Commenting on the launch of Syndicate 2454 in South Africa, Mikir...
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Heavy rainfall unleashes deadly floods across Southeast Asia
Total number of confirmed dead in Vietnam is now 91.Flooding in...
Blackstone owned Ace Insurance Brokers make 3 sr level appointments
Blackstone owned Ace Insurance Brokers has made three senior level...
AM Best revises outlook on India’s Non-Life Insurance segment to stable
The Best’s Market Segment Report, “Market Segment Outlook: India Non-Life Insurance,” notes that factored into the outlook revision are recent regulatory shifts that have allowed for increased and new investments in Indian insurers by multinational players and direct...
Former BoI MD Atanu K Das selected as next IIRM director
The post of the director at IIRM will fall vacant shortly as the incumbent Suresh Mathur, who is on deputation from the IRDAI, will be retiring soon Hyderabad: Atanu Kumar Das, former MD & CEO, Bank of India(BoI), 60, has been selected by the insurance regulator...
Strong quake in Philippines triggers tsunami warnings and evacuations
The U.S. Tsunami Warning System, which initially warned of waves of up to 3 metres (10 feet) above the usual high tide level, later said there was no longer a tsunami threat The Philippine Institute of Volcanology and Seismology, Phivolcs, maintained that the risk of...
Govt has no plans to table `The Insurance Bill, 2023 during Winter Session of Parliament
``By all means, the fate of the `The Insurance Bill, 2023’ is now sealed and it depends upon the next government, which will be in place by June 2024, to take a call on this legislative document,’’ said government sources New Delhi: Any hope of `The...
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...