Iran has started charging transit fees on some commercial vessels...
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Soft Market:Air India renews its $20 billion cover with just 10% hike despite $475 million claims from Ahemedabad crash
London market sources said AI's premium has just risen by around 10...
Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said:...
AIG to pay Neal $2.7 million to compensate for “foregone incentives”
John Neal, forner CEO, Lloyd's AIG withdrew its employment offer to Neal, who had been set to join the company as president in December, after learning that the executive was being investigated at his former employer, Lloyd’s of London, the Wall Street Journal...
Russian oil cargo discharge at Indian port delayed due to insurance scrutiny, sources say
Since April, India has required online verification of insurance for ships covered by companies that are not members of the International Group (IG) to ensure that forged documents are not provided to Indian port authorities for berthing NEW DELHI: A...
Africa Specialty Risks launches Syndicate 2454 in South Africa
Commenting on the launch of Syndicate 2454 in South Africa, Mikir Shah, chief executive officer, ASR said: “South Africa has always been and remains a key market for us, and this launch allows us to write risks directly in the market, ensuring we’re close to our...
Heavy rainfall unleashes deadly floods across Southeast Asia
Total number of confirmed dead in Vietnam is now 91.Flooding in southern Thailand has killed at least 13 people and swamped around 800,000 households and rubber- and palm oil-producing areas. In Peninsular Malaysia, more than 16,000 people have been displaced, while...
Blackstone owned Ace Insurance Brokers make 3 sr level appointments
Blackstone owned Ace Insurance Brokers has made three senior level appointments. The company has appointed Arvind Laddha from Mercer as president. Puneet Kumar, former CFO at Insurance Dekho has joined the company as CFO.Puneet Khurana,previously group head of HR at...
95 pc families of AI 171 crash received interim compensation, says Air India CEO
About 70 of the families have also received the ex gratia payment from the AI 171 memorial trust, with another 50 or so in the process of being dispersed, and we continue to reach out to the families of those affected, both as Air India and as Tata Sons, to offer the...
Tankers rate hit new high amid US sanctions
Figures from analytics firm Kpler suggest that close to 48 million barrels of Rosneft and Lukoil crude — mostly Urals and ESPO grades — are currently in transit or beginning to load. That includes roughly 50 tankers pointing toward China and India, but also others...
IRDAI chairman Seth meets Indian reinsurers
Ajay Seth, chairman,IRDAI ``It was an introductory meeting and had no specific agenda. Seth wanted to know the state of affair in the Indian reinsurance industry,’’ said one of the CEOs who had attended the meeting Mumbai: After meeting life and non-life insurers...
Former Lloyd’s CEO loses top AIG’s $17 million job over office romance
John Neal, former CEO, Lloyd's Recent instances have felled CEOs at companies including Nestlé SA, Kohl’s Corp. and Astronomer, where Andy Byron lost the top job in July after being caught on a stadium “kiss cam” with the firm’s chief people officer at a Coldplay...
Lloyd’s investigates its former CEO John Neal
John Neal,former chief executive officer,Lloyd's Lloyd’s Chairman Charles Roxburgh “became aware of market speculation concerning possible historic breaches of policy” and initiated an independent fact-finding review into Neal’s conduct in October, the firm said in a...