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Oil tankers steer clear of Hormuz ahead of US blockade
Trump’s announcement effectively slowed oil tanker movements in the...
Hedge Fund money is reshaping a 180-year-old reinsurance model
Reinsurers covered just over 10% of total insured catastrophe...
Threats, political repatriations and kidnap dominate global crisis management landscape, says Willis report
Will Miller, Head of Crisis Management, Asia Pacific at Willis said: “We continue to see clients impacted by a wide range of incident types across a broad geographical footprint, affecting both their people and physical assets. Although the increase in the number of...
Aim to open 20,000 Jan Aushadhi centers by the end of 2025: Union Health Minister JP Nadda
`The Jan Aushadhi Kendras, which provide quality medicines at affordable prices, have witnessed a 200 times surge in sales, enabling citizens to save Rs 30,000 crore in the last 10 years, the Union government said on Saturday New Delhi: Union Health Minister JP Nadda...
Indian entities may lose Rs 20,000 cr to cyber crimes in 2025: CloudSEK Report
"The biggest revelation from our research is the sheer scale of financial losses of over Rs 20,000 crore due to cybercrime, of which Rs 9,000 crore is due to brand name abuse alone. The fact that brand abuse is implicated in nearly one-third of all cybercrime...
Maruti domestic PV sales marginally up; Hyundai, Tata report decline in Feb
"MPVs and SUVs continue to be the primary growth drivers, contributing 68 per cent to overall sales," Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business Varinder Wadhwa said New Delhi: Leading passenger vehicle maker Maruti Suzuki on Saturday...
PSU general insurers promote record number of officials to fill up post of GMs and DGMs
GIPSA, the coordinating agency for the six PSU companies, has completed the largest ever promotional exercises in the industry and published the results to fill up 30 post of general managers and 97 deputy general mangers(DGMs) New Delhi: After creating a...
Status Quo: IRDAI retains general insurers’ Obligatory Cession for GIC Re at 4% in FY26
The percentage cession of the sum insured on each general insurance policy to be reinsured with the Indian Re-insurer (GIC Re), will be 4% (four percent) during the financial year beginning from 1st April, 2025 to 31st March, 2026, except the terrorism premium and...
IRDAI issues norms allowing insurers to use derivatives for hedging their equity portfolios
In line with these guidelines, insurers will be able to buy hedges in stock & index futures and options against their holding in equities subject to the exposure and position limits. The equity derivatives shall be used only for hedging purpose. Any OverThe...
AM Best affirms credit ratings of ICICI Lombard General Insurance
Despite its lack of underwriting profitability, ICICI Lombard has consistently outperformed India’s general insurance market. Underwriting performance showed a slight improvement in fiscal year 2024, mainly due to lower claims for motor and health insurance, although...
Swiss Re appoints Kera McDonald as its Group Chief Underwriting Officer
Swiss Re's Group Chief Executive Officer Andreas Berger said: "Underwriting is at the core of everything we do, and the re-establishment of this function underscores our commitment to enhancing technical excellence across all businesses.'' Zurich: Swiss Re announced...
Hong Kong’s Peak Re receives license to open office in GIFT-IFSC
Peak Re, the fourth reinsurer to get a license, has a total global business of $1.75 billion. It has already developed a major Indian portfolio, largely constituting Crop and Property, as a Cross Boarder Reinsurer(CBR) and gearing up to expand it further in the...