The Japanese general insurance market is projected to grow from...
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Japan’s NEXI signs reinsurance agreement with ECGC
Under this agreement, NEXI will underwrite reinsurance for export...
Term, health insurance policyholders to benefit most from GST exemption on individual policies: Experts
Insurance industry hopes that key input services of commission and...
Political Risk loss frequency surges in 2022,Ukraine war delivers widespread financial losses
Looking to the year ahead, Ukraine heads the list of interview panel members’ top risks for 2023, followed closely by decoupling from China and crisis and new regulations in the EU The 6th annual political risk survey produced by WTW, found that an unprecedented 92%...
ICICI Lombard reports 40 pc jump in net income to Rs 437 crore in Mar quarter
Gopal Balachandran,chief financial officer and chief risk officer The key profitability metric, the combined ratio of the company stood at 104.5 in FY23 against 108.8 per cent in FY22. In the March quarter, it was 104.2 against 103.2 a year ago The insurer's...
Electric two-wheeler sales in India rise over two-and-half fold to 8,46,976 units in FY23: SMEV
"In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low-speed e-scooters were at 75,457 units, while those of high-speed e-scooters were at 2,52,443 units. SMEV said,...
Russia threatens West as Turkey seeks grain deal extension
While Russian food and fertilizer exports are not under sweeping Western sanctions, Moscow says restrictions on payments, logistics and insurance industries are a barrier ANKARA: Russia on Friday threatened to bypass the UN-brokered grain deal unless obstacles to its...
Munich Re won’t extend Nord Stream 1 coverage when it expires this year
Sources told Reuters that Allianz and Munich Re were among the European insurers that had previously renewed coverage for the damaged Russian-controlled Nord Stream 1 gas pipeline Munich Re will not proactively extend coverage for the Nord Stream 1 pipeline when it...
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...