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Standalone health insurers grow 30.9% YoY: YES Securities
Gross Direct Premium Income (GDPI) for standalone health insurers...
US-Iran strikes choke ship traffic through Strait of Hormuz
London marine insurers also reported seeing fewer inquiries for...
Hedge Fund money is reshaping a 180-year-old reinsurance model
Reinsurers covered just over 10% of total insured catastrophe losses in 2024, well below the historical average of 20%, according to S&P Global Ratings. The industry’s biggest firms have more than halved their exposure to insured disaster losses in recent years,...
Trump’s threat to blockade the Strait of Hormuz risks widening war to High Seas
The developments threatened to prolong and widen a war that has led to thousands of deaths and roiled global energy markets, with higher oil and gas prices threatening to stoke inflation while slowing economic growth. Around the world, there’s now a desperate effort...
Govt drops any merger plans among PSU general insurers
Though, the government had not announced any specific plans for the mergers among PSU general insurers-New India Assurance, Oriental Insurance, United India Insurance, United India Insurance- in recent times, the Department of Financial Services(DFS) was...
Rajive Kumaraswami to succeed V. Suryanarayanan as MD & CEO of Chola MS
Kumaraswami brings over three decades of experience across insurance and banking and has been closely associated with the insurance sector since its liberalisation,where he led the organisation through a sustained phase of growth. Chennai: Rajive Kumaraswami will...
Shipowners rushing for insurance cover to transit Strait of Hormuz
The Strait of Hormuz remained largely blocked as shipowners try to understand if they can safely transit the vital waterway following a fragile ceasefire between the US and Iran that was announced overnight Shipowners are placing “huge volume requests” for insurance...
Govt,GIC Re and New India stitch up $100 million`Bharat Marine Pool’ with a sovereign guarantee, to re/insure war risks for vessels
The BNP will provide three kind of covers- Hull, Cargo and Protection & Indeminity(P&I) and has different sum assured for each of the segments which can be utilised on a floater basis for certain premiums. New Delhi:Looking beyond the ongoing West Asia crisis,...
Kasturi Sengupta takes over as new Secy General of GI Council
Kasturi Sengupta, Secretary General, General Insurance Council Sengupata had started her career at PSU general insurer National Insurance Company in 1989 and has managed multidimensional responsibilities over the years Mumbai:Kasturi Sengupta, 60, has assumed charge,...
US, Iran agree to ceasefire with reopening of Strait of Hormuz
President Donald Trump The eleventh-hour deal was subject to Iran's agreement to pause its blockade of oil and gas supplies through the strait, Trump said. The waterway typically handles about one-fifth of global oil shipments. WASHINGTON/DUBAI/CAIRO:The United States...
West Asia Conflict:Govt plans sovereign guarantees to support insurers covering vessels traveling in Persian Gulf
Maritime war risk insurance premiums have surged as much as 1,000% in some cases, as the Middle East conflict heightens risks to shipping through the region. The spike in premiums has sharply raised costs for shipowners, traders and energy firms moving cargo through...
IRDAI forms committee to review country’s current landscape of private health insurance
The committee will review the current landscape of private health insurance in India including coverage, penetration, claims experience, product design, grievance redressal and consumer experience. It will recommend regulatory,policy, and operational measures to...