Adam Sullivan,CEO,Specialty,Asia SINGAPORE: Gallagher today...
Category:
Reinsurance
Latest
IRDAI’s mandatory online Reinsurance Exchange begins on Apr1, to include brokers, offline payment
This innovative system, with a view to transforming India’s...
Soft Market: Munich Re plans relocation of jobs to India Poland
In early January, it became known that the world's second-largest...
Maritime Safety: New risks and challenges for Shipping Industry
“Although recent sanctions are making it harder for these vessels to trade, the shadow fleet continues to pose a serious risk to maritime safety and the environment, as many are likely to be older vessels that are poorly maintained and inadequately insured. In case of...
GIC Re’s net profit falls 17 % to Rs 2,183 cr, gross premium rises 20 % to Rs 10,367 cr in Q4FY25
GIC Re board, which met on Monday to finalise its results, has declared a record dividend of Rs 10 per share(or 200 per cent) with a face value of Rs 5 Mumbai: With higher underwriting losses and combined ratio , state owned GIC Re’s net profit has fallen by 17...
6 general insurers hit with over Rs 2k crore losses as fire destroys Nashik manufacturing plant of Jindal Poly Films
The insurers, who have provided the cover for the plant are- National Insurance Company(38 per cent), Reliance General Insurance(23 per cent), Oriental Insurance Company (12 per cent), Iffco Tokio General Insurance(12 per cent), United India Insurance(10 per cent) and...
Trade disruption and economic shocks push up political risk cover by 30% globally, says Howden report
Matthew Strong, Deputy CEO, Howden CAP and Head of Credit and Political Risk, commented: “ With demand for CPRI protection rising, now is the time for the market to step up even further. This will enhance global economic growth by increasing commitments and...
Russia to defend its vessels in the Baltic Sea by all legal means
The comments come as Baltic nations grow increasingly concerned about the activity of vessels that haul Russian barrels overseas, a key revenue source for the government in Moscow. They’re worried these ships could cause security breaches, damage power and internet...
Aircraft lessor SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
That brought SMBC’s total recoveries from claims following the sanctions over Moscow’s war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements Dublin: Aircraft lessor...
Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost savings and insurance payouts, it said Wednesday. Online clothing and home orders, which account for more than £3 million of sales a day and have been suspended for more than three weeks, will be disrupted...
EU likely to propose to G7 lowering price cap on Russian oil to $50 per barrel
The G7 price cap was agreed in December 2022, banning trade in Russian crude oil transported by tankers if the price paid was above $60 per barrel and prohibiting shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe,...
GIC Re officers’ association urges Sitharaman to delink reinsurer from GIPSA
``GIC Re’s lean organisational structure with fewer than 500 employees, compared to the thousands employed by public sector general insurance companies (PSGICs), makes uniformity under GIPSA operationally infeasible and strategically flawed,'' the GIC Re officers'...
Swiss Re profit rose 18 % to $1.3 billion in Q1 despite California wildfires
The result “gives us confidence in our 2025 targets despite a challenging environment,” Chief Executive Officer Andreas Bergersaid in a statement on Friday Swiss Re AG’s profit rose in the first quarter as losses from the California wildfires were offset by positive...