The refiner, part-owned by Russian oil major Rosneft PJSC, is an...
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Govt has rescue-centric approach to handle disasters: Amit Shah
Amit Shah, Union Home Minister ``As a result of the efforts of the...
Howden Re appoints Candy Wong as Head of Treaty for Hong Kong
Howden Re has announced the appointment of Candy Wong as Head of...
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...
Munich Re exits Net-Zero Insurance Alliance
“In our view, the opportunities to pursue decarbonisation goals in a collective approach among insurers worldwide without exposing ourselves to material antitrust risks are so limited that it is more effective to pursue our climate ambition to reduce global warming...
Russia still uses Western insurance for half of its oil shipments
“Russia’s high dependence on insurance from G-7 and European countries for shipping oil means the price-cap coalition has strong leverage,” Meri Pukarinen, Europe-Russia policy officer at the Helsinki-based Centre for Research on Energy and Clean Air, said by email....
Swiss Re faces $6.3 million claim over sexism, unfair dismissal
The lawsuit by Julia Sommer, 41, brought after a Swiss Re senior manager commented about her breasts, made references about sex and discriminated against her, swings the spotlight back on an industry struggling to shake off a reputation for sexism. London: A former...
Swiss Re chairman Sergio P Ermotti to head UBS
Sergio P. Ermotti , chairman,Swiss Re The Swiss Re Board has nominated Jacques de Vaucleroy as new Vice Chairman and Lead Independent Director subject to his re-election as Board member by shareholders, effective post AGM Zurich: Swiss Re chairman Sergio P. Ermotti...
Expenses of Management(EoM): IRDAI fixes at 30% for general insurers,35% for health insurers
Premium in Rs, crore The new limit on EoM will be effective from April 1 The general and health insurers have to ensure that their expenses of management are within the allowable limit on the overall basis. Where the insurer has exceeded the allowable limits of...