Air India had renewed its mega $20 billion insurance policy with...
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With India push, global commercial aircraft fleet size to double to almost 50,000 planes over the next 20 years
The global in-service fleet will swell by 24,480 units to 49,210...
Missiles, drones and proliferating conflict zones increasing burden on airline operations and profitability
Airlines are racking up costs and losing market share from canceled...
WTW appoints William Miller as Head of Crisis Management for APAC
Luke Ware, Head of Corporate Risk & Broking Asia, WTW said: “As geopolitical tensions rise, individuals and businesses are exposed to a wider range of security risks which is why we have expanded our offering to include domains such as Special Crime and high-risk...
EU agrees $60 Russian oil price cap
The G7 price cap will allow non-EU countries to continue importing seaborne Russian crude oil, but it will prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for less than the price cap...
2022 hurricane season: Fewer storms than anticipated, but still extremely damaging, says Munich Re
According to preliminary estimates, overall losses from all storms amounted to around US$ 110bn, with insured losses in the magnitude of US$ 65bn (excluding the National Flood Insurance Program NFIP1) `2022 continues the trend of increasing losses from US hurricanes...
Aon names new leaders for Asia Pacific Reinsurance Solutions
``In 2022, we have continued to strengthen our business and a key part of this success is building a team that inspires and energises each other to create differentiated solutions for clients and deliver the exceptional level of service our clients demand, George...
Govt proposes scrapping of minimum capital for insurers
The department of financial services (DFS) has said these amendments would enhance the financial security of policyholders, promote their interests, and improve their returns New Delhi: Revamping the existing regulatory frame work, the finance ministry has proposed...
Farmers paid Rs 1.25 lakh crore as claims till Oct 31: Government
''In the last 6 years, Rs 25,186 crore have been paid by farmers as the premium, wherein Rs 1,25,662 crore have been paid to the farmers against their claims as on October 31, 2022 with Central and state governments bearing most of the premium under the scheme,'' an...
AM Best maintains stable outlook on global reinsurance industry
Chief among the negative drivers is the heightened natural catastrophe activity that continues to test investors’ risk tolerance levels, according to a new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance.” AM Best has maintained its...
Hurricane Ian drives global Nat Cat insured losses to $115 billion in 2022: Swiss Re
2022 is the second consecutive year in which the estimated insured losses total more than $100 billion, continuing the trend of a 5–7% average annual increase over the past decade The re/insurance industry covered roughly 45% of the economic losses this year,...
Miller continues expansion of Asia Marine offering with new hire
Miller, the leading specialist (re)insurance broker, today announces the appointment of Choo Cai Ling in a production and broking role, joining its Singapore based Marine team. Cai Ling will begin the role on 1 December 2022 and report into Nick King, Head of Marine...
Martin Zschech to lead Global Industry Solutions & Client Management team at AGCS
Global Industry Solutions is a key part of the NEW AGCS strategy. It creates an industry-led sales model for AGCS targeting specific industry segments, with GIS Directors as single points of contact to drive solutions across all Lines of Business and other Allianz...