North America is identified as the region likely to be most...
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Insurance nominations can’t override personal succession laws: Karnataka HC
Justice Anant Ramanath Hegde ruled that a nominee can receive the...
Chubb to acquire Liberty Mutual’s P&C insurance businesses in Thailand and Vietnam
The combined operations produced approximately $275 million in net...
AXA XL appoints HaoMing Zhou as country manager, China – Insurance
Gilles Fromageot, Regional Manager, Asia, AXA XL said “As the risk landscape and economic conditions continue to evolve, businesses are faced with new challenges every day, further increasing the need for an expert partner.” AXA XL Insurance today announced the...
Fairfax Financial to sell pet insurance operations to Germany’s JAB in $1.4 bln deal
Fairfax, the Canadian investment company headed by well known contrarian investor Prem Watsa, will sell its interests in Crum & Forster Pet Insurance Group and Pethealth Inc including all of their worldwide operations to JAB's pet insurance unit for $1.15 billion...
Govt may appoint a private sector honcho as IRDA’s new member, Non-life
The name of Sanjeev Mathur, 1987 batch of Oriental Insurance Company(OIC), who has been working with Cholamandalam General Insurance after quitting state- owned OIC in early 2000 ,is current doing the round for the post of member, Non-Life, IRDAI There are now moves...
Overhauling fleet: Air India gets ready to place the largest orders in aviation history
The carrier may order Airbus SE’s A320neo family jets or Boeing Co.’s 737 Max models, or a mix of both, the people said, asking not to be identified because the discussions are confidential. A deal for 300 737 Max-10 jets could be worth $40.5 billion at sticker...
Poor monsoon could spell disaster for India’s agriculture-based economy, say experts
However, the weather department says it is expected to pick up the pace and compensate for any deficiency. The prediction is good and the rainfall is picking up. The countrywide rainfall deficit decreased from 43 percent on June 11 to 18 percent on June 17, said...
Delhi bound SpiceJet plane catches fire mid air; all safe
Patna Airport Director also said, "SpiceJet flight from Patna to Delhi was reported to have fire in one engine. The flight landed safely, and all 183 passengers and two infants have deboarded safely." Patna: A Delhi-bound Spice Jet aircraft made an emergency landing...
Russia-Ukraine War: Indian general insurers form Rs 500 crore `Pool’ to cover Fertiliser shipment, may include Oil later
The `Pool’, which only covers the Cargo and not the Hull, was initiated at the instance of ministry of finance, is already in place this week after receiving due approvals from the insurance regulator IRDAI Effectively, any claim within Rs 500 crore per shipment of...
Japan: Achieving one of the world’s lowest Covid-19 death rates
A core pillar supporting the low death rate was the underlying good health of Japan’s population. The country has the longest life expectancy in the world, and was one of only six OECD members not to see a reduction in 2020. Just 5% of Japanese people are obese, one...
Rating Action: Moody’s places Peak Re’s ratings on review for downgrade
The review for downgrade on Peak Re's A3 IFSR follows Moody's rating action on June 14, 2022 to place on review for downgrade the Ba3 corporate family rating of Peak Re's majority shareholder, Fosun International Limited (Fosun, Ba3 review for downgrade). The rating...
Beazley launches a D&O solution for crypto companies
Luisa Celentano, Underwriter, D&O Specialty Risks said: “The crypto market is growing rapidly, and becoming increasingly mainstream. Crypto firms face a myriad of risks from extreme volatility to a lack of regulation, and they also have to contend with different...