Underwriters are now charging 0.2% of the value of a ship for calls...
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Battery Ventures invests in Descartes Underwriting
“Over the past six years, Descartes has established itself as the...
Nuclear-powered ships may reshape trade with cleaner, faster transport, to pose problems for insurance
Commercial insurance companies won’t provide coverage for ship that...
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...
Bhaskar returns to GIC Re as GM
State owned GIC Re has announced the appointment of Girija Subramanian, general manager(GM) of the corporation as chairman-cum-managing director of Agriculture Insurance Company and relieved from the corporation with effect from Friday. Madhulika Bhaskar, who was...
Global insurance sector outlooks at risk from inflation, rising rates:Fitch
Non-life insurance sectors would typically be most exposed under the scenario, particularly those with a high proportion of long-tail business where higher-than-anticipated claims inflation could lead to reserve deficiencies London: Insurance sector outlooks in...
‘Clairvoyant’ 2012 climate report warned of extreme weather
In a report that changed the way the world thinks about the harms of global warming, the Intergovernmental Panel on Climate Change’s special report on extreme events, disasters and climate change warned in 2012: “A changing climate leads to changes in the frequency,...
Temp expected to go up by 2.2 degrees Celsius by 2050 in Assam
Assam is highly vulnerable to climate change due to its geographic proximity to the delta region and poor socio-economic conditions and it is reflected in the exposure, sensitivity, and adaptive capacity of the local population to climate-induced extreme events such...
20 crash-prone zones identified as hit-and-run zones in 2021: Delhi Police
The report identified pedestrians as the most vulnerable road users and two-wheelers as the second most vulnerable categories constituting 41 per cent and 38 per cent of the total persons killed in road crashes, respectively in 2021 New Delhi; The Delhi Police...