As well as extending approvals for some sanctioned providers,...
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Yemen’s Houthis to target only Israel-linked vessels following Gaza deal
Higher war risk insurance premiums, paid when vessels sail through...
New research by the Geneva Association analyses the effects of ‘slowbalisation’ on the insurance industry
Jad Ariss, Managing Director of the Geneva Association, said: “The...
Charles Taylor announces new associate in India
Stephen Hope, Charles Taylor Adjusting’s Director – International Onshore Energy & Mining explains: “The Indian insurance industry has seen significant growth in recent years, and it is an exciting time for Charles Taylor to become a part of this market. Our...
AM Best maintains negative outlook on Brazil reinsurance market
“Overall, the segment’s growth is likely to face headwinds due to capacity limitations to underwrite risks, as the financial flexibility provided by the local capital markets dries up, and to global risk aversion, as international investors and players reconsider...
GIC Re’s net falls 150 % to Rs 210 cr on higher claims in Apr-Dec period
GIC Re, as part of restructuring its global business to be more profitable by pruning loss making business, has reduced its gross premium income by 13 per cent to Rs 32,904.65 crore in the first nine months Fy2021-22 The reinsurer's combined ratio(CR) was higher at...
Global executives lack confidence on their own organisations’ approach to Reputational and ESG ‘risk readiness”:WTW Survey
Simon Weaver, Head of Corporate Risk & Broking, Asia and Australasia, and Head of Australasia, Willis Tower Watson said, “In an increasingly digital, service-oriented economy, reputational risk is firmly on the corporate agenda. However, our findings also suggest...
Surety Bond: To Be On a Sure Footing
Rrajesh Sharrma, CEO and Principal Officer, Anand Rathi Insurance Brokers Considering the size of the Indian economy, the market demand for surety insurance will be so huge, it can be another game-changer like agricultural insurance after the introduction of Pradhan...
Tokio Marine invests & collaborates with satellite imaging specialist ICEYE
The Tokio Marine Group has been utilizing technology to make prompt insurance payments in order to provide customers with a sense of safety and security as quickly as possible. In the event of large-scale flooding, satellite data and AI can be used to determine the...
Sanjay Malhotra appointed as DFS Secy
Malhotra's s appointment as the Financial Services Secretary has taken effect immediately as the post is vacant after Debasis Panda,retired from the post on 31st Jan. The government had given Rajesh Verma, secretary, ministry of corporate affairs the additional charge...
Australia finalises $10 billion cyclone Reinsurance Pool
The pool is expected to reduce insurance premiums by up to $2.9 billion for eligible household, strata and small business insurance policies over 10 years Homeowners in northern Australia with the most acute cost pressures are expected to benefit from up to 46 per...
Global Nat Cat insured losses at $116 billion in 2021, more than 60% higher than average: Gallagher Re
By region, North America accounted for the largest proportion of the loss at 68%, followed by Europe, Middle East & Africa at 23%, Asia Pacific at 8% and Latin America and the Caribbean at 1%. By peril, tropical cyclones were the most impactful, responsible for...
Ukraine in focus for Olympics insurers as Beijing Games kick off
If there is war between Russia and Ukraine, teams and broadcasters could also suffer war-related losses themselves, as war involving the five so-called "superpowers" of the United States, Britain, France, China and Russia is often excluded from cancellation policies,...