The Strait of Hormuz remained largely blocked as shipowners try to...
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Govt,GIC Re and New India stitch up $100 million`Bharat Marine Pool’ with a sovereign guarantee, to re/insure war risks for vessels
The BNP will provide three kind of covers- Hull, Cargo and...
Kasturi Sengupta takes over as new Secy General of GI Council
Kasturi Sengupta, Secretary General, General Insurance Council...
India hasn’t directed oil refiners to stop buying Russian oil
India’s refiners have been singled out by the European Union and the US for supporting Moscow during its war in Ukraine with the oil purchases. It has become the world’s biggest buyer of Russian seaborne exports of crude, soaking up discounted barrels and ramping up...
IFSCA panel pitches for Cat Bonds and ILS in India
IFSCA can set up guidelines for the insurance-linked securities (ILS) and support initial issuance by way of cost subsidy/ grant on the lines of Singapore and Hong Kong. These incentives are important for creating a conducive ecosystem for ILS in the initial years, G...
Spike in Used Car Purchases: Transferring policies
“An untransferred insurance policy puts both the buyer and seller at risk. When making a claim, mismatched ownership details can effectively render the insurance void, as if there were no coverage at all.” – Mallikarjun Mallannavar, Chief Claims Officer at Royal...
Oriental Insurance puts Dubai operations under run off
``The OIC board has approved the decision and we have written to the Central Bank of the UAE that our Dubai office will be placed under run off operations with effective from midnight of 7th August. We will honour all our liabilities and commitments to all our...
Building Climate Resilience: Strategies for Indian insurance industry
Climate change is a systemic risk that demands a systemic response. As first responders to disasters, insurers must shift their mindset from viewing climate as a hazard to seeing it as a call to innovate Rakesh Jain, CEO, Reliance General Insurance India, with its...
Nearly 6.6 lakh new PM Jan Dhan Yojana accounts opened in 1 month
A staggering 55.44 crore Jan Dhan accounts have been opened in India, 56 per cent of which belong to women, and the total amount in these deposits has surpassed Rs 2.5 lakh crore as of May 21 this year. New Delhi: Nearly 6.6 lakh new PM Jan Dhan Yojana accounts were...
India aviation watchdog finds 263 lapses at Indian airlines in annual audit
DGCA found 51 safety lapses at Air India in its July audit, including lack of adequate training for some pilots, use of unapproved simulators and a poor rostering system, according to a government report seen by Reuters. NEW DELHI: India's aviation regulator said on...
Markel Insurance to sell reinsurance renewal rights to Nationwide
The sale is part of Markel's broader strategy to simplify operations and grow the business by empowering local expert teams to serve the distinct needs of their core specialty insurance markets. RICHMOND, Va: Markel Insurance, the insurance operations within Markel...
PB Fintech’s net profit increases 42% Rs to 85 crore, revenue up 33 % to Rs 1,348 cr in Q1 FY26
The company's insurance premium grew 36%, led by a 65% rise in new health insurance policies New Delhi: PB Fintech reported a 40% rise in first-quarter profit on Thursday, as more consumers turned to digital platforms for insurance products. The company posted a...
Aon promotes Rupert Moore as CEO, Reinsurance, Asia Pacific
Rupert Moore,CEO-designate, Reinsurance, Asia Pacific Moore will relocate to Singapore later this year and serve as an advisor to Aon’s APAC CEO Jennifer Richards to help advance the firm’s Risk Capital strategy for Japan DUBLIN: Global re/insurance intermediary Aon...