And although the recent string of accidents may be statistical...
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IRDAI imposes Rs 1cr fine on UIB Insurance Brokers for flouting premium remittance rules
According to the IRDAI, the broker does not have any right over the...
100 pc FDI to help Indian insurance sector reach $222 billion by 2026
“However, it is crucial to understand the complexities of...
With 74.30% Combined Ratio, GIC Re logs a record underwriting profit of Rs 2,314 crore in Q4 FY 2021-22
Devesh Srivastava, CMD, GIC Re announcing company's results at a press conference in Mumbai on Friday The reinsurer had a record net profit of Rs 1,795 crore during Q4 FY 2021-22 as compared to a loss of Rs 28.48 crore in the year ago period Indicating GIC Re's...
SpiceJet, IndiGo faulted for poor service and behavior by air passengers
As demand rushes back, meeting passenger expectations in a world where people are being told to live with the virus has become harder. Some are finicky about sanitization standards or not eating onboard while others rail against wearing a mask all the time India’s...
Delhi HC adjourns `Singh- Govt of India’ case to July 11
It is learnt that Solicitor General Tushar Mehta had appeared for the government and had pleaded with the court to adjourn the case Sources point out that the government might have wanted more time so that it can prepare alternative platform of BBB, the head hunting...
Verisk appoints Lee M. Shavel as CEO, Mark V. Anquillare as President
Shavel and Anquillare have been architects and drivers of Verisk’s growth, increased efficiency and an innovation agenda that has helped the insurance industry successfully turn data into actionable insights and accelerate its digital transformation JERSEY CITY, N.J:...
UK’s Howden takes full control of its Indian broking JV, looks for acquisitions
Praveen Vashishta, chairman, Howden India ``We want to be a Rs 200 crore company in our India operations in couple of years and have put in place right growth strategies supported by talents and technologies,'' said Praveen Vashishta, chairman of Howden India adding...
Govt to implement new 3rd party Motor insurance premium from June 1
The general insurers are eagerly waiting for the final notification of the Motor TP rates as they have not been allowed to raise the rates for the loss making portfolio during last two years by the insurance regulator IRDAI due to the Covid-19 Pandemic A discounted...
NOAA predicts above-normal 2022 Atlantic Hurricane Season
The increased activity anticipated this hurricane season is attributed to several climate factors, including the ongoing La Niña that is likely to persist throughout the hurricane season, warmer-than-average sea surface temperatures in the Atlantic Ocean and Caribbean...
Munich Re’s raises $ 1.25 bn of green bond from US market
The bond has a coupon of 5.875% and matures in 2042 Christoph Jurecka,CFO, Munich Re said,`` In structuring this bond as a green bond, we are the first European insurer to break such new ground in this market segment. At the same time, the green bond supports the...
Digit Insurance plans to raise $500 million via public offer, aims a $5 billion valuation
Digit was valued at close to $4 billion earlier this month when it raised a tranche of funding. It has so far raised more than $400 million from Sequoia Capital, A91 Partners and Faering Capital, besides Fairfax MUMBAI: India's Digit Insurance, backed by Canadian...
SpiceJet faces ransomware attack, many flights impacted
"Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation and flights are operating normally now," the SpiceJet tweeted after getting...