Global re/insurance broker Aon plc announced two leadership...
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CAFE III: Roadmap for technology flexibility and cleaner vehicle transition
"CAFE III regulation lays down a structured road-map with...
Domestic PV sales rise 21 pc in Sep; Maruti, Hyundai, Tata post double-digit growth
The industry is anticipating robust demand during the peak festival...
Oman says spill from grounded shadow oil tanker covers 400 square kilometers
Built in 2001, it is part of the so-called shadow fleet of older oil tankers used by Russia which lack Western insurance cover and sail under the flags of various nations to obscure their true ownership. Leaking crude oil from a tanker grounded off a nature reserve in...
Four crew, two rescuers killed in Red Sea attack; US strikes ship in Gulf of Oman
Traffic is even more disrupted in the Strait of Hormuz with just six passing through on Monday, down from a 10-day average of about 11 and prewar levels of some 130 to 140. Shipping through the Bab el-Mandeb strait and Red Sea has fallen by more than 50% since an...
Changing Hazards:Benign H1 2026 masks rising natural catastrophe risk, finds Swiss Re
Wildfire risk has so far accounted for only a relatively small share of insured losses in Europe. Yet it is the fastest-growing weather peril globally. Insured wildfire losses in Europe have increased by an estimated 8–11% per year in real terms since 1970, Swiss Re...
Key question:Whether reinsurers can maintain underwriting discipline or will irrational competition emerge
“If underwriting discipline and pricing integrity can be maintained despite record levels of capital, the industry may indeed be in the midst of a meaningful evolution of the reinsurance market. If not, history may once again demonstrate that the fundamental dynamics...
General insurance premium grows by 10.50 % in July to Rs 31,000 cr
Seven stand alone health insurers (SAHIs) together have grown their premium income by 30 per cent to Rs 4666 crore in July Mumbai:Boosted by Health and Motor segments, the Indian general insurance industry has seen a growth of 10.50 per cent year-on-year(Y-o-Y) in...
Munich Re posts better-than-expected profit amid low loss claims
`We deliberately opt not to take on business where prices would not be risk-commensurate, while remaining a reliable long-term partner to our clients, even after the largest of loss events.''Christoph Jurecka,Chair of the Board of Management. German reinsurer Munich...
Proposed Hormuz passage deal not feasible for shipping industry, sources say
Ships sailing through the strait need to pay an additional war risk premium to ensure they have insurance if their ship is damaged during transit. “Under the clause, insurers have no liability to indemnify any such payment and, where such a payment has been made, are...
IRDAI should fast-track risk-based capital framework; GST on insurance needs rationalisation: Parliamentary panel
The Committee noted that the 18 per cent GST on insurance products has adversely affected affordability and insurance penetration.It "recommended that the Government examine GST rationalisation for health, term life, agricultural insurance and reinsurance products on...
Swiss Re profit beats estimates with cost cutting
Andreas Berger, Chief Executive Officer, Swiss Re Lower major catastrophe losses supported Swiss Re’s profits in the period, though pricing pressure across the industry is expected to continue into next year. Inflation and macro-economic uncertainty are also...
Global Shipping groups urge UN to reject any compulsory transit tolls in Hormuz
“Once such a precedent is established, it becomes increasingly difficult to resist similar measures elsewhere, creating uncertainty for international shipping and global commerce,” wrote the group, which included the International Chamber of Shipping, BIMCO, the World...