The preliminary report released earlier provided factual...
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Aon appoints Joe Peiser as CEO of Risk Capital
Peiser's appointment reflects Aon's broader strategy to strengthen...
Japan:Businesses navigating rapidly changing market and geopolitical volatility
Tatsuya Yamamoto, CEO of Japan at Aon, said, “Japanese...
Cyber Risks: Frequency of large claims (>€1mn) up 14%, severity increase 17% in H1 2024
Worldwide, the average cost of a data breach reached an all-time high in 2024 of $4.9mn. In comparison, the average data breach costs in Japan, South Korea, ASEAN, and India are $4.19mn, $3.62mn, $3.23mn, and $2.35mn respectively, according to IBM's Cost of a Data...
Floridians flee looming catastrophe as Hurricane Milton approaches
The storm was on a collision course for the Tampa Bay metropolitan area, home to more than 3 million people, though forecasters said the path could vary before the storm makes landfall late Wednesday night or early Thursday morning. Officials from U.S. President Joe...
Absence of major losses paves the way for competitive pricing in power insurance sector: WTW
A shift in appetite from coal to non-coal power and the phasing out of underwriting existing coal risks have combined to encourage insurers to seek new opportunities in deploying their capital. We are seeing an increasing number of insurers seeking to offer long-term...
Indian auto retail sales fell 19%, inventory piles up
According to FADA President C.S Vigneshwar, “the Shraddh period further impacted sales negatively, leading to a YoY decline in retail sales across various categories” New Delhi: Passenger vehicle retail sales have dropped further and fell sharply by 19 per cent...
Mahindra Insurance Brokers launches its new reinsurance division in Dubai International Financial Centre
Salman Jaffery, Chief Business Development Officer of DIFC Authority, said: “We are delighted to welcome Mahindra Insurance Brokers to DIFC. The firm joins over 125 registered insurers, reinsurers, captives, MGAs and insurance-related entities in the Centre. Our...
Africa Specialty Risks to operate as a Lloyd’s service company on behalf of ASR Syndicate 2454
ASR Ltd is now able to write up to USD $10 million per risk across its Political Violence and Terrorism, Energy, Construction, Property, and Liability lines of business, with additional lines to be added, subject to necessary approvals London: Africa Specialty Risks...
Nilesh Garg quits as MD &CEO of Tata AIG General Insurance
Nilesh Garg, MD& CEO, Tata AIG General Insurance It is not yet known who will succeed Garg at Tata AIG General Insurance. During last one year, Rs three lakh trillion Indian general insurance industry has seen change of guards in many big companies Mumbai:...
More than 1-in-3 people globally vulnerable to flood Risk, says Moody’s
South Asia is the most flood-prone region, with almost 40% of its inhabitants susceptible to inland flooding and just over 5% at risk from coastal flooding at the 100-year return period level London: As the Southeastern US and central Europe contend with the aftermath...
Microinsurance Network announces partnership with African Insurance Organisation
Together, MiN and AIO, with additional support from the International Labour Organization (ILO)’s Impact Insurance Facility aim to create a robust platform for knowledge sharing, capacity building, and the promotion of product development to enhance the inclusive...
LIC hunts for a suitable health insurance partner, to pick up less than 50% stake
Siddarth Mohanty, MD &CEO, LIC Siddartha Mohanty, MD &CEO, LIC, said, ``Yes , we are now actively searching for an Indian health insurer where we can pick up a large stake but less than 50 per cent. We will not run the company on day- to- day basis but will...