Reinsurers covered just over 10% of total insured catastrophe...
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Trump’s threat to blockade the Strait of Hormuz risks widening war to High Seas
The developments threatened to prolong and widen a war that has led...
Shipowners rushing for insurance cover to transit Strait of Hormuz
The Strait of Hormuz remained largely blocked as shipowners try to...
Govt appoints Hitesh Joshi as acting CMD of GIC Re
Hitesh Joshi, acting CMD, GIC Re ``The competent authority has approved the entrustment of the financial and administrative powers and functions of the Chairman-cum-Managing Director (CMD), General Insurance Corporation of India (GIC-Re) to Hitesh Ramesh Chandra...
India’s Cloudburst Challenges:Insurance gaps & Future safeguards
The entire Himalayan belt is increasingly vulnerable to cloudbursts, flash floods, landslides, and potential glacial lake outburst floods (GLOFs), all driven by changing monsoon patterns and accelerated warming in the region. These risks are not onlybecoming more...
UK sanctions Russia’s Lukoil and Rosneft, targets shadow fleet
"We are introducing targeted sanctions against the two biggest oil companies in Russia, Lukoil and Rosneft. At the same time, we are ramping up pressure on companies in third countries, including India and China, that continue to facilitate getting Russia oil onto...
Cybercrime causing global economic damage of almost US$10 tn,1% of cyber risks currently insured: Munich Re
Claudia Strametz, who leads Munich Re's business for Germany and who is responsible for cyber business in Europe said, “Over the past 10 to 15 years, cyber insurance has experienced remarkable growth, evolving from a virtually non-existent product to a global market...
Soteria Surveyors & Loss Adjusters enters associate agreement with Charles Taylor Marine Technical Services in Qatar and India
The associateship will ensure a rapid, consistent and expert response to claims and surveys in Qatar and India. Charles Taylor Marine Technical Services and Soteria will coordinate closely to mobilise teams for casualty investigations, hull and machinery surveys,...
Insurance Development Forum raises $340 million for Infrastructure Resilience Development Fund
This debt fund will invest in small to medium-sized commercial infrastructure projects in emerging markets and developing economies (EMDEs). It will target a diversified portfolio of resilient infrastructure, including clean water and water management, waste...
Ritu Arora appointed as Allianz Group’s Country Head of India
Ritu Arora, Country Head of India, Allianz In July 2025, Allianz announced that it had entered into a binding agreement with Jio Financial Services Limited (JFSL) to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth reinsurance...
Munich Re and New India provide first ever large parametric Pandemic Resilience cover to Mumbai’s biggest mall Phoenix Mills
``Munich Re is supporting these solutions with reinsurance capacity, however due to nature of pandemic risks no insurance balance sheet, not even one as strong as Munich Re’s, can absorb the potential losses alone. To make the consequences of a pandemic/epidemic...
GIC Re’s Credit Ratings affirmed as “A-” (Excellent) by AM Best
General Insurance Corporation of India (GIC Re), a leading global reinsurer, has received an affirmation of its Financial Strength Rating (FSR) and Long-Term Issuer Credit Rating (ICR) from AM Best, a globally recognized credit rating agency. AM Best has affirmed GIC...
Susan Panuccio to join Howden as Group Chief Financial Officer
Susan Panuccio, Group Chief Financial Officer-designate, Howden Susan will join Howden after more than two decades with News Corp, having spent the last eight years as Chief Financial Officer and as a core part of the leadership team that...