Industry sources have said risk perception of Indian market has...
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Trade War: Container liners sever US-China shipping routes across the Pacific
As a result, fees are plunging. The cost of shipping a 40-foot box...
IPL suspended indefinitely as India-Pak clashes soar
"It does not look nice that cricket goes on while the country is at...
Aon names senior leader for APAC Cyber Solutions, furthering investment in cyber capabilities
Adam Peckman, senior leader for APAC Cyber Solutions,Aon “Only two in five businesses are ready to navigate new exposures arising from the rapid digital evolution we’ve witnessed across all industries in the past 24 months. Cyber risk cannot remain an IT risk or...
Erratic monsoon damaging crops: Experts say no impact likely on food security but farmers bearing brunt
The monsoon has given surplus rains in south and central India, while east and northeast India have reported precipitation deficit, said Mahesh Palawat, vice president (meteorology and climate change), Skymet Weather. The estimated dip in the Kharif rice output is...
IRDA forms Ritesh Kumar panel to study long-term products in Property (Dwelling), Motor and Health Insurance
The new WG will examine framework surrounding the products in general insurance including Health Insurance segment for other than annual policies and for uniformity in the approach to be followed Some of the other members of WG are-Neeerja Kapur, CMD, New India...
Majority of world’s largest companies exposed to impacts of climate change by 2050: S&P
“Investors and companies are seeking advanced analytics to respond to the financial impact of climate change. Essential to this, is the ability to quantify the financial impact of climate change at asset level to enable meaningful mitigation and adaptation planning,”...
South and Southeast Asian reinsurers improve underwriting performance, but challenges remain: AM Best
“Although investment returns are expected to increase over the near term alongside a recovery in interest rates, rising inflation in the region is likely to pose challenges in meeting the cost of capital prospectively,” said Kanika Thukral, senior financial analyst,...
FSIB selects 10 GMDs for PSU general insurers and GIC Re
After interviewing 20 candidates, FSIB has chosen Arvind Logani and YK Shimray(for New India Assurance), Inderjeet Singh and Madhulika Bhaskar(GIC Re), Rajeshawri Singh and Navneet Doda( for United India Insurance) and PR Chittaranjan and Geeta Santaseelan(for...
GIC Re is 3rd largest Asian reinsurer in S&P’s 2022 global chart
Globally, GIC Re, which is pruning its premium base by shedding its loss making business to be profitable, is the 14th largest international reinsurer in 2022. It was the 11th largest global reinsurer in 2021 ``We would prefer to be one of the largest profitable...
Super typhoon Nanmadol bears down on Japan’s Kyushu island
Railway operators and airlines have cancelled services and convenience store chain Seven-Eleven Japan temporarily shut around 950 stores. Toyota Motor Corp said it will idle production at three factories on Monday Typhoon Nanmadol bore down on Japan's southernmost...
AM Best affirms credit ratings of New India Assurance
AM Best views New India’s business profile as favourable given its market-leading position as the largest non-life insurer in India by gross premium written overall, as well as in major business lines, including health, marine, and fire The company’s underwriting...
Comprehensive action plan formulated under national logistics policy
High logistics cost in India impacts both external and internal trade. The cost in India is estimated at 13-14 per cent of the gross domestic product against 9-10 per cent in the US and Europe and 11 per cent in Japan It also involves 200 shipping agencies, 36...