Indian general insurers, which will be generating a premium of over...
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India denies entry to Russian oil loaded ship over documentation, sources say
The vessel has protection and indemnity (P&I) insurance cover...
Insurers increasingly tap AI to tackle surging Cat losses
Risk experts are increasingly using AI to crack an especially...
De-board ‘unruly passengers’ for not following Covid-19 protocols in aircraft, says DGCA
In case, any passenger on board an aircraft refuses to wear a mask or violates the "COVID-19 Protocol for passengers" even after repeated warnings, during the course of the flight, such passenger may be treated as an "Unruly Passenger" New Delhi: The Directorate...
Russia to use state guarantees to bypass EU ban on insuring maritime oil deliveries to 3rd countries: S&P
Trading, insurance and shipping executives said last week that such a ban could further complicate trade in dry bulk and liquid commodities with Russia, making them more expensive, delaying scrapping of old ships, pushing up global freight rates and encouraging...
Indians planning to reduce number of cars they own: Survey
The public’s lack of interest in getting rid of polluting vehicles is a potential setback for India’s ambitions to turn net carbon zero by 2070. Recycling old cars is crucial for India to cut emissions considering the take up of electric vehicles is lagging due to...
Deadline to submit Reliance Capital resolution plans likely to be extended
According to sources, as of now, there are only three bidders who are actively engaged with the CoC for RCap's resolution. These are Piramal, Yes Bank and IndusInd Bank Mumbai: Lenders to Reliance Capital may extend the last date for submission of bids for acquiring...
General insurance industry’s premium surge by 25 % to Rs 15,275 crore in May
Led by ICICI Lombard General Insurance, the private sector general insurers’ total premium has grown by 17 per cent y-o-y to Rs 8034 crore in the month of May The private sector general insurers have increased their market share to 51.84 per cent(47.92 per cent) in...
AXIS Re to exit property reinsurance business, Ann Haugh will replace Arora as new CEO
“The decision to close our Property Reinsurance business was not taken lightly and was driven by the significant and increasing effects of climate change and the challenges faced by the catastrophe reinsurance market. We are committed to doing all we can to help...
IRDAI wants commission costs to be displayed on policy papers, to streamline Expense of Management structure for insurers
Rakesh Joshi, member (Finance and Investment), IRDAI Rakesh Joshi, member (Finance and Investment),IRDAI, had met chief financial officers (CFOs) of insurance companies and outlined IRDA's agenda of laying out a clear cut road map on expenses of management so that...
Ukraine war and cyber resilience combine to temper global ransomware activity: Howden report
Shay Simkin, Global Head of Cyber, Howden, commented: “Market conditions remain difficult, but two potential tailwinds may help companies and insurance carriers as this year progresses. The first is off the back of more favourable ransomware trends following...
Gallagher Re continues to strengthen APAC region with senior hires
Mark Morley, Managing Director of Asia Pacific at Gallagher Re, said, “ These latest senior appointments build out our strategic analytical, actuarial and client engagement capabilities across the wider Asia Pacific region, which continues to be a significant growth...
49 killed in fire at Bangladesh chemical container depot
“The fire was caused by chemicals including hydrogen peroxide, making the situation difficult,” fire service chief Brigadier General Mohammad Mainuddin told reporters at the scene where the firefighters were trying to extinguish the blaze amid intermittent explosions...