The Atlantic hurricane season has been unusually quiet this year,...
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Landslide, possible dam breach may have triggered Nepal flash flood,damages two hydropower projects damaged
The flood that struck Nepal around 4 am local time swept away...
Companies experience sharp increase in business interruption losses, says Allianz
According to a new analysis from Allianz Commercial, the average...
Q1FY 27: GIC Re net profit rises 10% to Rs1922 cr, prm soars 9% to Rs13,475 cr, Combined ratio improves 2.06% to 104.88%
``Our premium growth has came from Health, Life Re and Surety portfolios. We are committed to disciplined underwriting, particularly Fire and Engineering. Fire segment continues to witness intense competitive pressures at both the insurance and reinsurance levels,...
Liberty Mutual Reinsurance makes world’s first earthquake parametric payment triggered by Safehub’s Shake Network
Jean-Christophe Garaix, head of parametrics and agriculture at Liberty Mutual Reinsurance, said: "Parametric insurance is increasingly being used to support natural catastrophe events. We deliver sophisticated parametric solutions which help clients in their times of...
“India showing interest in Northern Sea Route cooperation,” says Putin as he warns of “artificial tensions” in Arctic
The Russian president further cautioned that any retaliatory action by Moscow would not be restricted exclusively to the maritime zones where Russian vessels might be detained. These remarks follow intensified efforts by the EU aimed at curbing Russia's shadow fleet,...
Oman says spill from grounded shadow oil tanker covers 400 square kilometers
Built in 2001, it is part of the so-called shadow fleet of older oil tankers used by Russia which lack Western insurance cover and sail under the flags of various nations to obscure their true ownership. Leaking crude oil from a tanker grounded off a nature reserve in...
Four crew, two rescuers killed in Red Sea attack; US strikes ship in Gulf of Oman
Traffic is even more disrupted in the Strait of Hormuz with just six passing through on Monday, down from a 10-day average of about 11 and prewar levels of some 130 to 140. Shipping through the Bab el-Mandeb strait and Red Sea has fallen by more than 50% since an...
Changing Hazards:Benign H1 2026 masks rising natural catastrophe risk, finds Swiss Re
Wildfire risk has so far accounted for only a relatively small share of insured losses in Europe. Yet it is the fastest-growing weather peril globally. Insured wildfire losses in Europe have increased by an estimated 8–11% per year in real terms since 1970, Swiss Re...
Key question:Whether reinsurers can maintain underwriting discipline or will irrational competition emerge
“If underwriting discipline and pricing integrity can be maintained despite record levels of capital, the industry may indeed be in the midst of a meaningful evolution of the reinsurance market. If not, history may once again demonstrate that the fundamental dynamics...
General insurance premium grows by 10.50 % in July to Rs 31,000 cr
Seven stand alone health insurers (SAHIs) together have grown their premium income by 30 per cent to Rs 4666 crore in July Mumbai:Boosted by Health and Motor segments, the Indian general insurance industry has seen a growth of 10.50 per cent year-on-year(Y-o-Y) in...
Munich Re posts better-than-expected profit amid low loss claims
`We deliberately opt not to take on business where prices would not be risk-commensurate, while remaining a reliable long-term partner to our clients, even after the largest of loss events.''Christoph Jurecka,Chair of the Board of Management. German reinsurer Munich...
Proposed Hormuz passage deal not feasible for shipping industry, sources say
Ships sailing through the strait need to pay an additional war risk premium to ensure they have insurance if their ship is damaged during transit. “Under the clause, insurers have no liability to indemnify any such payment and, where such a payment has been made, are...