Howden has appointed of Bozidar Ljubisavljevic as executive...
Category:
Non-Life
Latest
NCLT reserves order on Torrent Investent’s plea against lenders on bidding
In its appeal, Torrent Investment said the matter is pending with...
Mukesh Ambani in talks with head hunters for spotting Jio Insurance CEOs
Mukesh Ambani,Chairman,Reliance Industries Limited Korn Ferry and...
IRDAI unveils norms on exclusions in health covers, new products from 1st April, 2020
Every health insurance product has to cover all pre existing diseases disclosed by the persons to be insured immediately after the expiry of the forty-eight months waiting period or such lower period as stipulated in the product, said the IRDA’s draft exposure draft.
Ping An ranks 7th on Forbes’ ‘Global 2000’ List
Ping An’s revenue during the period covered was US$151.8 billion, with a profit of US$16.3 billion, assets of US$1,038.3 billion and a market capitalization of US$220.2 billion.
Boeing completes 737 Max software upgrade
Boeing said that once information on how pilots work with the upgraded system is submitted to the FAA, it will work with the regulator to schedule a certification test flight and submit final certification documentation
Bajaj Allianz General reports a net profit of Rs 780 crore in 2019-20
Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said that, “In a year which saw the industry combined ratio deteriorate from 113 per cent to over 120 per cent and where the growth dropped from 17 per cent to about 12 per cent Bajaj Allianz General Insurance witnessed a growth of 17 per cent which is over the market and a combined ratio which is below 100 per cent.”
Advisory firms urge ‘No’ vote on AIG execs’ pay packages
AIG’s board awarded Duperreault $21 million last year, less than half his compensation in 2017.His pay compares with $10 million to $17 million for CEOs of major U.S. competitors Prudential Financial Inc, Travelers Companies Inc and MetLife Inc.
Commercial insurance prices up 3% globally, 1.1% in U.S. in Q1: Marsh
Casualty prices declined globally 0.7 per cent, continuing a trend of year-over-year declines stretching back to 2013.
Cyber Insurance growth slows down in US, records reaching $2 Billion in 2018, Fitch
Standalone cyber insurance premiums grew 12% in 2018, according to insurer statutory financial data. Fitch said high profile cyber events and previous uncertainty around cyber terms in commercial insurance policies continue to demonstrate the need for coverage. Insurers are addressing silent cyber risks by adding affirmative coverage in policies, including sublimits and cyber endorsements, but these efforts vary widely among individual companies.
Indian pharma majors deny allegations of price fixing in US
The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.
Cyber Risks to exceed Natural Disasters for insurers: Scor CEO
While the cost of cyber risks has been small until now, the panel agreed it was only bound to increase. Kessler said the cyber risk could exceed $600 billion per year “in the worst case scenario.” That compares with the yearly cost of natural catastrophes, which he said is about $230 billion. The cyber risk “would dwarf it. So it gives you a size of the risk,” Scor Chairman and Chief Executive Officer Denis Kessler said.
New India Assurance records a net profit of Rs 605 cr in 2018-19
“While the FY 19 numbers have been below par, the company continues its focus on reducing the loss ratio and combined ratio and deliver better results going forward,” said Sahai