Iran has started charging transit fees on some commercial vessels...
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Soft Market:Air India renews its $20 billion cover with just 10% hike despite $475 million claims from Ahemedabad crash
London market sources said AI's premium has just risen by around 10...
Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said:...
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,...
Berkley Asia and Lloyd’s Syndicate Volante venture into Indian markets
One more Lloyd’s Syndicate Volante has received a license from the Indian insurance regulator IRDAI to join the existing Lloyd’s platform in Mumbai while another major reinsurer Berkley Insurance Asia has ventured into the the Gujarat International Finance...
DHL cargo plane crashes near Vilnius Airport, One killed
“We see a more aggressive Russia, foreign partners have also spoken about it publicly, speaking about threats of sabotage acts. We can’t reject this scenario, but so far we can’t make any attributions or point fingers at anyone because there’s no such information.”...
Oak Reinsurance launches Syndicate 2843, receives Lloyd’s nods to underwrite
OAK Re is launching Syndicate 2843 in collaboration with blue chip capital providers including Bain Capital and Hampden Agencies, the largest provider of private capital to Lloyd’s. Polo Managing Agency is providing turnkey services for Syndicate 2843 LONDON: Oak...
Rapid increase of Himalayan glacial lakes, NGT issues notice to Centre others
Taking cognisance of a news report showing about 10.81 per cent increase of the glacial lakes in the last 13 years due to the rising temperatures, Justice Prakash Shrivastava and expert member A Senthil Vel said the report had outlined the sudden growth of these lakes...
GoM report on GST on health insurance to be placed before Council when received FinMin
Minister of State for Finance Pankaj Chaudhary informed the House that revenue generated from GST on healthcare and life insurance services was Rs 8,263 crore and Rs 8,135 crore, respectively during fiscal 2023-24, as against Rs 7,638 crore and Rs 9,132 crore in the...
RBI approves Central Bank buying stakes of Generali group’s Indian companies
The Reserve Bank of India (RBI) has approved state owned Central Bank of India's entry into the insurance business through a joint venture with Generali group under Future Generali India Insurance Company Ltd (FGIICL) and Future Generali India Life Insurance...
AM Best maintains outlook for global reinsurance industry to positive
Property reinsurance rates and terms have been relatively stable and are unlikely to soften in the coming months, owing to the hurricane activity during this year. Life insurance remains a good source of diversification for the large global reinsurers. The global...
Chaucer appoints Jonathan Ng as new Class Underwriter in Political Risk, Singapore
Chaucer, the leading global speciality (re)insurance group, announces the appointment of Jonathan Ng as new Class Underwriter in Political Risk, Singapore.Jonathan joins Chaucer from AXA XL where he specialised in political risk underwriting in Catlin’s Lloyd’s...