Insurers were able to achieve significant decreases in pricing and...
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Jan1 Renewals:Most areas of market record price decreases, Conditions expected to persist into 2026, says Howden
This backdrop brings opportunities across the value chain. Buyers...
GIC Re set to expand its global business in Jan1 renewals
Globally reinsurance buyers enter the January renewal season with...
Willis and Global Parametrics deliver new parametric solution to coffee farmers in Vietnam
If the rainfall dips below predefined values, the insurance is triggered and the farmers receive timely payouts without the need for lengthy claims processes or on-the-ground assessments Singapore: Willis, a WTW business, and Global Parametrics today announced the...
IFSCA cancels license of Prowess Insurance Brokers
GIFT City based the IFSCA has cancelled the license granted to Prowess Insurance Brokers Pvt. Ltd. (PIBPL), to operate a Branch office in GIFT IFSC as IFSC Insurance Intermediary Office (IIIO). The action is taken in light of non-compliance with directions...
Convex enters Lloyd’s with Syndicate 1984
Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025 London: Convex Group Limited (“Convex”), the international specialty insurer and...
Govt says Russian oil suppliers must provide sanctions-compliant cargoes
Indian refining officials said they have told Russian oil suppliers and traders that the oil they sell should comply with parameters of the U.S. sanctions. "We don't want to take risk. We are not going to touch any cargo that involves sanctioned entity or ships in the...
GIC Re makes a $25 million claim provisioning for LA wildfires, expands global biz 15% in Jan1 renewals
`We have a small exposure for LA wildfires. It's not major. Currently, we have provided about $25 million in our provisions. I tend to believe that this will come down, because these are very initial figures. We've still not received too many intimations from our...
China asks insurers to hold sufficient capital and liquidity
Companies should establish a concentration risk information disclosure mechanism and disclose annual concentration risk management information on their websites before June 15 each year, the regulator said China’s National Financial Regulatory Administration on...
Govt is building a sanctions-proof supply chain for Russian oil, says Petroleum Secy
“Imports need ships which are not sanctioned, insurance which takes time to reconfigure, and imports will need payments to go through. So each one of these has problems that need to be solved. People are working on solving these problems,” Oil Secretary Pankaj Jain...
India sixth-most severely-affected country by extreme weather from 1993 to 2022: Report
India experienced more than 400 extreme weather events in the three decades, causing losses of nearly "USD 180 billion and at least 80,000 fatalities", the report said. New Delhi: India ranked as the sixth-most severely-affected country by extreme weather events in...
Oil executives call for cautious return to Red Sea navigation
“Everyone is watching each other to see who goes first,” Barbara Harrison, vice president of crude supply and trading at U.S. major Chevron, said at an oil conference in Houston. Oil executives called on for a return to navigation through the Red Sea en route to the...
MS Amlin launches new credit and political risk offering in MENA, eyes India and Africa opportunities
“We see exciting opportunities in India, and on the African continent, which are both experiencing a significant influx of foreign investment. We believe this will create growing demand across a number of speciality lines, most notably credit and political risk.”...