The appointments reflect Canopius' ambition to continue building...
Category:
Reinsurance
Latest
IRDAI’s Distribution Reforms: Commission on general insurance products proposed to be slashed from 30% to 20%, to 12.5% for life over 5 yrs
Greater transparency would be required from insurers and large...
Hydropower Risks: Mapping interdependencies and building resilience
From an insurance perspective, events such as recent floods in...
AI Data centers are on track to fuel ‘Explosive’ growth in Captive Insurance
AM Best, an insurance-focused credit rating firm, says the roughly 150 US captives it rates generated more than $8 billion in savings over the past five years. The ability to turn insurance from “a pure cost center into a potential profit center” is the corporate...
BRICS moves to build reinsurance allince, places climate and disaster resilience high on agenda
Hitesh Joshi,CMD, GIC Re Russian President Putin proposed a new insurance mechanism and a collaborative grain market initiative for BRICS nations. Iranian President Masoud Pezeshkian, called for the creation of a BRICS reinsurance company with initial capital of $10...
Iran, Oman agree on new entry, exit routes for Strait of Hormuz: Report
The development comes amid heightened tensions in West Asia, with the strategic waterway remaining a key focus of regional and international attention.The Iranian and Omani sides reached an understanding on the new routes following consultations, with details set to...
Saudi shuts key oil pipeline as Houthis control Red Sea coast
The 1,200-kilometre (745-mile) pipeline running across the Arabian Peninsula had helped Saudi Arabia to bypass a shipping logjam in the Strait of Hormuz, where tanker traffic has slowed to a trickle due to the war between the US and Iran. Saudi Arabia has shut down...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled to implement Ind AS from FY 2027-28 are being closely monitored by IRDAI as per their board approved monthly implementation milestones. The IRDAI is engaging with insurers on an ongoing basis, with any...
Atlantic Hurricane season remains most Tranquil since 1941
The tranquil Atlantic is good news for the millions of people who live along the US East and Gulf coasts, or on Caribbean islands. It also means fewer disruptions for the oil and gas export terminals that line the Gulf of Mexico. September is usually the month when...
Data Centres: Global investment boom could create USD200 billion commercial insurance opportunity amid rising accumulation risks, says Swiss Re
Gianfranco Lot, Swiss Re's Chief Underwriting Officer P&C Re, says: "We are seeing the digital economy become a real economy. AI needs data centres, power grids and increasingly complex infrastructure – and all of it needs insurance. That creates growth...
Nepal floods could cost insurers over $130 million even before death, injury claims
Eleven Nepali hydropower projects lie in the affected region, some covered by standard commercial insurance policies that are still being assessed, said Toton Chakraborty, CEO of Oriental Insurance Company Nepal. MUMBAI:The devastating flood in Nepal last week could...
AI Phuket flight incident: AAIB preliminary report reveals hydraulic failure, Pilot’s positive drug screening
"In view of a non-negative result for psychoactive substances for one of the flight crew, it is recommended that DGCA may take appropriate actions as deemed fit to prevent abuse of psychoactive substances," AAIB said in its interim safety recommendation. New Delhi:...
Laurent Rousseau appointed as Head of International, Marsh Re
Laurent Rousseau as Head of International, Marsh Re said,“Today’s risk environment demands both deep local expertise and a truly global perspective. I look forward to working with our international teams to build on our strong foundation and bring the tailored...