S. Sivasankar, Executive Director,New India Assurance The FSIB has...
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FY26 Performance: Indian general insurance underwriting losses surge 54% to Rs 46,632 crore,profit plunges 92% to Rs 953 crore
The underwriting blowout has virtually wiped out industry...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled...
Major quake hits southern Japan, workers missing after mall blast
“We have already been informed that people have been injured. Power outages and fires have occurred in some areas, and there has also been damage to roads and bridges and the collapse of buildings,” Japanese Prime Minister Sanae Takaichi said. A 7.1-magnitude...
French and Spanish firefighters battle wildfires for a sixth consecutive day
Spain’s fires were fueled by a combination of weather, mainly because the country suffered three heat waves between June and mid-July, depleting soil moisture, along with denser-than-usual vegetation following an unseasonably rainy winter. Similar reasons are being...
Record-low Danube levels expose shipwrecks
Danube levels fell to record lows this week in Croatia and Serbia, exposing hundreds of square kilometers of sand banks, following the summer’s prolonged heatwaves and drought that have affected waterways across Europe. Dozens of boats in a marina in Serbia’s northern...
Saudi Arabia-bound Supertanker U-turns before Houthi chokepoint
It’s not clear what exactly prompted New Champion’s U-turn. Some providers of shipping insurance have in recent days been unwilling to offer coverage for any vessels calling at Saudi Arabia due to the risk of attacks, according to ship and insurance brokers. A Hong...
IRDAI cracks down on 99% Fire Insurance discounts amid pricing war
Although India's general insurance market has been de-tariffed, allowing insurers to determine their own pricing since Apr 1,2024, the IRDAI reminded companies that premiums must remain aligned with board-approved underwriting policies and prudent risk management...
Dark patterns must be eliminated from insurance sector: IRDAI Chairman
Lto R-Narendra Bharindwal, president, Insurance Brokers Association of India (IBAI),K Rajaraman, chairman, IFSCA, Ajay Seth, chairman, IRDAI and Tapan Singhel, MD&CEO, Bajaj Allianz General Insurance at silver jubilee conclave of IBAI on Saturday in New Delhi...
Rising Motor TP losses weighs on NIA’s Q1 results
"The Motor Third Party line of business continued to be under pressure as there was no premium increase while claims inflation continued. The significant spike in the Motor TP loss ratio had a severe adverse impact on the results. The industry is looking forward to a...
India, Middle East, and African re/insurance markets witness decline in rates across all lines in Q22026
Pricing for general liability varied by region, with India and the United Arab Emirates seeing the largest declines. Mumbai:India, Middle East, and African re/insurance markets have witnessed a decrease in rates across all lines in the second quarter of 2026, said a...
New India aims for 50:50 corporate-retail portfolio as insurance sector enters new era
From Lto R- G Srinivasan, MD& CEO, Galaxy Health Insurance, SK Kanwar, advisor, Reliance Industries,S. Sivasankar, executive director, New India Assurance(NIA),Girija Subramanian, CMD, NIA at NIA's 108th Foundation Day celebration on Wednesday in Mumbai "The...
Sikkim tunnel collapse: 22 bodies recovered,explosion suspected to have been caused by methane gas
Twenty-five workers were inside the under-construction NHPC Teesta Stage VI Hydropower Project tunnel, which collapsed following an explosion suspected to have been caused by methane gas shortly after 1 pm on Monday. Namchi:The bodies of 22 workers have been retrieved...