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Lloyd’s highlights risk of extreme space weather as latest scenario reveals potential global economic loss of $2.4trn
North America is identified as the region likely to be most...
P/C insurers to weather volatile natural Catastrophe Risks
The industry has ample capability to absorb individual large loss...
Swiss Re secures secures $1.15bn alternative capital via an innovative hybrid transaction
The transaction, which covers underwriting risks across the entire Swiss Re Group, is the first of its kind to combine both bank financing and insurance-linked securities Zurich: Swiss Re has successfully closed an innovative multi-year stop-loss transaction, with...
Munich Re Life US to acquire a health information exchange
In line with Munich Re’s digital strategy and commitment to helping our life insurer clients grow their business intelligently, Munich Re’s acquisition of Clareto will enable Munich Re to structure EHRs for optimal use in life insurance underwriting. NEW YORK: Munich...
Haryana launches portal to redress grievances related to crop insurance
Haryana Agriculture Minister J P Dalal said,the Pradhan Mantri Fasal Bima Yojana has been implemented in the state since 2016.Under this scheme, barley, maize, cotton, paddy and bajra are insured in Kharif season and wheat, gram, mustard and sunflower crops in Rabi...
UNDP and Generali partner to develop insurance and risk finance solutions
"On average, the world's poorest countries lose $29 billion every year from disasters yet a meagre 3% of these losses are covered by insurance," says UNDP Administrator, Achim Steiner "This new partnership with Generali will allow UNDP to extend much-needed insurance...
IRDAI to hold `Open House’ with various industry players on 15th of every month
Debasish Panda, chairman,IRDAI ``All the regulated entities are requested to make use of this initiative to interact with the chairperson, whole-time members and senior officials of IRDAI and offer pragmatic solutions to reduce significant insurance penetration gap in...
25 people dead as typhoon triggered landslides
Nearly 140,000 people have been affected by the storm locally known as Agaton, which made landfall over Eastern Samar province on April 10, the nation’s disaster risk-reduction and management council said. Megi is this year’s first tropical storm to hit the...
DHL run Boeing jet breaks in two after skidding off runway
The jet spun about 180 degrees and its tail went down an embankment. Photos showed the tail section snapped off from the main fuselage A Boeing Co. 757 cargo jet operated by DHL broke in two after skidding off the runway at Juan Santamaria International airport in...
General Insurance industry’s prms rise 11 % to Rs 2.20 trillion in FY 2021-22, Health topples Motor as the largest portfolio
Thanks to Covid-19 Pandemic and stagnant motor third party premium for the last two years, for the first time in the history of Indian general insurance industry, in FY 2021-22, Health portfolio has replaced Motor business as the largest segment in the industry Though...
Munich Re partners with OneDegree to launch digital asset insurance in Hong Kong
OneInfinity is an insurance and technology product offering designed specifically for digital asset trading platforms, custodians, asset managers and technology providers Under this partnership, Munich Re will provide reinsurance capacity and support OneDegree's...
Willis India receives IRDAI nod for full ownership, appoints Vivek Nath as head of India ops
Vivek Nath, CEO, WTW India SINGAPORE: WTW (Willis Towers Watson), the third largest global re/insurance broker, today has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) and has closed the transaction on the acquisition of...