Despite its lack of underwriting profitability, ICICI Lombard has...
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Bermudian reinsurer Partner Re ventures into India’s GIFT City
``PartnerRe’s GIFT City branch will provide support to Indian...
India braces for unusually hot March; wheat, rapeseed crops at risk
"Maximum and minimum temperatures in northern and north-western...
Aon appoints of Anne Corona as CEO of Enterprise Clients and global chief commercial officer
This appointment is part of Aon's strategy to advance its commercial capabilities by deepening commercial alignment, integration of data and analytics and service excellence globally to better service clients DUBLIN: Aon plc today announced the appointment of Anne...
wefox agrees to sell insurance carrier to a group of Swiss companies led by BERAG
wefox has agreed to sell the insurance company to a group of Swiss companies led by BERAG. BERAG is an independent Swiss provider of pension services and in recent years has represented wefox Insurance AG as an MGA in Switzerland and built up the daily sickness...
India passenger vehicle sales up 4 pc to 3.5 lakh units in Nov
Maruti Suzuki India sold a total of 181,531 units, including domestic sales of 144,238 units, against 1,34,158 units in the year-ago month which is a growth of 5.5 per cent New Delhi: The passenger vehicle (PV) sales in India increased about 4 per cent (year-on-year)...
ACKO’s 2024 Accident Index:78% of all road accidents in India occur in metro cities
Most Accident-Prone Cars Hyundai i10 topped the list as the car involved in the highest number of accidents, followed by the Maruti Suzuki Swift and Maruti Suzuki Baleno. Hyundai i20 and Maruti Suzuki Dzire ranked fourth and fifth, respectively Mumbai: Metro cities...
Insurance (Amendment) Act, 2024: Govt has no composite plans for LIC and PSU general insurance companies
To enable PSU insurers to avail composite licenses, the government needs to amend the two existing Acts- The Life Insurance Corporation Act of 1956 and the General Insurance Business (Nationalisation) Act, 1972 (GIBNA). But, no such provisions have been made in the...
UK expands sanctions against Russian oil fleet and its insurers
The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie Plc and VSK, which are “carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector,” a statement said. Both firms...
Govt seeks to overhaul Indian insurance sector with extensive reforms measures
Insurers to be allowed to do certain other business, in addition to insurance business, enabling additional stream of revenue for insurers - like carrying of guarantee or indemnity business, managing and selling property possessed by company in satisfaction of claims,...
Finmin proposes to raise FDI in insurance to 100%, seeks public comments by December 10
According to an office memorandum dated November 26, 2024, it is proposed to amend certain provisions of insurance laws to ensure accessibility and affordability of insurance to citizens, foster expansion and development of the insurance industry, and streamline...
DFS secy asks 4 PSU general insurers to bring down their underwriting losses and guard market share
M Nagaraju, after becoming the DFS secretary, held his first review meeting with the four state owned general insurance companies in New Delhi on Tuesday New Delhi: M. Nagaraju, secretary, Department of Financial Services (DFS), has asked the four state owned general...
Railways paid only 22 claims under Optional Travel Insurance Scheme in five years
Responding to questions regarding the number of victims who had availed of insurance through e-tickets, Railways Minister Ashwini Vaishnaw said 22 claims were registered under the Optional Travel Insurance Scheme during the period from November 1, 2019, to October 31,...