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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...
General Insurance industry’s prms rise 11 % to Rs 2.20 trillion in FY 2021-22, Health topples Motor as the largest portfolio
Thanks to Covid-19 Pandemic and stagnant motor third party premium for the last two years, for the first time in the history of Indian general insurance industry, in FY 2021-22, Health portfolio has replaced Motor business as the largest segment in the industry Though...
KKR signs agreement to acquire 10% in Shriram Gen Insurance for Rs1800 crore
Gaurav Trehan, Partner and CEO of KKR India, said, “Shriram General Insurance has been one of the standout performers in India’s fast-growing general insurance industry, and continues to build on their record by developing new capabilities, channels, and products to...
Six charred to death after blast at Indian chemical plant
Ahmedabad: A massive blaze touched off by an explosion at a chemicals plant in India's western state of Gujarat charred to death at least six people before it was brought under control, authorities said on Monday. The blast on Sunday night took place in a hub for...
Willis India receives IRDAI nod for full ownership, appoints Vivek Nath as head of India ops
Vivek Nath, CEO, WTW India SINGAPORE: WTW (Willis Towers Watson), the third largest global re/insurance broker, today has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) and has closed the transaction on the acquisition of...
Govt finalises Rs 5k capital infusion plans into 3 PSU gen insurers, National Insurance to receive Rs 3,700 cr
Delhi based Oriental Insurance Company has been given Rs 1200 crore while United India Insurance(UII) has been allocated just Rs 100 crore A notification will soon be issued by the Finance Ministry for hiking the authorised capital these three general insurers Before...
Private COVID vaccination centres can only up to Rs 150 as service charge on precaution dose
Serum Institute of India has cut the price of its Covishield COVID-19 vaccine as the country plans to offer booster doses to all adults from Sunday. The price will drop to 225 rupees ($2.96) a dose from 600 rupees for private hospitals, the chief executive of SII said...
Electric vehicle retail sales zoom over three-fold in FY22
Total EV sales had stood at 1,68,300 units in 2019-20 fiscal, it noted. According to the Federation of Automobile Dealers Associations (FADA), electric passenger vehicle retail sales stood at 17,802 during the last fiscal, up over three-fold from 4,984 units in FY21...
Managing Risk and Capitalising Opportunities in Connected Asia: AON Report
Anne Corona,chief executive officer, Asia Pacific, Aon `As traditional industry borders fall away in 2022, ecosystems and the digital platforms that enable them will continue to influence the future of business. Having an impact in the `New Better' will no longer be...
AIG looks at cutting insurance for Russia, Ukraine
“What we are now seeing are the underwriters starting to introduce Russia, Ukraine wording into their policies,” said Meredith Schnur, managing director, U.S. and Canada cyber brokerage leader at insurance broker Marsh, declining to name the insurers Insurance brokers...
Munich Re tightens up cyber insurance policies to exclude war
Munich Re is seeking clearer war exclusion clauses in cyber policies, based on wording developed last year in the Lloyd’s of London market S&P Global said last week that insurance losses from the Ukraine conflict could total $35 billion, with cyber one of the...