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Iran sets Hormuz transit rules; Shipowners stay cautious
Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe,...
MS Amlin launches industry-first property treaty consortium, to boost capacity for global data centres
The Property Treaty Per Risk (PPR) Consortium,bringing together...
2.51 lakh UP farmers receive Rs 285 crore compensation: Adityanath
Yogi Adityanath, Chief Minister,Uttar Pradesh Addressing a programme for the distribution of assistance under the Pradhan Mantri Fasal Bima Yojana and the Mukhyamantri Krishak Durghatna Kalyan Yojana, the chief minister said that farmers who insure their crops are...
Swiss Re to acquire QBE’s Global Trade Credit and Surety business
Ivan Gonzalez, CEO of Swiss Re Corporate Solutions, said: "This acquisition marks an important milestone for Swiss Re Corporate Solutions. It allows us to expand our offering in this attractive segment by strengthening our global credit and surety platform with a...
South African re/insurer Santam launches its India operations, targets Rs100 cr premium in 2 yrs
Lto R- Gedion Labane, Consul General of South Africa in Mumbai, Charlise Cloete,Cluster, Market Head Reinsurance: Asia Pacific, Santam,Curt Mayer, Executive Head, Santam Specialist. Gareth Beaver, CEO, Santam Specialist Solutions, and Kush Padia, CEO, Santam Re &...
Govt yet to take a finall call on stopping import of Russian oil
India’s Directorate General of Shipping has until Friday to extend the approvals of four Russian insurers, its website shows. Four other Russian ones don’t need to renew their approvals until 2029 and 2030. The Indian government must decide in the next few days...
New GIC Re CMD to be selected by FSIB on Feb 24
A few names including Ashok Lahoty,appointed actuary of state owned National Insurance Company along with three senior most officials of GIC Re,Hitesh Joshi, executive director and acting CMD,Jayshree Bala,ED GIC Re and V Balkrishna, general manager along with others...
Aon sets up a new office in Mumbai
Rishi Mehra, CEO, India and Head of Strategy, Human Capital, Asia Pacific, Aon Global re/insurance broker Aon plc announced that it is combining its three existing Mumbai offices into a single, modern corporate location at One Unity Centre in Lower Parel, Mumbai. The...
Aon appoints Nick Fraccalvieri as CEO of global facultative for its Reinsurance Solutions
In his new role, Fraccalvieri will be responsible for setting the strategic direction and driving the execution of Aon’s global facultative reinsurance strategy, with ceded facultative at the core of the proposition. He will also lead the development of new digital...
Bayer proposes $7.25 billion plan for all Roundup cancer cases
The plaintiffs say they developed non-Hodgkin lymphoma and other forms of cancer due to using the weedkiller, either at home or on the job. Bayer said on Tuesday its Monsanto unit had filed a proposed U.S. class settlement totaling as much as $7.25 billion aimed at...
Rising civil unrest pushes up SRCC(strikes, riots and civil commotion) claims globally
Claims tied to SRCC — strikes, riots and civil commotion — are emerging as a growing headache for insurers as episodes of unrest increasingly lead to the destruction of property in Western democracies.Howden Re estimates that insured losses related to SRCC soared from...
Spain’s Map Re receives approval for its branch office in India’s GIFT City
“The authorization to operate in India means we’ll be even closer to our clients and that we’ll also be able to leverage our technical knowledge and underwriting capacity in a market with high development potential,” stated Miguel Rosa, CEO of Mapfre Re Mumbai/GIFT...