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Global insurance market expected to continue shifting eastward over next decade: Allianz
Overall, the global insurance market is expected to grow at an...
Insurance market in India likely to grow at 10.7 pc annually over next decade: Allianz Report
Despite ranking among the world's ten largest insurance markets,...
‘Black Swan’ risks stalk container carriers in avoiding Iran war
Jeremy Nixon, the CEO of Ocean Network Express, said Monday there were about 750 ships caught up in what was effectively the closure of the Strait of Hormuz, with about half of them inside of the Gulf and half on the way there. About 100 of those are container ships,...
Iran conflict disrupts global shipping as tankers are stranded, damaged
War risk premiums have risen up to 1% of the value of a ship in the past 48 hours, from around 0.2% last week, industry sources said on Monday, which adds hundreds of thousands of dollars in costs for every shipment Insurance companies are canceling war risk coverage...
Insurance gaps leave airlines exposed as Iran conflict widens
Airlines have aviation war cover for their fleets, including damage to aircraft and liability, but revenue losses from operational disruption typically fall under business insurance policies that include war exclusions, leaving airlines to foot the bill, a second...
Indian Accounting Standards (Ind AS): IRDAI issues exposure draft,to implement new accounting system for industry from Apr 1
The proposed amendments aim to promote greater consistency, transparency and comparability in financial reporting across the insurance sector, in alignment with globally accepted standards,while preserving regulatory prudence and safeguarding policyholder interests...
SC fastens liability of paying penalty on employer for delay in depositing compensation
"The perusal of the statement of objects of the said legislation makes it crystal clear that the said legislation is a social welfare statute brought in by Parliament to redress the grievances of the employees in case of accidents that may occur in or during the...
War risk insurance premiums for ships likely to rise amid West Asia crisis: Re/insurance brokers
Vessels of the Shipping Corporation of India (SCI) are also involved in the movement of crude oil and LNG, especially through areas around the Red Sea, and would have to pay an additional premium for war cover to ensure risk cover. In aviation, hull war risk (HWR)...
Iran vows to attack any ship trying to pass through Strait of Hormuz
"The strait (of Hormuz) is closed. If anyone tries to pass, the heroes of the Revolutionary Guards and the regular navy will set those ships ablaze," Ebrahim Jabari, a senior adviser to the Guards commander-in-chief, said in remarks carried by state media. CAIRO:...
Ausatralian QBE to take full control of its Indian JV, buys out 51% stake from Prism Johnson for Rs 324 Cr
This is the first deal by any foreign insurer to have a 100 per cent venture in India after the new act,The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025,was enacted by the Indian parliament in December, 2025, allowing 100 per cent foreign direct...
Middle East Crisis: Govt engages with all stakeholders to ensure trade continuity amid geopolitical unrest
The Centre reiterated its readiness to facilitate trade operations, including procedural flexibility in export-related authorisations in cases of genuine disruption; coordination with Customs authorities to ensure smooth clearance; engagement with financial and...
Zurich Insurance to acquire UK’s Beazley for $11 billion
"Together with Beazley, we will create the world’s leading Specialty underwriter, with around $15 billion of pro forma gross written premiums, exceptional underwriting expertise and data capabilities, and leading access to global distribution," said Mario Greco,...