not disputed, is to deposit the same before the tribunal. Instead of following that process, a direction can always be issued to transfer the amount into the bank account(s) of the...
Hinduja group’ IIHL completes acquisition of Reliance Capital; mgmt transfer to take place on Wednesday
The journey for value creation would now begin, Ashok Hinduja said, adding that the value of the Reliance Capital business on a conservative basis would be Rs 20,000 crore. IIHL would complete the review of the entire RCAP business and take a call on the fund infusion...
Allianz exits 2 Bajaj insurance JVs by selling its 26 % for Rs 24,180 crore, to set up new Indian insurance companies
Allianz, which had invested just Rs 174 crore in both the JVs way back in 2001 , is expected to start new insurance new companies in India soon either by partnering with another Indian company or with full ownership after the government allows 100 per cent FDI in the...
Religare Enterprises seeks governance review, funding from Burman family
The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing New Delhi: India's Religare...
IDRAI asks insurers to keep their offices opened during Mar 29-31 including Saturday & Sunday
The insurers have to give adequate publicity to the special arrangements made for the last 3 days of the month Hyderabad: Insurance regulator IRDAI has asked all the insurers to keep their offices open as per normal working hours on 29th(Saturday), 30th(Sunday) and...
GFIA urges Sithraman to reconsider rules imposing additional restrictions on insurers with foreign partners
Finance Minister Nirmala Sitharaman In the letter, GFIA noted that foreign insurers play a pivotal role in India’s insurance market since its liberalisation in 1999, with over two-thirds of Indian life and non-life insurers having foreign partners. However, several...
At least 33 dead as tornadoes ravage central US
"Numerous significant tornadoes, some of which may be long-track and potentially violent, should continue into this evening," the National Weather Service said At least 33 people were killed and dozens more injured Saturday when tornadoes and violent storms raked...