Zurich said the purchase will make it a top-three provider of life...
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Middle East Crisis: How US-Israeli war on Iran is upending global business
The war has closed much of the region’s airspace and crippled Dubai...
IRDAI issues licenses to Kiwi General Insurance and Allianz Jio Reinsurance, approves draft regulations for new SBSR Act
Ajay Seth, Chairman, IRDAI In order to expedite the regulatory...
Central Bank ventures into insurance, buys stakes in Generali’s Indian life and general insurance JVs
Central bank acquired acquired equity stake of 24.91 per cent of Future Generali India Insurance Company for Rs 451 crore. It also bought a 25.18 per cent stake in Future Generali India Life Insurance for a cash consideration of Rs 57 crore as part of the insolvency...
Govt and GIC Re are in talks to set up an exclusive mega Pool to reinsure country’s all hydropower plants
N Ramaswamy, CMD, GIC Re ``Currently, due to the huge catastrophic risks involved, there is very limited reinsurance capacity available for hydro power plants. More often, catastrophic covers are sub-imited. With climate risks and rising frequency and...
Burning cargo ship carrying 3,000 vehicles abandoned off Alaska
Smoke was initially seen rising from a deck loaded with EVs, the company said. It is not clear what brand of vehicles the ship was carrying. EV-related fires on ships are challenging to extinguish due to the heat generated and risk of reignition, which could persist...
14–19 named storms in tropical North Atlantic predicted in this year hurricane season
These numbers are slightly above the long-term average for 1950 to 2024 (12.5 named storms, 6.5 hurricanes and 2.6 severe hurricanes) and are in line with expectations for the cyclical warm phase in the North Atlantic since the mid-1990s (15.8 tropical storms, 7.8...
Riskcovry launches first Model Context Protocol server as a distribution platform
Riskcovry, an insurtech infrastructure platform, has launched the country’s first Model Context Protocol (MCP) server for India's insurance sector. A dedicated infrastructure designed specifically for insurance distribution use cases, the MCP server allows...
AIC pays Rs7,057 crore of claims to over 1.12 crore farmers in FY25: Chairperson
Lavanya R. Mundayur, CMD, Agriculture Insurance Company Crop insurance isn't just a business—it's a developmental tool for the entire rural ecosystem. It demands long-term commitment, timely claim settlement, use of technology for risk management, and a deep...
Northeast flood situation critical toll rises to 36 over 5.5 lakh affected
In Assam, more than 5.35 lakh people were affected by the deluge in 22 districts as the death toll increased by one to reach 11, while 15 rivers were flowing in a spate.In the current wave of floods and landslides across the northeastern region, Assam reported the...
Liberty General to pay motor damage claims due to Operation Sindoor
In the aftermath of the recent cross-border shelling during Operation Sindoor, Liberty General Insurance has become one of the first insurers to offer on-ground support and approve ex-gratia settlements for vehicle damage—even though such events fall under standard...
Lloyd’s announces a new Executive Team
Commenting on the appointments, Patrick Tiernan, Lloyd’s Chief Executive. said: “We will work at pace to deliver on the market’s short-term priorities. We will also work closely with Council to develop a long-term vision for the Corporation, that will strengthen and...
Aon appoints Andy Marcell to serve as CEO of Global Solutions
Andy Marcell Marcell will remain as CEO of Reinsurance until John Neal joins Aon on September 1, 2025, and continue to report to Aon President and CEO Greg Case and serve on the Aon Executive Committee. DUBLIN: Aon plc has appointed Andy Marcell to serve as CEO of...