ICICI Lombard General Insurance has reinsurnace support for...
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RBI proposes rules for banks to implement relief measures during natural disasters, to kick in from April 1
India ranks sixth globally in climate vulnerability, according to...
Nvidia unveils AI tools and models for faster weather forecasting
Mike Pritchard, the director of climate simulation research for...
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...
Lloyd’s of London swings to $13.5 billion profit in 2023
“We’ll continue working with our market to deliver consistent profitable performance through disciplined underwriting,” Chief Executive John Neal said in a statement London: Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023,...
Baltimore bridge collapse could result in ‘one of the largest marine losses in history’: Lloyds of London CEO
``If you look at it from a marine point of view, this could be one of the largest marine losses in history. Insurance companies will be liable to cover the multi-billion-dollar losses. The vessel is insured, the bridge is insured, the port authority's insured, so this...
China’s latest EV is a ‘connected’ car from smart appliance maker Xiaomi
The combined share of EVs and hybrids in China's auto sales is likely to reach 42 per cent to 45 per cent this year, up from 36 per cent in 2023, according to Fitch Ratings. But the agency said in a December report that the competition could put pressure on...
IRDAI asks insurers to keep their branches open on Mar 30- 31
`Insurers may take note of the above and give adequate publicity to the special arrangement made as above,'' said the IRDAI on Thursday Hyderabad: Like its banking counterpart Reserve Bank of India(RBI), insurance regulator IRDAI has also asked insurers to keep their...
LIC, GIC Re and New India continue to be Domestic Systemically Important Insurers(D-Slls) in 2023-24:IRDAI
D-Slls refer to insurers of such size, market importance, and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system Hyderabad: Insurance regulator IRDAI, on Wednesday, said Life...