The other members of the committee are- T. L. Alamelu,former,...
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Insurance sector remains constrained by a high-cost distribution model inflating protection cost:Economic Survey
Nirmala Sitharaman Union Minister for Finance and Corporate Affairs...
Digit Insurance pays first moisture index-based parametric insurance claim to Rajasthan farmers
The total policy sum insured for excess moisture and drought...
Taiwan quake to hit some chip output, disrupt Asia supply chain, analysts say
The island plays an outsized role in the global chip supply chain as it is home to the world's largest chipmaker Taiwan Semiconductor Manufacturing Co , which supplies chips to Apple and Nvidia.The country also houses smaller chipmakers, including UMC , Vanguard...
Aon completes acquisition of Prabodh Thakker’s Global Insurance Brokers
The acquisition strengthens Aon’s existing broking and advisory capabilities across the commercial risk, health and reinsurance markets, which combined with Aon’s talent consulting business, creates an integrated team of over 1,100 colleagues across Aon in India...
Apr1 Renewals: New reinsurance opportunities in Indian market
In contrast to last year’s renewal, 4/1 saw a resurgence in property catastrophe capacity. While there were few new players in the market, existing reinsurers demonstrated an increased appetite to grow their property catastrophe books in India. However,despite excess...
Strong earthquake strikes Taiwan, tsunami waves detected in Japan
Taiwanese television showed buildings in Hualien shaken off their foundations. The strong quake knocked out power in several parts of the city In the capital, Taipei, tiles fell from older buildings and within some newer office complexes. Train service was suspended...
IRDAI bans any competition against Bima Sugam-Insurance Electronic Marketplace
``No other person can commence or operate with same or similar objectives of the Marketplace and functions of the company,’’ the IRDA's new regulations have clarified The new regulations have provision for penalty for certain violations/breaches by the players. The...
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...