The war has closed much of the region’s airspace and crippled Dubai...
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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...
Govt says Air India plane crash probe report will be out “very soon”
"Regarding the AI171 crash that happened in June last year, the...
Zurich to increase headcount by 40 % in India
Tulsi Naidu, chief executive officer for Asia Pacific There are opportunities to grow in commercial, small and medium enterprise, assurance, auto and general insurance, Naidu said, noting the business has already recorded growth of 40% “over the past few years.”...
India Inc’s Risk Index: Demonstrating Resilience
Cyber-attack or data breach is considered to be one of the most critical risks faced today. The BFSI sector endeavored to overcome the same by adopting data security measures including database encryption, stricter controls across levels and application of data...
Issuance of cat bonds set to hit a record this year
Catastrophe bonds are generally issued by insurers looking to pass a chunk of their risk over to capital markets. Issuance has picked up lately, with factors including climate change, population density and inflation adding to the potential losses that insurers face....
53rd GST Council- No tax on co-insurance and reinsurance commission, Rs 25,000 crore demand notices on Indian re/insurers revoked
(LtoR)- Sanjay Malhotra, Revenue Secretary, Nirmala Sitharaman, Union Finance Minister and Pankaj Chaudhary, minister of state,Ministry of Finance, at a press meet on Saturday after the 53rd Goods and Services Tax (GST) Council meet in New Delhi Earlier, Indian...
Industry urges action in Red Sea to stop attacks on merchant shipping by Houthis
Insurance industry sources said on Wednesday there was also mounting concern over the use of attack drone boats by the Houthis Urgent action must be taken in the Red Sea to stop attacks on merchant shipping by Yemen’s Houthis, leading industry groups said on...
Climate Change: The Era of Super-Wild Weather Is Already Here
Erich Fischer, a climate scientist at ETH Zurich, has been trying to do for heat something similar to what US researchers want to do for precipitation. His work in recent years has helped demonstrate that temperature records around the world are falling by greater and...
AIC’s net profit grows 20% to Rs 904 cr in FY24
`For FY 25, the company is targeting to grow its premium income in a single digit of around 5 per cent to 8 per cent. With continued efforts on claim management initiatives, the company is confident of maintaining the healthy claims ratio and confident of making the...
World’s largest shipping register withdraws its approval for Russia’s Ingosstrakh Insurance
In practice, the Liberia’s move may well prove symbolic. There are only three vessels covered by Ingosstrakh that sail under the flag of Liberia and none of them are oil tankers, according to a vessel database maintained for the International Maritime Organization The...
More than 800 coal plants worldwide could be profitably decommissioned, research group says
Around 15.5 billion metric tons of carbon dioxide are generated every year by 2,000 gigawatts of coal power. The International Energy Agency says emissions need to reach zero by 2040 if temperature rises are to remain within the threshold of 1.5 degrees Celsius The...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late Saturday the oil leak from the vessel had been contained, and that the oil that escaped from the damaged tanker had been treated with dispersants Singapore: An oil spill caused by a dredger boat hitting...