“Insurers have a key role to play in the development of the...
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New India’s net profit jumps 80% to Rs391 crore in Q1FY 26, gains market share
Girija Subramanian, CMD. NIA “ Our domestic gross direct premium...
Companies struggle to meet rising demand for personalized benefits, Aon Survey
"Employees increasingly expect a consumer-grade experience when it...
Moscow halts grain deal in what UN says is a blow to people in need everywhere
Any resumption of shipments without Russia's blessing would probably depend on insurers. Industry sources told Reuters they were studying whether to freeze their coverage "The (key) question is whether Russia mines the area which would effectively cease any form of...
Higher losses during disasters due to abysmally low insurance cover of 8%: SBI Report
The losses due to the ongoing floods in the north is the range of Rs 10,000-15,000 crore as the calamity has severely hit Himachal Pradesh, Uttarakhand, Punjab, Uttar Pradesh, Rajasthan, J&K and Delhi. Himachal alone would have lost Rs 3,000-4,000 crore by way of...
Insurers reviewing Black Sea ship cover after Russia suspension
“Annual cover remains in place but voyages to listed areas will be assessed individually as and when seen,” Neil Roberts, head of marine and aviation at Lloyd’s Market Association, which represents the interests of all underwriting businesses in Lloyd’s. Insurers are...
IRDAI asks insurers to quickly settle claims out of North In dia floods
Insurers are advised to respond/assist the claimants through their 24x7 helplines,special claims desks at district level with delegated claims settlement teams for speedyprocessing and settlement of claims including on account payments at the earliest andalso...
South Korea flood death toll rises to 40, Yoon blames botched responses
The incident fueled questions over South Korea’s efforts to prevent and respond to flood damage. Some drivers who use the road regularly blamed the government for failing to ban access to the underpass even though floods were widely forecast South Korean President...
Russian oil headaches for buyers as crude prices hit $60
India and China have been the two dominant buyers of Russian crude since the invasion of Ukraine more than a year ago prompted others to shun the OPEC+ producer. As Urals climbs above the limit set by the Group of Seven, however, importers will face greater scrutiny...
UN scrambles to save Black Sea grain deal, with EU help, ahead of Monday deadline
The EU is considering connecting a subsidiary of the Russian Agricultural Bank (Rosselkhozbank) to the international payment network SWIFT to allow for grain and fertilizer transactions, sources familiar with discussions told Reuters on Wednesday. The European...
Property insurers’ ratings under pressure as risk rises: Morningstar
Insurers can opt to pay more for the same reinsurance package, or cut costs by restricting new business, withdrawing from certain regions or business lines or adjusting their strategy, such as by cutting costs on more frequent but less severe perils, Morningstar said....
Russia’s flagship crude oil surpasses G-7 price cap for first time
For some buyers of the Russian flagship crude, the breaching of the cap poses an immediate headache. This is especially true in India, a market that has sustained Russian exports but where some purchasers are still reliant on key Western services to keep imports...
AXA weighs offloading $2 bln reinsurance arm to cut disaster risk – sources
French insurer AXA SA has been discussing strategic options for its XL Re unit, including a possible private sale or stock market listing, said the people, who spoke on condition of anonymity Paris: One of the world’s top insurers is mulling offloading its property...