“Everest’s launch in India presents significant opportunity, as one...
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Insurers start passing on full benefits of zero GST on retail Life and Health covers
``The net outgo for individual consumers has been reduced for...
Super Typhoon Ragasa barrels through northern Philippines, triggers alerts across Asian region
Packing winds of 215 kph (134 mph) and gusts of up to 295 kph (160...
Expenses of Management(EoM): IRDAI fixes at 30% for general insurers,35% for health insurers
Premium in Rs, crore The new limit on EoM will be effective from April 1 The general and health insurers have to ensure that their expenses of management are within the allowable limit on the overall basis. Where the insurer has exceeded the allowable limits of...
Aditya Birla Capital exits insurance broking business; to sell its arm to Edme Services
The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital...
Women having their own source of income are more likely to own insurance:ICICI Lombard Report
Sanjeev Mantri, executive director, ICICI Lombard General Insurance said, “As data shows only a small percentage of women in India consider general insurance a priority. This highlights the need for more awareness and education on general insurance among women in...
India’s $1 trillion sovereign bond market sees rising clout of insurers
“Insurance companies have been one of the key investors in long-maturity bonds,As the penetration and reach of distribution channels increase, we expect that the growth in the sales of the traditional products to continue to grow, and consequently the demand for...
IRDAI removes caps on commissions paid to intermediaries within Expense of Management(EOM)
The government last Sunday has notified the new regulations, as approved by insurance regulator IRDAI , on the removal of cap on payment of commission to the intermediaries Oveall limit of Expense of Management(EoM) for the insurers will be fixed by insurance...
Sun Pharma’s income hit by ransomware
While the drugmaker is unable to determine other impacts of the breach, including cost to maintain insurance coverage and possibility of litigation, it said there would be expenses linked to the incident. Mumbai: Sun Pharmaceutical Industries expects revenue to fall...
Cyber criminals exploiting ChatGPT popularity to spread malwares via FB accounts
"Cybercriminals are capitalising on the popularity of ChatGPT, exploiting Facebook's vast user base by compromising legitimate Facebook accounts to distribute malware via Facebook ads, putting users' security at risk. Our investigation has uncovered 13 compromised...
Skyrisks to launch products for Advanced Air Mobility sector
Advanced Air Mobility (AAM) businesses will have diverse insurance needs including hull all risks, third party liability, passenger & crew liability, premises, products & hangarkeepers liability, and other coverages London: Skyrisks Limited announced today...
MS Amlin bolsters Risk Analytics expertise with senior hire
LONDON: MS Amlin, the Lloyd’s global (re)insurer, on Monday announced the appointment of Dr Jessica Turner as Head of Risk Analytics, effective 26 June 2023, and reporting to Martin Burke, Director of Underwriting Performance. Jessica joins MS Amlin from Guy Carpenter...
Miller bolsters Singapore Energy team with Engineering hire
London: Miller, UK based independent specialist (re)insurance broker, today announces the appointment of Bonifasius Dipati (Boni) as a risk engineer in its Singapore Energy team. Boni will report to Head of Energy (Asia-Pacific), Matt Hooker, and he joins on 3rd...