Additional premiums for vessels transiting high-risk waters are...
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Rising tensions in Middle East may impact trade, push up freight, insurance costs
``The disruption in the Strait of Hormuz threatens a major share of...
Govt to meet shipping firms and exporters on Monday to assess impact of Iran tensions on trade
Iran's state media said on February 28 that the Islamic Republic...
Negligence only if doctor lacks qualification or expertise in treatment: SC
"A medical professional may be held liable for negligence only when he is not possessed with the requisite qualification or skill or when he fails to exercise reasonable skill which he possesses in giving the treatment," the bench said New Delhi: The Supreme Court on...
Global commercial insurance rates show first quarterly fall in seven years, Marsh says
Marsh said the fall in the composite rate - the first since the third quarter of 2017 - was largely driven by increased competition among insurers in the global property market.On average, composite rates decreased in the Pacific by 6%, in the UK by 5%, in Asia by 4%,...
Lloyd’s and UNCDC establish first of its kind disaster resilience vehicle for Small Island Developing States
Initially covering Fiji, Papua New Guinea and Samoa, the vehicle will respond to disasters caused by natural perils including tropical cyclone, earthquake, tsunami and flood – with the long-term aim of scaling and replicating the vehicle throughout the Pacific region...
FSIB selects 5 EDs for PSU general insurance cos
Ayyappan Chakravarty Seshadri, general manager, New India Assurance(NIA) has been kept as a standby candidate for the ED post at Agriculture Insurance Company(AIC) in case Lavanya Mundayur, who has already been recommended for the post CMD of the company(AIC),...
Ambani’s Jio Financial in talks with Allianz SE to set up insurance JVs in India
Mukesh Ambani, chairman, Reliance Industries Jio Financial, helmed by veteran banker K.V. Kamath, already runs a shadow bank and an insurance brokerage and has joined forces with BlackRock Inc. to start an asset management business. Setting up insurance operations...
Allianz to exit 2 insurance JVs with Bajaj Group
Market sources pointed out Allianz plans to exit Bajaj Allianz Life Insurance Co. and Bajaj Allianz General Insurance Co. because its Indian partner isn’t allowing the German insurer to raise its stakes at a discounted price which was agreed upon at the time of...
Panda seeks more conglomerates to enter insurance; Irdai nudging more cos to list
Debasish Panda, chairman, IRDAI The regulatory body's chief said more than consolidation, Irdai is working on growing the number of players in the industry and also held roadshows in Japan, Europe and the US recently where it told global investors about the...
GST on term life insurance premium, senior citizens’ health cover likely to be exempted
The GoM to decide on the GST rate on life and health insurance met on Saturday and decided to exempt GST on premiums paid for health insurance with coverage of Rs 5 lakh for individuals other than senior citizens. New Delhi: Goods and services tax (GST) on term life...
AXA Insurance announces strategic name change of “XL Re China” to “AXA International Re”
By leveraging data, pricing strategies, and market expertise, AXA International Re is now in a very good position and will focus on developing products and pricing, offering a wider range of reinsurance solutions to its clients in the mainland Chinese market HONG...
Sompo appoints Maya Dongyoung Lee as chief operating officer, Asia Pacific
Maya Dongyoung Lee as Chief Operating Officer, Asia Pacific, Sompo In her new role, Lee will be responsible for leading Sompo’s APAC operations, including operational excellence and resilience, transformation and project management, and building its operational...