French insurer AXA SA said that it has provided liability insurance...
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Jeju Air crash victims could have all survived without concrete barrier, lawmaker says
The Boeing 737-800 coming from Bangkok belly-landed and overran the...
Geopolitical Risks: Venezuela and the shifting map of insurance risks in the Caribbean
While Venezuela has long been a marginal market for most...
New India’s net profit at Rs 713 crore in Q3FY24 despite large Nat Cat losses
"FY24 continues to be a challenging year for the company. In the third quarter, the country witnessed catastrophic events like cyclone Michaung and floods in South India, Sikkim West Bengal. The net impact of these events on the company's third-quarter results was...
Govt, exporters, shippers discuss Red Sea crisis; commerce ministry asks FIEO to share specific issues
The exporting community has urged the commerce ministry to intervene in freight rates as the shippers are charging huge amounts.High freight rates are impacting the exporting community. We are at dis-advantageous position as compared to countries which are not getting...
Fosun said to revive sale of Hong Kong’s $1 billion Peak Re
Founded in 2012, Peak Re focuses on insurance including property and casualty, and life and health, its website shows. It has more than 580 clients across 60 markets in Asia Pacific, Europe, the Middle East, Africa and the Americas. Fosun International Ltd. has...
GIC Re net profit jumps 27% to Rs1,518 crore in Oct-Dec Qtr, further reduces loss making Crop biz
`Our results during the quarter are more or less as per expectations. Domestic premium this quarter has come down due to our decreasing agricultural business. Combined ratios have gone up in domestic due to two natural catastrophic events in the quarter,'' said N...
Premiums for disaster-prone areas need to be subsidised: Parl panel
This may require a specialized insurance business to be set up by one of the PSU general insurance companies with subsidized premiums for disaster-prone areas, the panel said The government may need to consider how to provide insurance for projects that have to deal...
CCI approves Zurich Insurance stake in Kotak Mahindra General Insurance
In November last year, the Switzerland-based Zurich Insurance Group had agreed to acquire a 51 percent stake in Kotak Mahindra General Insurance Company for about Rs 4,051 crore. The proposed transaction valued Kotak Mahindra General Insurance Company at Rs 7,943...
LIC shares cross Rs 1,000 mark, GIC re touches issue price of Rs 433 for the first time
The shares of New India Assurance(NIA) also rose almost 10 per cent and closed at Rs 265.10 in BSE New Delhi: The upward share prices of Life Insurance Corporation of India (LIC) and GIC Re, state-owned multinational reinsurer, on Monday brought cheers to the retail...
WTW launches world-first parametric insurance protection for endangered South Pacific coral reef system
Sarah Conway, Director and Ecosystem Resilience Lead, WTW, said: “We are grateful to BHP for supporting the design and implementation of the first coral reef insurance programme in Fiji. Building on lessons learned from our involvement with similar initiatives in...
Cyber threat,public liability and geopolitics pose greatest risk to organisations: WTW survey
Ben MacCarthy, Head of Real Estate, Hospitality & Leisure, Asia, at WTW, said: “We found APAC firms pursuing innovative solutions through Proptech, with a focus on SMART buildings and improving ways data is accessed accurately especially to adapt to ESG and...
At Rs15 crore, GIC Re tops India Inc’s per employee profitability chart during FY 2022-23
A dividend cheque of Rs.1083.60 crore for FY 2022-23 was handed over to Finance Minister Nirmala Sitharaman by N. Ramaswamy, CMD, GIC Re with M P Tangirala, additional secretary, Dept of Financial Services (extreme left), and, Hitesh Joshi, general manager, GIC Re...