Property rates in India experienced decreases between 15% to...
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Zurich Insurance set to take over Beazley for $11 billion
Beazley’s board “has concluded that the financial terms of the...
Space Insurance:Govt prepares policy framework for covering 3rd party damages due to Indian Space Objects
A draft “Policy framework and guidelines addressing State’s...
Bima Manthan: Panda to address 2-day summit of industry CEOs on Thursday in Hyderabad
Debasish Panda, chairman, IRDAI Narendra Modi led NDA government has identified insurance reforms, like composite license, 100 per cent FDI and allowing Captive insurance, high on its first 100-days agenda if it returns to power. The IRDAI has to prepare industry's...
World’s workers increasingly at risk as climate changes, ILO says
Workers, especially the world’s poorest, are more vulnerable than the general population to the dangers of climate extremes such as heatwaves, droughts, wildfires and hurricanes because they are often the first exposed or exposed for longer periods and at greater...
Health Insurance: IRDAI bans hike in premium for an individual policy holder due to higher claims
In another major decision, the IRDAI's new regulations have clarified that after completion of sixty continuous months of coverage (including portability and migration) in health insurance policy, no policy and claim can be contestable by the insurer on grounds of...
Health Insurance: IRDAI removes age cap on policies since Apr 1
“Insurers must ensure they offer health insurance products catering to all age groups. They may design products specifically for senior citizens, students, children, maternity, and other groups as specified by the Competent Authority,” stated a notification issued by...
Investor climate group to go for assets in private equity, debt
The Net-Zero Asset Owner Alliance, whose pension fund and insurer signatories manage $9.5 trillion in assets, said the new Target-Setting Protocol was its most ambitious yet to help halve emissions by 2030 and get to net-zero emissions by mid-century The world’s...
El Niño to trigger drought insurance payouts in four southern African states
El Nino, which brings dry and hot weather to Southern Africa, has decimated harvests of corn across the region. Zimbabwe is expected to harvest about 60% less of the regional staple this year than it did in 2023 and together with Malawi and Zambia has declared a...
Dubai faces heavy disruption as flooding worsens
The heavy rains across the desert nation came after cloud seeding. The UAE has been carrying out seeding operations since 2002 to address water security issues, but the lack of drainage in many areas can trigger flooding, including in cities such as Dubai that’s a...
Generali undertakes restructuring to focus on Insurance and and Asset management
Philippe Donnet,group CEO,Generali Thanks to a simpler and leaner approach, the new group’s organizational structure centering on insurance and asset management will accelerate the group’s transformation, and it will support the definition of the plan for the next...
With Rs 1,09 trillion prm, Health retains its No 1 position in Indian general insurance industry in FY24
Crop insurance has seen a dip in the premium by 4 per cent to Rs 30.715 crore in Fy 24. Mumbai:With a total premium of Rs 1,09,006 crore, showing a growth of 20 per cent, Health Insurance continues to be no 1 portfolio in Rs 2.89 trillion Indian general insurance...
Surbhi Goel to be appointed CEO Munich Re, India
Surbhi Goel, CEO designate, India Branch, Munich Re Munich Re, is the largest foreign reinsurance branch(FRB) in the India with over Rs 10,000 crore of premium in FY23-24.It set up its operations in 2017. Mumbai: Munich Re, the largest global reinsurer, today...