“All the indications are that these have been deliberately...
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Deadly airline crashes tarnish industry’s sterling track record
And although the recent string of accidents may be statistical...
IRDAI imposes Rs 1cr fine on UIB Insurance Brokers for flouting premium remittance rules
According to the IRDAI, the broker does not have any right over the...
Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The longevity revolution is one of the defining challenges – and opportunities – of our time. Insurers are uniquely positioned to help people navigate longer lives. This will require bold innovation and...
Delta plane flips upside down on landing at Toronto airport, injuring 18
U.S. carrier Delta said a CRJ900 aircraft operated by its Endeavor Air subsidiary was involved in a single-aircraft accident with 76 passengers and four crew members on board. TORONTO: A Delta Air Lines regional jet flipped upside down upon landing at Canada's Toronto...
Aon appoints Jennifer Richards as CEO of Asia Pacific
Jennifer Richards, CEO designate, Asia Pacific, Aon "The Asia Pacific region is critical to Aon's strategy, representing significant growth opportunities across a diverse market," said Lori Goltermann, CEO, Asia Pacific, Aon DUBLIN: Aon plc today announced that...
Sompo Holdings establishes global Property and Casualty (re)insurance, and Wellbeing business segments
Sompo Wellbeing will work as one group to create products and services addressing challenges related to health, financial stability after retirement, and nursing care needs. These are all prominent challenges in Japan due to the country’s ageing population and...
Willis and Global Parametrics deliver new parametric solution to coffee farmers in Vietnam
If the rainfall dips below predefined values, the insurance is triggered and the farmers receive timely payouts without the need for lengthy claims processes or on-the-ground assessments Singapore: Willis, a WTW business, and Global Parametrics today announced the...
IFSCA cancels license of Prowess Insurance Brokers
GIFT City based the IFSCA has cancelled the license granted to Prowess Insurance Brokers Pvt. Ltd. (PIBPL), to operate a Branch office in GIFT IFSC as IFSC Insurance Intermediary Office (IIIO). The action is taken in light of non-compliance with directions...
Convex enters Lloyd’s with Syndicate 1984
Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025 London: Convex Group Limited (“Convex”), the international specialty insurer and...
Govt says Russian oil suppliers must provide sanctions-compliant cargoes
Indian refining officials said they have told Russian oil suppliers and traders that the oil they sell should comply with parameters of the U.S. sanctions. "We don't want to take risk. We are not going to touch any cargo that involves sanctioned entity or ships in the...
GIC Re makes a $25 million claim provisioning for LA wildfires, expands global biz 15% in Jan1 renewals
`We have a small exposure for LA wildfires. It's not major. Currently, we have provided about $25 million in our provisions. I tend to believe that this will come down, because these are very initial figures. We've still not received too many intimations from our...
China asks insurers to hold sufficient capital and liquidity
Companies should establish a concentration risk information disclosure mechanism and disclose annual concentration risk management information on their websites before June 15 each year, the regulator said China’s National Financial Regulatory Administration on...