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Apr1 Renewals: property-catastrophe rates fall, acute stress across multiple specialty lines due to ME geopolitical turmoil, says Howden Re
Looking ahead, mid-year 2026 renewals are expected to face more...
Sanjay Lohiya to succeed Nagaraju as new DFS Secretary
Sanjay Lohiya, special secretary, Department of Financial Services...
Powerful Tibet earthquake near Nepal kills at least 96
The quake hit at 9:05 a.m. (0105 GMT), with its epicentre located in Tingri, a rural Chinese county known as the northern gateway to the Everest region, at a depth of 10 km (6.2 miles), according to the China Earthquake Networks Centre. The U.S. Geological Service put...
Strong reinsurer appetite drives excess property catastrophe capacity at January 1:Guy Carpenter
Dean Klisura, President & CEO of Guy Carpenter. “Renewal outcomes at year-end reflect reinsurers’ positive property experience over the last two years and casualty portfolios that are well-positioned for future profitability,” said GC. London: Global reinsurance...
FIU-IND signs MoU with Irdai for enhanced coordination, information exchange
(L to R) Satyajit Tripathy, Member (distribution), Irdai and Vivek Aggarwal, Director, FIU-IND and signed an MoU in New Delhi for sharing of intelligence and information to check money laundering The MoU was signed as part of continued coordinated efforts in effective...
GIC Re issues fiat for stricter underwriting and pricing to fix undercutting of Fire premium
``We are closely monitoring the evolving market dynamics and are taking all steps necessary to protect GIC Re’s interests. These measures would include enhanced risk assessment, collaboration with insurers and also prudent capacity allocation.’’ N Ramaswamy, CMD, GIC...
64.5 mn passengers carried on international routes in Jan-Nov 2024, up 11.4 pc: Centre
“The number of domestic passengers carried by scheduled domestic Indian carriers has witnessed a growth of 5.9 per cent in the year 2024 as compared to the previous year 2023 during the same period,” said the ministry New Delhi: A total of 64.5 million passengers were...
2 dead and 19 injured in Southern California plane crash
The people who died were believed to have been on the plane, while those injured were inside the building. The deceased victims will be identified after officials have contacted the next of kin, the Fullerton Police Department said in a statement FULLERTON, Calif: Two...
Auto sales: Retail sales up 9% in India, crosses 26 million units in 2024
In 2024, EV sales reached 1.95 million units, up from 1.5 million in 2023. EV penetration also went up to 7.5%, compared with 6.39% in the previous year. Driven by rising private consumption and disposable incomes, India saw vehicle retail sales increase by at least...
Jan1 renewals: Property catastrophe & specialty see reduction in risk adjusted pricing across board
Globally, reinsurers are on track to produce a combined ratio near or below 90% and a low-teens ROE for 2024. Not only have reinsurers' operating and performance ratios improved but so have aggregate balance sheet metrics, providing some context around how quickly and...
Jan 1 renewals see softening of reinsurance pricing, favourable market conditions to persist in 2025: Howden
After an extended period of rate increases across the (re)insurance sector – driven by accumulating and intersecting crises, capital constraints and cyclical adjustments – the availability of deployable capacity in the marketplace signals a new phase in the cycle,...
ICMR proposes revised version of National Essential Diagnostics List
The district-level hospitals must facilitate CT scan, MRI, mammography and echocardiography, according to the draft guidelines New Delhi: The ICMR has proposed a revised version of the National Essential Diagnostics List (NEDL), which enumerates the minimum number of...