The industry's domestic recovery in FY26 was driven by multiple...
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New Insurance Act enshrines transparency in IRDAI’s functioning: Ajay Seth
Ajay Seth, chairman, IRDAI ``To my mind, that was the first time an...
Ex-Credit Suisse team plans $1 billion Fund for Data Center Risk
It would be the first time a product in the market for...
PSU general insurance industry Unions reject govt’s 12% wage hike proposal
Unions want a 17 per cent hike to be on par with the Life Insurance Corporation(LIC) and the Indian banking industry. GIPSA management has assured the matter would be taken up again with the Department Financial Services for further consideration, according to union...
Into the Cyberverse: Industry must prioritise product innovation and investment
Luke Foord-Kelcey, Global Head of Cyber, Howden Re, commented, “Cyber is maturing into a distinct asset class with diversified reinsurance product offerings. Cedents must continue to evaluate reinsurance purchasing strategies critically and holistically, ensuring...
IFSC-GIFT City based insurers should develop products for tapping 32 million NRIs and Indian diaspora: IFSCA chairman
Narendra Bharindwal, president, Insurance Brokers Association of India, K. Rajaraman, Chairman, IFSCA , T Alamelu, principal advisor, IFSCA at the launch of IBAI's chapter at IFSC- GIFT City ` There is a huge retail opportunity for the IFSC-GIFT City based insurers...
U.S. insurers face higher loss costs and market risks from trade war: Fitch
Property casualty (PC) insurers face cost inflation in personal auto and homeowners’ lines from tariffs. Other watch items include increased severity of claims pressuring margins, and the effect of market volatility and potential losses on equity portfolios New...
Hurricanes and earthquakes could lead to global insured losses of $ 300 billion in a peak year, Swiss Re
Balz Grollimund, Swiss Re's Head of Catastrophe Perils, said: "Our recent analysis of over 200 in-house models and the loss trend over the last 30 years show what is at stake: When a severe hurricane or a major earthquake hits an urban area in a country with...
`Golden hour’ cashless treatment scheme for road accident victims to be implemented within a week, Govt to SC
Additional Solicitor General Vikramjit Banerjee appearing for for the Centre submitted that the GI Council was not cooperating. He informed the Court that the GI Council wanted to check the status of insurance policies of the victim before releasing funds and had...
Wage Revision: Meeting among GIPSA, DFS and unions of 6 PSU general insurance cos postponed to Apr 30
On Sunday afternoon, GIPSA had informed the unions that the meeting has been postponed due to an urgent engagement of DFS officials New Delhi: Disappointing 35,000 work force of the PSU general insurance industry, the much awaited meeting among all the stake holders...
Finmin targets to introduce Insurance Amendment Bill in Parliament during monsoon session
Nirmala Sitharaman,Finance Minister Finance Minister Nirmala Sitharaman in this year's Budget speech proposed to raise the foreign investment limit to 100 per cent from existing 74 per cent in the insurance sector as part of new-generation financial sector reforms New...
Bajaj Allianz General unveils retail parametric cover for climate risks
L to R -Alpana Singh, Head - Bancassurance, Agri and Govt Business, Bajaj Allianz General Insurance (BAGIC),Kripan Ghosh, Deputy Director General and Head, Agricultural Meteorology Division, Climate Research and Services, IMD Pune, Tapan Singhel, MD & CEO,BAGIC at...
Shifting Gears: Cautious mid-term outlook for global motor insurance as challenges persist, says Swiss Re
Swiss Re's Chief Underwriting Officer Casualty Laure Forgeron said: "The global motor insurance market is both dynamic and rapidly evolving. At this moment, the introduction of new tariffs will have a material impact by increasing repair costs and putting supply...