"We have hired Mike Andrews. We expect the raw details of...
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African lender weighs claiming Lloyd’s payout on Zambia debt
TDB — together with the African Export Import Bank — has found...
Swiss Re tackles longevity drug impact with life policy advice
Metformin, traditionally used to manage type 2 diabetes, and...
Russian coal exports face European insurance ban
While Russian coal miners started re-directing volumes to Asia long before the ban came into force, the shipowners typically reinsure their risks with bigger providers that can no longer cover such exports. The companies are looking at other options, but those will be...
Indian Ocean coastline off Somalia declassified as a “high-risk area”
The change was approved by marine groups including the International Chamber of Shipping and will be operational from January next year, they said in an emailed statement on Monday “No piracy attacks against merchant ships have occurred off Somalia since 2018,”...
General insurers can pay commissions to intermediaries upto 20% of their gross premium: IRDAI
After setting stiff premium targets for the insurers, the IRDAI in its ``Exposure draft- Insurance Regulatory and Development Authority of India (Payment of Commission or Remuneration or Reward to Insurance Agents and Insurance Intermediaries) Regulations, 2022'' has...
Jury asks Ford Motor to pay $1.7 billion over an accident killing a Georgia couple
In Georgia, 75% of proceeds from punitive damage verdicts go to the state. The rest is split between the plaintiffs and the lawyers. Ford Motor Co. was told by a jury to pay more than $1.7 billion over a 2014 rollover accident that killed a Georgia couple, a lawyer...
Japanese chemical tanker ship crashes into a cargo ship off the coast of southwestern Japan
No one was injured among the six Japanese crew members aboard the tanker Ryoshinmaru and 14 Chinese crew members aboard the Belize-registered cargo ship Xin Hai 99 A Japanese chemical tanker ship crashed into a cargo ship off the coast of southwestern Japan, the coast...
IRDAI forms Mamta Suri panel on implementation of Ind AS/ IFRS in insurance sector
Among other things, the panel will recommend steps as may be taken towards effective implementation of Ind AS/IFRS along with phase-wise timelines, recommendations on key interpretations (best practices) while implementing, Ind AS/IFRSc,recommendation on proforma...
Floods, landslides kill dozens as monsoon rains lash northern, eastern India
Heavy showers followed by landslides and flooding in the Himalayan state of Himachal Pradesh over the past three days killed at least 36 people, a state government official told Reuters. In the neighbouring mountainous state of Uttarakhand, an official government...
WTW appoints Sean Deehan as Leader of Hong Kong and Macau
Sean Deehan,Leader,Hong Kong and Macau, WTW Clare Muhiudeen, Head of Asia, WTW, said: “Hong Kong remains a major international financial centre in Asia, a gateway to and from Mainland China and a key market in our Greater Bay Area growth plans HONG KONG: WTW today...
Insured assets worth Rs 150 crore affected in fire at Neemrana unit: Havells
There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at...
PSU general insurers plan major organisational revamping
The new structure will follow-Operating Offices/Claims Hubs/Regional and Head Offices and scraped the older four tier structure - Branch/Divisional/Regional/Head Offices. And, over a period of time, the regional offices may also vanish Chennai: The four Central...