Jamaica’s losses will range between $5 billion to $16 billion,...
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LM Re appoints Andrew Aldwinckle as International Casualty Chief Underwriting Officer
Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual...
MS Amlin signs multi-year deal for CyberCube Solutions to support cyber growth strategy
Chris Methven, Chief Growth Officer at CyberCube, said,``Our...
RiverStone’s landmark third-party reinsurance-to-close deal with MS Amlin, largest in Lloyd’s history
London: RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to provide MS Amlin Syndicate 2001 (“MS Amlin”) with a Reinsurance-to-close...
Around 10 states, 5 UTs not implementing crop insurance scheme PMFBY: Tomar
Union Agriculture Minister Narendra Singh Tomar The ten states are: Arunachal Pradesh, Bihar, Gujarat, Jharkhand, Meghalaya, Mizoram, Nagaland, Punjab, Telangana and West Bengal, the minister said in a written reply to the Rajya Sabha Since inception of the scheme in...
UK to expedite insurance reforms, to release £100 billion of capital for investment
Officials could look to implement the Solvency II reforms in two stages, the Financial Times, which first reported the news, said. Insurers could be allowed to swap bonds they have to hold currently for assets such as green technology or housing at first, with other...
GIC Re’s net profit zooms to Rs 1,200 crore in Q3
As a result of tight underwriting practices in recent years, the third largest Asian reinsure has managed a better combined ratio and lower underwriting losses in Fy 2022-23 Mumbai: Returning to profitability, state owned reinsurer GIC Re’s net profit has...
Turkey, Syria deadly earthquake could cost $4 billion in economic losses,Insured losses expected much lower $1 billion: Fitch
Insured losses will be much lower, possibly around $1 billion, due to low insurance coverage in the area, Fitch added Paris: The earthquake that has devastated Turkey and Syria could cause economic losses exceeding $4 billion, ratings agency Fitch said on Thursday....
Hackers who breached ION say ransom paid; company declines comment
The ransomware outbreak that erupted at ION on Tuesday has disrupted trading and clearing of exchange-traded financial derivatives, causing problems for scores of brokers, sources familiar with the matter told Reuters this week. The hackers who claimed responsibility...
Budget-2023-24:Beyond tax-saving-driven insurance sales
Bhargav Dasgupta – MD & CEO, ICICI Lombard For a sector such as general insurance, where the industry has sought tax support for increased spend on home insurance or health, there is a message that they will have to strive for growth beyond tax-saving-driven...
7.8 magnitude quake knocks down buildings in central Turkey
Several buildings tumbled down in the neighboring provinces of Malatya, Diyarbakir and Malatya, HaberTurk television reported. There was no immediate reports on casualties The earthquake was also felt in Lebanon and Syria ANKARA: A 7.8 magnitude earthquake shock...
Budget-23-24:Boosting Indian re/insurance sector
Leaders of the Indian insurance Industry have hailed the Budget-2023 as positive for the economy which will throw a lot of opportunities for the insurance industry Devesh Srivastava, CMD, GIC Re Finance Minister has delivered a holistic and futuristic Budget ensuring...
IRDAI retains reinsurance `Obligatory Cession’ at 4% for general insurers in FY2023-24
The government has notified move on Tuesday saying that the entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only. Mumbai/New Delhi: Disappointing the private sector general insurers and foreign reinsurers which are having...