Bobby Swarup, Founder and CEO of Niyam Group, said “I am grateful...
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Natural disasters cause US$224bn global damage in 2025, insured losses at US$ 108bn, says Munich Re
In the Asia-Pacific region, natural disasters resulted in overall...
Tamil Nadu pays Rs 1237.80 cr of premium to UII for renewing state’s health insurance scheme in 2026-27
The scheme provides cashless hospitalization for specific...
Weakening El Nino conditions raise hopes of ‘bountiful monsoon’ in India
Weather scientists in India, tracking the developments closely, have said that La Nina conditions setting in by June-August could mean monsoon rains would be better this year than the last year.The southwest monsoon delivers about 70 percent of India’s annual...
RCap administrator objects Rs 118 crore special payment proposal to key team of Reliance General Insurance
`This action of yours in provisioning for the KMPs runs contrary to your representation on the solvency ratio post infusion of the additional funds, Also, we, have not granted any approval under section 197 of the Companies Act 013 for the payment of such remuneration...
Maruti Suzuki may see some increase in costs due to Red Sea crisis
Similarly, the situation in the Red Sea is creating supply chain issues for German luxury carmaker Audi, impacting car deliveries to customers in India in the first quarter but recovery is expected in the coming months, according to a senior company official. New...
Britain’s financial regulators need ‘ambitious mindset’, says industry leader
“At Lloyd’s, we have the capacity and expertise to evaluate and approve a new underwriting syndicate within 30 days, but the external regulators require many months more before making a decision, causing businesses to set up outside the UK,” said Carnegie-Brown,...
Brazil subsidised rural insurance for Amazon deforested land
Among the companies cited by Repórter Brasil was a unit of Japan’s Tokio Marine Holdings Inc. In 2020, it provided policies to landowners in Mato Grosso, Brazil’s largest crop-producing state. About 70% of the property covered by the insurance was embargoed due to...
Govt and ADB sign $200 million loan to tackle flood and erosion risk along Brahmaputra river
“Through the project, ADB continues to pursue its cost-effective, adaptive, and systematic river stabilisation approach to managing the Brahmaputra river. While deploying riverbank protection technology, ADB will also continue to build the capacity of state agencies...
New India’s net profit at Rs 713 crore in Q3FY24 despite large Nat Cat losses
"FY24 continues to be a challenging year for the company. In the third quarter, the country witnessed catastrophic events like cyclone Michaung and floods in South India, Sikkim West Bengal. The net impact of these events on the company's third-quarter results was...
Govt, exporters, shippers discuss Red Sea crisis; commerce ministry asks FIEO to share specific issues
The exporting community has urged the commerce ministry to intervene in freight rates as the shippers are charging huge amounts.High freight rates are impacting the exporting community. We are at dis-advantageous position as compared to countries which are not getting...
GIC Re net profit jumps 27% to Rs1,518 crore in Oct-Dec Qtr, further reduces loss making Crop biz
`Our results during the quarter are more or less as per expectations. Domestic premium this quarter has come down due to our decreasing agricultural business. Combined ratios have gone up in domestic due to two natural catastrophic events in the quarter,'' said N...
IRDAI sets higher targets for insurers in revised norms on `Rural, Social Sector and Motor Third Party Obligations’
Insurance business pertaining to Government social security schemes such as Pradhan Mantri Awas Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY),Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY), etc. where total/ partial premium is paid by the Government,...