The 17-year-old Bell 407 helicopter operated by Aerotrans Services...
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Allianz and Reliance Group’s Jio Finance float three 50-50 JVs for life,non-life and reinsurance business in India
Jio Financial Services Limited (JFSL) and Allianz Group (Allianz),...
EU imposes sanctions on Rosneft’s India refinery, lowers oil price cap
"For the first time, we're designating a flag registry and the...
Munich Re’s raises $ 1.25 bn of green bond from US market
The bond has a coupon of 5.875% and matures in 2042 Christoph Jurecka,CFO, Munich Re said,`` In structuring this bond as a green bond, we are the first European insurer to break such new ground in this market segment. At the same time, the green bond supports the...
Russian oil’s Achilles’ heel: insurance
Insurers from Europe and the United States, which dominate the international marine market, are curtailing coverage for Russian oil tankers, industry sources say, to avoid breaching sanctions imposed in the wake of Moscow's invasion of Ukraine. Even non-Russian...
SpiceJet faces ransomware attack, many flights impacted
"Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation and flights are operating normally now," the SpiceJet tweeted after getting...
Ransomware attacks rise 13% in past year, India Inc at great risk
“Roughly 4 in 5 breaches can be attributed to organised crime, with external actors approximately 4 times more likely to cause breaches in an organization than internal actors,” the findings showed New Delhi: There has been an alarming rise in ransomware breaches...
WTW launches specialist cyber coverage for ports and terminals
CyNav for Ports and Terminals is designed to address the specific cyber threats faced by port and terminal owners and operators. It provides both flexible and tailored cover for business interruption losses including those arising from IT service providers, first- and...
IUMI Asia Forum 2022 in Mumbai
Hosted by General Insurance Council, International Union of Marine Insurance(IUMI) to hold its Asia Forum 2022 in Mumbai during June 1-2, indeed a proud moment for the Indian insurance industry R Balasundaram As we take off our masks and say ‘Good riddance’ to...
Date to head IRDAI’s Reinsurance Advisory Committee
The IRDAI has reconstituted its Reinsurance Advisory Committee (RAC) under the chairmanship of former managing director, Swiss Re, India Dhananjay Date. The other members are R. Chandrasekaran,former Head of Reinsurance, Cholamandalam MS General, G. Srinivasan,...
GIC Re overhauls its business portfolios for profitability , appoints KPMG to modernise HR
Devesh Srivastava,CMD, GIC Re GIC Re, one of top 15 global reinsurers and third largest Asian Reinsurer, is currently undertaking major restructuring of its business portfolios to provide major focus on topline growth, said Devesh Srivastava,CMD, GIC Re KPMG will act...
Govt orders probe after 3 incidents of in-flight engine shutdowns
India has seen a number of mid-flight shutdowns, and regulators have responded strongly in the past, once ordering IndiGo, the nation’s biggest airline, to ground some of its A320neo planes after engines manufactured by Pratt & Whitney experienced repeated...
SCOR to stop covering new oil field production projects from 2023
To double the coverage for low carbon energies by 2025 SCOR has a longstanding commitment to fighting climate change, undertaking numerous actions to help reduce greenhouse gas emissions and facilitate the just transition to a low carbon economy Paris: During the...