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Marsh appoints Andrea Bono as CEO of India, Middle East, and Africa
Andrea Bono, CEO=designate, India, Middle East, and Africa (IMEA),...
Hurricane Melissa to trigger Jamaican Cat Bond, reinsurance losses
Hurricane Melissa will trigger the $150 million, International Bank...
Europe agrees on rules to protect smart devices from cyber threats
Manufacturers will have to assess the cybersecurity risks of their products, provide declarations of conformity and take appropriate action to fix problems during the expected lifetime of the product or for at least five years EU countries and EU lawmakers on Thursday...
Govt is committed to develop a `Global Reinsurance Hub’ in India: Sitharaman
Nirmala Sitharaman, Union Finance Minister Lloyd’s is evaluating its options for setting up in GIFT City. The summit jointly organised by IFSCA and IRDAI has allowed the market to engage with the two regulators and obtain clarification on a number of areas, said...
UK health insurance rates to soar on surging claims-industry experts
British individual and workplace health insurers paid out a record of nearly three billion pounds ($3.74 billion) for claims in 2022, an ABI spokesperson said. Employers are enthusiastic about offering health cover, as delayed treatment can lead to sickness and...
First bond to insure against cyber attacks issued
Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond, sponsored by AXIS Capital, to insure against “a cyber-catastrophe event” across its main underwriting units, the Bermuda-based firm said Tuesday. “We expect this transaction will serve as a template...
After Munger’s death, Berkshire succession comes into focus
Ajit Jain,Vice Chairman, Insurance Operations, Berkshire Hathaway Charlie Munger's death, on Tuesday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Warren Buffett's top...
US warns of evolving threats to ships sailing in Red Sea
Most insurers already charge extra premiums for sailing through those waters and those charges could increase further if the attacks continue, according to Munro Anderson, head of operations at Vessel Protect, a specialist marine war risks underwriter A spate of...
Sitharaman to address global reinsurance meet in Mumbai on Thursday, to promote India as a global reinsurance hub
The power packed event will be addressed by Vivek Joshi, secretary, Department of Financial Services, Debasish Panda, chairman, IRDAI, K. Rajaraman, chairperson, IFSCA, Hasmukh Adhia, chairman, GIFT City, Siddhartha Mohanty, chairman, Life Insurance Corporation New...
Spiraling climate costs make insurance unaffordable for some Australians
Over a million households now face home insurance affordability stress, As a growing number of people dump or scale back their insurance, a “protection gap” is emerging, said Andrew Hall, head of the Insurance Council of Australia Increasing numbers of Australians are...
PSU insurers’ shares see sudden spurt on Friday
After lying low in recent years, on Friday GIC Re's share price has risen by 15 per cent to Rs 304.45 while NIA's scrip has gone up by 20 per cent to Rs 209. LIC's share gained 10 per cent and closed at a monthly high of Rs 678 on Friday Mumbai: Though , Sensex fell...
AM Best revises GIC Re’s Credit Rating outlooks to positive from stable, assigns National Scale Rating
Ramaswamy Narayanan, chairman and managing director, GIC Re The revision of the Long-Term ICR outlook to positive from negative reflects an improvement in AM Best’s view of GIC Re’s balance sheet strength and ERM fundamentals `With positive Credit Rating...