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UnitedHealthcare CEO’s shooting opens door for many to vent frustrations over insurance
In particular, the words written on ammunition found at the...
Globally, Natcats result in $133bn economic and $ 51bn of insured losses: Munich Re
The costliest typhoon in Asia – and the third-costliest cyclone of...
India eyes turning 3-wheelers into EVs
Mahua Acharya, MD and CEO,Convergence Energy Services Ltd said there are 5.5 lakh electric three-wheelers (E3W) on the road.
”After accounting for central government subsidy, the price of E2W comes to Rs 55,000 to Rs 1.3 lakh. If states give subsidies, the prices will come down further. At this, price is very competitive (compared to fossil-fuel-based two-wheelers),” she said.
South African state insurer in talks over larger bailout
Sasria, the only insurer covering political violence in Africa’s most advanced economy, has suffered a sudden deterioration in its financial position after some of the worst violence in the post-apartheid era erupted in July soon after the arrest of former president Jacob Zuma.
Peter Zaffino to assume additional role of Chairman of AIG from Jan 2022
Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at year end 2021
HDI Global first partnership on autonomous vehicle segment
Meryem Seyyar, Head of Digital Solutions commented: “This is the perfect time for HDI Global to take a lead and increase its support for the development of the Autonomous Vehicle & Systems ecosystem. AV’s will undoubtedly be a significant part of everyone’s future and the sooner we can establish our expertise and process within the space, the better we will be able to serve our partners moving forward.”
Cannot order door-to-door COVID vaccination in this diverse country, or just scrap policy: SC
A bench of Justices D Y Chandrachud, Vikram Nath, and Hima Kohli refused to entertain a plea of a lawyers’ body seeking door-to-door COVID-19 jab for the disabled and people belonging to weaker sections of society, said the vaccination drive is already in progress and over 60 percent of the population has been administered the first dose.
Shared ‘grief and anxiety’ a powerful unifying factor in COVID fight
“Rarely have we been so united against a common challenge. We must build on this shared sense of grief and anxiety, and work together to not only tackle COVID-19 but all other challenges that stand in our path,” he added.
Reinsurance price rise slowing due to strong capital supply and recovering profitability: Fitch
Fitch expects the sector’s combined ratio, normalised for large losses, to improve by 2pp–3pp in 2021 and another 1pp–2pp in 2022 as price increases gradually feed into underwriting margins.
However, price rises are slowing due to strong capital supply and recovering profitability, and we expect risk-adjusted prices to remain largely unchanged in 2022.
New India’s credit ratings affirmed, with $ 5.1 billion of capital co can insure large overseas risks: AM Best
NIA’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which remained at the strongest level in fiscal year 2021, as measured by Best’s Capital Adequacy Ratio (BCAR).Its underwriting portfolio is considered to be well-diversified by line of business, distribution channels and geographically. In addition, the company is the only direct insurer in India with considerable overseas operations, which provide a level of diversification to its domestic portfolio. While the domestic market continues to present significant growth opportunities for New India, intense competition in the largest lines of motor and health business continue to drive premium rate inadequacies and pressure underwriting margins, said AM Best.
RMS to enhance risk analysis for J. B. Boda’s India Portfolio
This agreement will strengthen J. B. Boda’s risk analysis capabilities to enhance their support of clients that have portfolios with risk exposure in India. J. B. Boda continues to grow its activities and client base in various markets. It is further enhancing its in-house capability of assessing risks.
AXA exits insurance operations in Gulf region
The sale of AXA’s 28% shareholding in AXA Green Crescent Insurance Company (in UAE), representing cash consideration of USD 5 million (or Euro 4 million*), has received required regulatory approvals and is also expected to close shortly.