Nirmala Sitharaman,Finance minister Taken together,the Bill, that...
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Transformational moment, PM Modi on Parliament nod to SHANTI Bill
The Bill introduces an elaborate framework on duties and...
Munich Re and Germany’s KfW Development Bank launch a state-backed geothermal risk insurance
Geothermal power is an abundant energy source that can provide...
Sompo announces leadership changes for Asia Pacific Region
Kenneth Reilly, CEO, Insurance, Sampo, Asia Pacific region James Shea said, “As we invest and further develop our business across the Asia Pacific region it is fundamental to build our team to support our plans for continued growth. With more than 25 years of...
APAC’s Nat Cat economic losses at $65 billion in 2023, 91% uninsured
George Attard, CEO of Reinsurance Solutions for Aon’s Asia Pacific region Economic losses in the Asia Pacific region specifically, driven primarily by floods in China and drought in India, reached USD 65 billion “The findings from Aon’s 2023 Global Risk Management...
Online doctor consultations surge 4x post-Covid pandemic in India: Report
“With the increasing penetration of smartphones and declining data prices, digital platforms have become instrumental in bridging existing gaps in the healthcare ecosystem. And we have seen growing acceptance for online consultations from patients and healthcare...
Shipowner in Baltimore bridge collapse seeks to limit liability to $43.7 mn
The company, Grace Ocean, could face hundreds of millions of dollars in damage claims, legal experts say.On Monday it filed a petition jointly with Synergy Marine, which was operating the Singapore-flagged cargo ship Dali. They claim the collapse of the Francis Scott...
Passenger vehicle sales soar to record high in FY24; dispatches cross 42 lakh mark
“This is the first time that passenger vehicle sales have crossed the 40 lakh sales mark in the country…much of the growth that has happened is in the SUV segment,” Shashank Srivastava,member, executive committee, Maruti Suzuki India New Delhi: Driven by robust demand...
Apr 1 Renewals: Transitioning’ property catastrophe sector heralds buyers’ market, says Aon
George Attard, CEO of Asia Pacific for Aon’s Reinsurance Solutions, said, “The April 1st reinsurance renewals were more predictable and generally favorable to reinsurance buyers. As mid-year renewals get under way for the catastrophe-exposed markets of Florida,...
Apr 1 renewals: Surprisingly, Indian general insurance market turns soft, GIC Re bounces back with a larger capacity
``With a robust solvency ratio of 2.94 , we remain bullish and will grow our top line in this Apr 1 renewals. We have engaged with the market participants, especially the bigger ones. And my team is speaking to the reinsurance people to ensure that we understand what...
Finance ministry and PSUs can’t make any new appointments till general elections are over, says EC
Effectively, for the PSU insurance industry , such a stand by the Election Commission of India, will stall all the new appointments, including Member(Distribution), IRDAI , two CMDS-New India Assurance and United India Insurance and nine executive directors...
Allianz Partners becomes the first foreign reinsurer to setup operations in GIFT City
With its headquarter in Paris, globally, Allianz Partners is an re/insurance company that offers health, life, automotive, and travel services. It also provides liability insurance for rental cars, travel delay, hotel cancellation, and business trips Gandhinagar/GIFT...
Building a new Key Bridge could take years and cost at least $400 million, experts say
The Key Bridge collapsed Tuesday, killing six members of a crew that was working on the span, after the Dali cargo ship plowed into one its supports. Officials are scrambling to clean up and rebuild after the accident, which has shuttered the city's busy port and a...