The New India Assurance Company Limited on Tuesday said that it has...
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FAIR 2025: GIC Re to host 29th FAIR in Mumbai, Over 700 global delegates to celebrate 60 yrs of Afro-Asian bonding
Ramaswamy Narayan, CMD, GIC Re, observed,“Hosting the 29 th FAIR...
Riots impose financial strain on Nepal re/insurers
Oriental Insurance Company, a branch of India's Oriental Insurance,...
AUM Asset Management launches ILS Ocean Fund Investing in ILS
The underwriting strategy for The Fund will mirror that of the captive insurance company in which it is invested, Ocean International Reinsurance Co Ltd. ("Ocean RE"), and will take a vertical cut of all lines of business (excluding Life Business), supported by the...
UK in advanced talks with regulators on insurance reforms
Ministers have pushed for insurers to be able to direct more capital into areas such as infrastructure and climate transition. The Prudential Regulation Authority (PRA) has warned that loosening the restrictions on where insurers can invest could put future...
Developing countries, China seek ‘loss and damage’ fund – draft proposal
The subject of loss and damage has for the first time been included on the official COP agenda. But developed and developing nations are split over whether a new mechanism is needed or whether existing financial institutions can deliver the cash needed. The G77 bloc...
BOC Aviation takes insurers to court over claim for jets in Russia
The insurers named in the proceedings, which the filing shows were issued on Nov.3, include Lloyd’s of London Ltd., AIG Inc., Chubb Ltd. and Swiss Re AG. Leasing firms have begun pursuing claims over huge losses since losing control of more than 400 leased planes...
India submits long-term strategy to achieve net-zero target by 2070
Bhupender Yadav,Union Environment Minister India's approach to low-carbon development is based on four key considerations -- low historic contribution to global warming, energy needs for development, commitment to low-carbon growth according to national circumstances...
Rich nations stick to coal phase-out as China builds new plants
“Accelerated retirements (of coal plants) within the OECD and the collapse in the scale of new project proposals in the rest of the world have been counteracted by the ongoing expansion of the coal fleet in China,” said the PPCA, an international campaign aimed at...
Australia to consider banning paying of ransoms to cyber criminals
Asked on ABC television on Sunday whether the government planned to look at outlawing ransom payments to cyber criminals, Australia's Home Affairs Minister Clare O'Neil said "that's correct". "We will do that in the context of … cyber strategy," she said Sydney:...
Insurance contracts have very little option for consumers except to sign on dotted lines: SC
“Such contracts demand a very high degree of prudence, good faith, disclosure and notice on the part of the insurer, being different facets of the doctrine of fairness. Though, a contract of insurance is a voluntary act on the part of the consumer, the obvious...
Lloyd’s picks England for World Cup glory, team’s estimated insurable value at £3.17bn
Research published with the support of the Centre for Economics and Business Research (Cebr) ranks the teams based on the collective insurable value of their players. The assessment of each insurable value comprises a variety of metrics such as wages, sponsorships,...
Irdai proposes allowing insurers to invest in unlisted companies
IRDAI has sent a proposal to the government to allow buying a more than 10% stake in unlisted firms by insurers, using over 10% of the monies lying in their shareholders fund, policyholders fund, or funds maintained by a reinsurance company, according to the two...