A few names including Ashok Lahoty,appointed actuary of state owned...
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Aon sets up a new office in Mumbai
Rishi Mehra, CEO, India and Head of Strategy, Human Capital, Asia...
Aon appoints Nick Fraccalvieri as CEO of global facultative for its Reinsurance Solutions
In his new role, Fraccalvieri will be responsible for setting the...
Bayer proposes $7.25 billion plan for all Roundup cancer cases
The plaintiffs say they developed non-Hodgkin lymphoma and other forms of cancer due to using the weedkiller, either at home or on the job. Bayer said on Tuesday its Monsanto unit had filed a proposed U.S. class settlement totaling as much as $7.25 billion aimed at...
Rising civil unrest pushes up SRCC(strikes, riots and civil commotion) claims globally
Claims tied to SRCC — strikes, riots and civil commotion — are emerging as a growing headache for insurers as episodes of unrest increasingly lead to the destruction of property in Western democracies.Howden Re estimates that insured losses related to SRCC soared from...
Spain’s Map Re receives approval for its branch office in India’s GIFT City
“The authorization to operate in India means we’ll be even closer to our clients and that we’ll also be able to leverage our technical knowledge and underwriting capacity in a market with high development potential,” stated Miguel Rosa, CEO of Mapfre Re Mumbai/GIFT...
Investigation into AI-171 accident still in progress, clarifies AAIB
The preliminary report released earlier provided factual information available at that stage. The final investigation report, containing conclusions and safety recommendations, will be published upon completion of the investigation in line with established...
Aon appoints Joe Peiser as CEO of Risk Capital
Peiser's appointment reflects Aon's broader strategy to strengthen how the firm helps clients navigate increasing volatility by connecting risk with the most efficient forms of capital. DUBLIN: Aon plc, second largest international re/insurance broker today announced...
Japan:Businesses navigating rapidly changing market and geopolitical volatility
Tatsuya Yamamoto, CEO of Japan at Aon, said, “Japanese organisations are operating in an environment of unprecedented complexity. Cyber, weather and geopolitical risks continue to be acute challenges for Japan businesses, underscoring the need for robust risk...
Govt notifies wage revision for PSU general insurance industry
The overall hike in wage bill will be 12.41 per cent with an increase of 14 per cent on existing basic pay and dearness alowance.A total of 43,247 PSGIC employees will benefit from this revision.The total outgo for the six companies will be to the tune of Rs 8170.30...
US insurance broker stocks pummeled on AI disruption fear
Insurify’s app uses ChatGPT to compare auto insurance rates using details about the vehicle, the client’s credit history, driving record and other inputs. The company said the app launched on Feb. 3. US insurance broker stocks were pummeled Monday as the launch of an...
Parli Thermal Power Station asked to stop operation of 2 units for non-compliance of pollution norms
Parli Thermal Power Stations (PTPS) had not conducted the annual mandatory third-party safety audits of its ash dykes since 2019. The ash dyke areas were accessible to illegal excavators which can lead to serious environmental hazards, the letter said, adding that...
Aon and KNIAZHA VIENNA INSURANCE GROUP announce new $25M war-risk insurance facility with US’s IDFC
Greg Case, president and CEO of Aon The facility, which will provide reinsurance coverage from DFC on a portfolio of war risk insurance policies up to $100 million, will enable KNIAZHA VIG to deliver comprehensive, innovative war-risk insurance solutions to SMEs and...