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FSIB selects United India’s Sanjay Joshi as new CMD of Oriental Insurance
Sanjay Joshi, selected CMD of Oriental Insurance Company The FSIB,...
Peak Re raises $50 million through its second Cat bond
Franz-Josef Hahn, CEO, Peak Re For the first time, India has been...
Natural disasters cost global economy over $227 billion till Q3 2022: Aon Cat Report
Michal Lörinc, head of catastrophe insight in Aon’s Impact Forecasting team, said: “It is anticipated that there will be robust loss development across many of the reported natural catastrophes, especially with the realization of costs associated with recent tropical...
CCI slaps penalties totalling Rs 392 cr on MakeMyTrip, Goibibo, OYO
Among others, it was alleged that MMT-Go imposed a price parity in their agreements with hotel partners. Under such pacts, the hotel partners are not allowed to sell their rooms on any other platform or on its own online portal at a price below the price at which it...
Maharashtra: 18 cases of XBB sub-variant of Omicron detected in 15 days
It said 15 out of these 20 cases (18 of XBB and one each of BQ.1 and BA.2.3.20) were vaccinated against COVID-19 while information on the rest five cases is to be received New Delhi:At least 18 cases of XBB sub-variant of Omicron have been reported in Maharashtra in...
India’s domestic passenger volume rose 65% to 10 mn in September: DGCA
The average passenger load factor of these carriers stood at 77.5 per cent against 72.5 per cent PLF delivered in August 2022, the DGCA data show. New Delhi: Domestic air passenger volume grew 64.61 per cent to 10.35 million in September over the same period last...
Hurricane Ian fallout will test Cat Bond investor appetite
Cat bonds are approximately 30% of the ILS market. Commentary from the Monte Carlo Rendezvous 2022 indicated a pipeline of ILS deals of $5 bil. of additional reinsurance capacity, which would benefit insurers facing a hardening market New York: Reinsurers facing...
U.S. Treasury proposes a new rule to collect data on climate-related risks from P&C insurers
U.S. Treasury Secretary Janet Yellen has pressed U.S. financial regulators to make assessment of climate change risks a normal part of their everyday work, including a demand that companies increase disclosures of such risks to investors Treasury said the proposed...
Tax refund boosts ICICI Lombard Q2 net by 32 pc to Rs 591 cr
The insurer’s combined ratio, a key matrix in any general insurer's profitability stood at 105.1 per cent in Q2 FY2023 as against 105.3 per cent in Q2 FY2022 The company’s underwriting losses have gone up by 51 per cent to Rs 152 crore in the reporting period...
Helicopter carrying pilgrims to Kedarnath crashes; 7 dead
Fog and poor visibility are said to be the reason for the crash Dehradun: A helicopter ferrying pilgrims from Kedarnath temple to Guptkashi here crashed into a hill due to poor visibility on Tuesday, killing all six pilgrims and the pilot on the spot. The chopper --...
Maharasthra Covid cases up; new Omicron subvariants BQ.1, XBB reported from state
On October 17, India detected its first case of Omicron's BQ.1 subvariant in a sample of a patient from Pune. The BQ.1 is a descendant of BA.5, which is behind the 60 per cent Covid cases in the United States (US), as per reports Mumbai: A meeting between Union Health...
Swiss Re estimates Hurricane Ian claims at approximately $1.3 billion
Swiss Re estimates the preliminary total insured market loss from Hurricane Ian at USD 50–65 billion Swiss Re's P&C business reported and normalised combined ratios were affected in the third quarter by an increase in small- to mid-sized claims, partly driven by...