Tokio Marine GX (TMGX) will offer up to $500 million on any single...
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General re/insurers to spend Rs 400 cr over next 3-4 yrs in nationwide awareness campaign, Life insurers to follow soon
From L to R-Tapan Singhel, MD&CEO, Bajaj General Insurance,...
Boeing’s agreement with US Justice Department to avoid criminal charges for 2 fatal crashes of its 737 Max jets
The tentative agreement would allow require Boeing to contribute...
Ships get older and slower as emissions rules bite
Supply chains are already strained due to a surge in demand as economies rebound from lockdowns, pandemic disruptions at ports and a lack of new ships. If older vessels move into the slow lane as well, shipping capacity could take another hit at a time when record...
IRDA constitutes 2 panels to sort out reinsurance issues in life and non-life insurance industry
Non-life panel headed by Bhargav Dasgupta, MD and CEO, ICICI Lombard General Insurance, to deliberate on issues like Obligatory Cession, Cession cap on cross boarder reinsurers, introduction of emerging risk transfer solutions (ART, ILS, CAT bonds etc.), and...
IRDAI considers 12 new insurance players for licenses
Debasish Panda, chairman, IRDAI The entities who have applied for the new licenses are Paytm General Insurance, Anzen General Insurance ( R1 filed in July), Ria General Insurance( R1 applied), Kshema General Insurance(Agriculture Insurance, R2 under process),Cosmea...
Flooding affects 7.2mn people in Bangladesh: UN
According to the statement, the Bangladeshi government has evacuated over 472,000 people to some 1,605 shelters Dhaka: An estimated 7.2 million people have been severely affected in Bangladesh following devastating flash floods which began in May with a second wave...
Australian flood: Insurers receive 8,415 claims for almost $100 million
There are 84 per cent property, 14 per cent motor and two per cent commercial claims Sydney: The Australian insurers have received 8,415 claims with an estimated insurance loss of $97.9 million, said the Insurance Council of Australia (ICA) which earlier this week...
Wage Revision: PSU general insurance employees unions call for strike on July 11
The Joint Forum of unions and associations of employees and officers in public sector general insurance companies have called the one-day strike for their demands including wage revision pending from August 1, 2017, increase in NPS contribution by 14 percent,...
Markel International expands renewable energy team with 2 key offshore wind appointments
These appointments are the latest in the build-out of a highly skilled and reputable team, equipped to provide a market-leading offering to its clients in the global renewable energy market London: Markel International, a subsidiary of Markel Corporation, has...
Miller acquires of Japanese broker Lead Insurance Services
Founded in 1994, Lead specializes in Hull, War Risks and Protection & Indemnity insurance, offering a highly complementary service to Miller’s current marine capabilities. Lead has a strong client base and has been working alongside Miller for a quarter of a...
8 mid-air incidents in 18 days: DGCA issues show-cause notice to SpiceJet
As a DGCA review of the incidents showed that ''poor'' internal safety oversight and ''inadequate'' maintenance actions have resulted in ''degradation'' of the safety margins of SpiceJet, the airline's chief Ajay Singh asserted it will be ''doubly careful'' and...
General insurance industry’s premium rise by 23% to Rs 54,492 crore in Q1Fy 20222-23
The four PSU multiline general insurers -New India Assurance, Oriental Insurance Company, United India Insurance, National Insurance Company- have further lost around four per cent of their market share to private sector competitors in Apr-June period. Mumbai:...