U.S. President Donald Trump On Saturday, Trump had warned that...
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Indian Non-Life Insurance Industry:On a growth trajectory
The Indian Non-Life insurance industry continues to show maturity...
2 pilots killed as Air Canada Express plane hits ground vehicle at New York’s LaGuardia airport, multiple injuries reported
Early reports from emergency responders indicate multiple injuries,...
Cathay Pacific grounds many flights after engine component failure
Cathay Pacific has not specified which engine component failed, but the carrier said it was the "first of its type to suffer such failure on any A350 aircraft worldwide". The source said the incident involved a leak in a system designed to inject fuel to the XWB-97...
Average annual NatCat losses for global insurance industry reaches new high of $151 billion: Verisk
“While actual annual insured losses over the past five years have been high, averaging $106 billion, they should not be seen as outliers,” said Rob Newbold, president of Verisk Extreme Event Solutions BOSTON, MA: Verisk, a global data analytics and technology...
Govt to sell 7% stake in GIC Re tom, to mop up Rs 4,701 cr
“Retail investors and GIC employees can bid on Thursday. The government will divest 3.39 per cent equity with an additional 3.39 per cent as green shoe option,” Secretary, Department of Investment and Public Asset Management, posted on social media platform X ...
MHA constitutes central team to assess damage caused by floods in Gujarat
Madhya Pradesh and Rajasthan were also affected by heavy to very heavy rainfall. Multiple spells of heavy rains, cloudbursts and landslides have caused extensive damage in Himachal Pradesh this year New Delhi: The Ministry of Home Affairs has constituted an...
South African Sanlam’s subsidiary Santam plans Asian expansion
We are looking at Asia and the Middle East from a reinsurance perspective. Our expertise and understanding works well in emerging markets, and we also find that those are also growth markets and so we want to tap into some of that growth,”,” Tavaziva Madzinga,chief...
Agile launches New Zealand operation to support Lloyd’s syndicate
The establishment of a New Zealand entity solidifies Agile’s position at the forefront of Lloyd’s business in the Pacific region and paves the way for other geographic expansion. Sydney: Agile Underwriting Services has established a presence in New Zealand, the first...
Sunk superyacht likely to cost insurers at least $150 million, experts say
The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said. The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover...
GIC Re emerges as the 10th largest global reinsurer in AM Best’s latest chart
In AM Best's `World’s 50 largest reinsurers in 2023’, Munich Re is the largest IFRS 17 reporting reinsurer followed by Hannover Re and SCOR Re. Swiss Re is the largest non-IFRS 17 reporting reinsurer globally, followed by Berkshire Hathaway and...
Japan issues emergency warning as powerful Typhoon Shanshan nears
The meteorological agency issued an emergency warning saying the typhoon could bring flooding, landslides and wind strong enough to knock down some houses Southwestern Japan braced on Wednesday for what officials say could be one of the strongest storms to ever hit...
Red Sea insurance nearly doubles after attacked oil tanker appears to leak oil
Insurance industry sources said on Wednesday additional war risk premiums, paid when vessels sail through the Red Sea, were quoted up to 0.75% of the vessel from 0.4% before the attack, although they were higher at 1% in February according to industry assessements of...