On May 25, Liberia-flagged MSC ELSA3 ship travelling from Vizhinjam...
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MS Amlin appoints Nicola Harris to lead natural resources
In this role, Nicola will be responsible for leading the efforts of...
Zurich Kotak General Insurance launches commercial insurance
Alok Agarwal, MD & CEO, Zurich Kotak General Insurance Alok...
After Munich Zurich Insurance quits Net-Zero Insurance Alliance
Zurich’s departure will raise further questions about the workability of voluntary industry associations targeting emissions reductions. While GFANZ, as the biggest finance sector initiative with sub-groups covering insurance to banking, has raised the awareness among...
SC overturns SAT’s rulings against IRDAI, PJ Joseph and Marsh, upholds regulator’s order on `Marsh bribery case’
``The SAT has, ex-facie, gone wrong in observing that Atkins had relied on documentary evidence in support of the complaint. We have referred to the nature of the documents but we accept the argument of the IRDAI that these cannot constitute materials to trigger off...
Unseasonal rains: Crops on 60k hectares in Marathwada damaged, affects 1.22 lakh farmers; Nanded worst-hit
Quoting figures from the crop loss assessment survey carried out by the state government, he said Nanded saw the maximum loss with crops getting damaged on 21,579.50 hectares and affecting 36,543 farmers. Aurangabad: Crops on more than 60,000 hectares of land in...
Gehlot writes to Modi seeking change in rules for PM crop insurance scheme
Ashok Ghelot,Chief Minister,Rajasthan The chief minister has also demanded to change the rule of compensating farmers for loss of crops on only two hectares of land in cases of natural calamity and increase this limit, according to a statement. Jaipur: Rajasthan Chief...
Indian general insurance industry’s prm rises 16.50 % to Rs 2,56 trillion in fy2022-23, pvt sector captures 61.56% market share
Though, the actual figures are yet to be known for the whole year, this the second year, when the health business will be largest portfolio of the industry, followed by motor and crop At the end of Fy 2022-23, the four public sector general insurers, NIA,United India...
Total global reinsurance capital shrinks 12% to $638bn in 2022:Gallagher Re report
The drop in capital was driven by a decline in the value of investments. There was also a conspicuous absence of new capacity, despite the potential attraction of much tightened pricing and terms and conditions Perhaps most notably, for the first time in the past ten...
UN maritime agency raises concerns about shadow oil tanker fleet
Countries including Spain, Australia, the U.S. and Canada are part of a push at the IMO to increase oversight of the murky activities in oil trading that have emerged within the last year. Russia’s invasion of Ukraine — and subsequent sanctions by Western governments...
April 1 renewals: Reinsurers maintain discipline, focus on pricing and contract improvements, Gallagher Re
``Despite this more uniform and global approach, a client-led underwriting process remained evident. Clients and markets who had seen significant price increases and tightening of reinsurance conditions in recent years consequently experienced more measured...
Air India escapes premium hike in hard Apr 1 renewal, Tata AIG Gen replaces New India as lead insurer for the cover
With a good track record, AI has managed to hold on to the last year premium of $30 million After a year of ownership of Air India, Tatas have preferred to make their own subsidiary Tata AIG General insurance as the lead insurer for the airlines by giving larger...
LIC,GIC Re and NIA continue to be listed as D-SIIs in 2022-23:IRDAI
Domestic Systemically Important Insurers refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system, said the Irdai Hyderabad: Life...