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Insurance, JioAirFiber, CBG plants make Reliance’s roadmap for growth: Ambani
Reliance Industries Ltd will continue to invest in clean energy...
Munich Re launches parametric driven NatCatcover for small borrowers in India
``We worked with the insurers and launched product that pays if the...
Lloyd’s of London plots new course as storm clouds gather
London is still the largest centre for commercial insurance and reinsurance, but Singapore, Bermuda and Switzerland grew by 4 percent, 1 percent and 0.6 percent respectively each year from 2013 to 2015, while London shrank 0.3 percent, the report said.
When hackers strike, property insurance may not offer protection
Many companies have long-standing property insurance policies that offer a payout if a cyberattack results in physical damage, but they may not cover financial damage. Many of those policies were bought years ago, before cyberattacks became almost routine, and the terms and conditions haven’t been updated, according to Lori Bailey, Zurich’s global head of cyber risk, talking about the overall market for cyber insurance. That creates uncertainty for insurers and policyholders.
SBI General’s PBT at Rs. 470 crores for FY 18-19, underwriting profit at Rs79 cr
Pushan Mahapatra, MD & CEO, SBI General Insurance said, “It has been an excellent year, recording a healthy growth in both in top line and bottom line. We are one of the very few general insurance companies to have made underwriting profit despite being the youngest player in the industry. Our focus is to maintain our well-balanced LoB, profit and return on equity. We are particularly looking at strengthening our on-ground presence with an addition of over 1000 employees on a pan India scale while diversifying our product offerings.”
SBI offers 20 bps discount on electric vehicle loans
“We believe SBI green car loan (electric vehicle) scheme would act as a change agent in the auto loan segment and encourage customers to switch to electric vehicles which can improve overall air quality and lower carbon emissions,” SBI managing director, retail and digital banking, PK Gupta said.
Acko and Rapido tie-up to insure customers and captains
The comprehensive cover offered by Acko kicks in the moment a ride begins and secures the captain and customer against a multitude of risks. Besides death and disability where the sum insured is up to Rs 5 lakh, this cover also includes loan protection, medical expenses reimbursement and OPD treatment. Additionally, for captains, the insurance also covers child education, helmet and mobile damage
SBI Gen Insurance launches Cyber Defence insurance
SBIG’s Cyber Defense Insurance offers both first & third-party coverage benefits including coverage options for Contingent Business Interruption, System Failure, Reputational Loss, Multimedia Liability and Computer Crime. The crisis response service that comes with this product enables swift and efficient management of cyber events and provides IT forensic investigations, legal advice, reputational and PR management.
Govt & benefactors, not insurers, to bear cost of Notre Dame rebuilding
“It is really going to be up to the French state and benefactors to help to restore and rebuild this,” Robert Read, head of art and private client at Lloyd’s of London insurer Hiscox told Reuters, adding it could take up to 20 years to restore the cathedral.“The scaffolding costs are going to be enormous, actually securing the building is going to be enormous. The cost of renovating the (British) Parliament is a similar sort of number,” Read said.
ICICI General insurance net at Rs 228 cr , up 7.5 %,in Q4 FY 2018-19
The company’s combined ratio improved to 98.5% in last financial year as compared to 100.2 percent in previous financial year, driven by the reduction in the loss ratio to 75.3% in FY2019 from 76.9 per cent in FY2018.
Hannover Re scales back its exposure to coal-fired power plants
Furthermore, the Group has set itself the goal of no longer covering any coal-based risks in connection with power generation in its entire property and casualty reinsurance portfolio from the year 2038 onwards.
Munich Re Syndicate Singapore expands its Asian partnership
NECTAR’s professional line products are offered under the trading name of Nectar PRO, which is the Financial Lines business unit focused on emerging Asian markets in South East Asia and Indian sub-continent