Central to the package is a lower price cap on Russian oil – a move...
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Private sector general and health insurers record higher underwriting losses in FY 25
Led by Tata AIG General insurers, which had an underwriting losses...
Uttarakhand crash: AAIB says helicopter tumbled down hill after rotor blade hit overhead cable
The 17-year-old Bell 407 helicopter operated by Aerotrans Services...
AXA reduces aviation war cover after Ukraine losses, sources say
One of the top 10 players in global aviation insurance, AXA XL is pulling back from underwriting risk on so-called war cover, the sources said, reducing options for airline operators or lessors seeking protection against loss or damage arising from warThe retreat by a...
WTW outlines “New Trilemma” of challenges for renewables-sector risk managers
: “Macro events and trends such as inflation, cost increases, security, and supply chains are impacting the renewable energy industry, making the current business environment a challenging one for risk managers. Several important steps will help them to assess their...
Hannover Re partners with Stone Ridge in first cyber risks transfer to the capital markets
"For the first time, we were able to transfer cyber risks to the capital markets, and on a substantial scale, through a proportional reinsurance solution. This underscores our lead role as a bridge builder between the capital markets and the insurance industry," said...
Green Bonds purchase by insurers to be treated as infrastructure investments: IRDAI
The regulator, in a circular dated Jan. 13, said the move was made with the objective of "de-concentration and diversification" of insurers' infrastructure portfolios as well as "from the perspective of participation in environmental, social and governance (ESG)...
Swiss Re appoints Velina Peneva as Group Chief Investment Officer
Velina Peneva is currently Co-Head Client Solutions & Analytics in Swiss Re's Asset Management. Previously, she headed Swiss Re's private equity investment mandate Zurich: Swiss Re announced today the appointment of Velina Peneva as Group Chief Investment Officer...
Globally, wildfires cost $50 bn every year; AI can help fight them: WEF
World Economic Forum said that global wildfires in 2021 released an estimated 6,450 mega tonnes of CO2 into the atmosphere Sensors with in-built AI can collect acoustic information or operate as smoke detectors in forests and alert authorities within the first hour of...
MS Amlin strengthens Asian reinsurance offering with Phoenix 3 Re launch
Phoenix 3 Re has secured over USD45m of collateralised capacity, more than its predecessors Phoenix 1 Re and Phoenix 2 Re. Alongside an increased underwriting risk appetite, this gives MS AAP close to USD83m of capacity through its Phoenix vehicles, to support local...
India may become the sixth largest insurance market in the world by 2032: Swiss Re Report
India will become the sixth largest insurance market in the world in terms of premium volume by 2032, up from 10th largest in 2021 Life insurance profitability in India to benefit from rising interest rates. Pandemic-related claims continued to impact life insurers’...
Malfunctioning of system human error could have caused Nepal plane crash Experts
The aircraft involved is a 15 year old ATR 72-500 with registration number 9N-ANC and serial number 754. This aircraft was equipped with an old transponder with unreliable data. We are downloading high resolution data and verifying the data quality," flight tracking...
68 killed in Yeti Airline plane crash in Nepal; fate of 5 Indians not known
Yeti Airlines' 9N-ANC ATR-72 aircraft took off from Kathmandu's Tribhuvan International Airport at 10:33 am and crashed on the bank of the Seti River between the old airport and the new airport minutes before landing, according to the Civil Aviation Authority of Nepal...