Gulf insurers are heavily reinsured but global reinsurers have...
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US rules out renewal of exemption from sanctions on Russian Iranian oil
On March 5, the US issued a 30-day sanctions waiver to India,...
Iran offers proposal allowing ships to exit Oman side of Hormuz free of attack, source says
Hundreds of tankers and other ships and 20,000 seafarers have been...
Universal Sompo launches vision insurance plan
Universal Sompo General Insurance on Thursday launched a vision insurance plan under its Group Health Insurance product. The wellness benefits under the Vision Insurance Plan are powered by VisionSure, which integrates technology with various service providers to...
Allianz and Mukesh Ambani’s Jio Financial may have reached initial deal for 2 Indian insurance JVs
The move comes as the German insurer agreed earlier this week to sell its stake in joint ventures with Bajaj Finserv Ltd. Both Jio and Allianz are in the process of finalizing the ownership structure, said the people who asked not to be identified as the matter is...
UK’s Prudential forms JV with IT major HCL for Health Insurance foray in India
Anil Wadhwani, Chief Executive Officer, Prudential plc The health insurance JV will be led by Amar Joshi (CEO designate), subject to regulatory approval `` Transforming access to healthcare and increasing insurance penetration are strategic priorities for Prudential...
Need safeguard measures before raising FDI limit to 100 pc in insurance: Par Panel
Bhartruhari Mahtab,chairman, Standing Committee on Finance The Committee would like to emphasise the need for some safeguard measures to be in place to counter concerns like profit repatriation i.e. foreign investors sending earnings back to home countries rather than...
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...