The Iran-Israel conflict is, in many ways, a stark reminder of the...
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Escalating Hormuz tensions drive up Middle East war risk insurance costs, sources say
War risk insurance premiums for shipments to the Middle East Gulf...
Aon launches Aon Broker Copilot to modernize insurance placement with AI and data at scale
" "The industry is undergoing a fundamental shift. As risk becomes...
Aon’s rebuilding for resilience project addresses Hurricane Ian devastation
Dan Dick, global head of property analytics at Aon’s Reinsurance Solutions, said: “Our teams gained first-hand experience of the devastation caused by this historic hurricane, which allowed us to conduct thorough analyses and identify practical steps to improve...
IRDAI convenes 2-day industry CEOs meet on March 1-2 in Hyderabad
IRDA chairman Debasish Panda will address CEOs of general insurance companies, SAHI companies and reinsurers on March 1. On March 2, Panda will meet all the CEOs of the industry in the morning session and CEOs of only life insurance companies and reinsurance companies...
Swiss Re 2022 net profit down 67%; sees brighter outlook for 2023
"2022 was a challenging year, marked by the war in Ukraine, surging inflation, the tail end of the COVID-19 pandemic and elevated natural catastrophe losses. We have focused on addressing these challenges proactively," Chief Executive Christian Mumenthaler said...
Turkey Devastation: Insured losses at $2.4 billion, says Karen Clark & Co
The number of people killed by the deadliest earthquake in Turkey’s modern history has risen to 36,187, authorities said Total property losses from the magnitude 7.8 and 7.5 earthquakes are expected to be close to $20 billion, Karen Clark & Co said Catastrophe...
Rising toll makes quake deadliest in Turkiye’s modern history
Confirmed deaths in Turkiye passed those recorded from the massive Erzincan earthquake in 1939 that killed around 33,000 people. Speaking in Ankara following a five-hour Cabinet meeting held at the headquarters of disaster agency AFAD, Erdogan said 47,000 buildings,...
Insurers are committed to making a bigger impact on mental health, says Geneva Association report
For life and health insurers, who absorb related financial shocks through disability and income protection insurance, this is manifest in paying out close to USD 15 billion in mental health-related disability insurance claims annually. In many countries, this number...
HDFC Ergo General plans to raise Rs3 billion through 10- yr bonds
The private insurer has invited coupon and commitment bids from bankers and investors on Thursday,. MUMBAI: India's HDFC Ergo General Insurance plans to raise Rs 3 billion ($36.18 million) selling subordinated bonds maturing in 10 years, two merchant bankers said on...
Bird flu spreads to new countries, threatens non-stop ‘war’ on poultry
Outbreaks of the virus have continued in North and South America, Europe, Asia and Africa, undefeated by summer heat or winter cold snaps, since a strain arrived in the United States in early 2022 that was genetically similar to cases in Europe and Asia The virus...
RiverStone’s landmark third-party reinsurance-to-close deal with MS Amlin, largest in Lloyd’s history
London: RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to provide MS Amlin Syndicate 2001 (“MS Amlin”) with a Reinsurance-to-close...
Around 10 states, 5 UTs not implementing crop insurance scheme PMFBY: Tomar
Union Agriculture Minister Narendra Singh Tomar The ten states are: Arunachal Pradesh, Bihar, Gujarat, Jharkhand, Meghalaya, Mizoram, Nagaland, Punjab, Telangana and West Bengal, the minister said in a written reply to the Rajya Sabha Since inception of the scheme in...