The two parametric products — for extreme rainfall and drought-risk...
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FSIB selects Hitesh Joshi as new CMD of GIC Re
Hitesh Joshi,executive director & acting CMD, GIC Re ``Keeping...
Issue of shortage of actuaries in industry needs to be addressed urgently:IRDAI Chairman
``The United States has more than 40 fellow actuaries per million...
Willis appoints Aon’s Anant Pawar as Aviation & Space Leader for India
Anant Pawar, Aviation & Space Leader, Willis,India Willis handles Indigo's re/insurance accounts. It is the largest airline in India by passengers carried and fleet size, with a 63.6 per cent domestic market share Mumbai: Willis, a business of WTW has appointed...
Swiss Re appoints Bernhard Kaufmann Group CRO as Patrick Raaflaub retires
Prior to this role, Bernhard Kaufmann was Chief Risk Officer at NN Group and held various senior leadership roles at Munich Re Group, most recently as Group Chief Risk Officer Zurich: Bernhard Kaufmann has held Chief Risk Officer positions in the re/insurance industry...
Ratings: Crisil affirms New India, downgrades National Insurance and United India
NIA's rating is driven by the company’s leadership position in the Indian general insurance industry, its sound investment portfolio, healthy capitalisation and solvency position, and the strategic importance to and support derived from the parent, the Government of...
Lloyd’s broker UIB charged by UK over alleged Ecuador bribes
UIB sold reinsurance services to state-backed insurers covering parts of the Ecuadorian public sector, including the state water and electricity companies between 2013 and 2016, the SFO said. The broker is accused of £3 million to intermediaries who then bribed an...
Manoj Ayyappan, JS, DFS, appointed as govt’s nominee director in GIC Re
The Ministry of Finance has nominated Manoj Muttathil Ayyappan, joint secretary, Department of Financial Services as a director on the Board of GIC Re with effect from 17 April in place of M. P. Tangirala, former additional secretary, DFS. Ayyappan had joined the DFS...
Govt plans to ease nuclear liability laws to attract foreign firms, sources say
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents. The draft law also proposes a lower liability cap on small reactor operators at...
US cyber insurance premium shrinking to continue: Fitch
The cyber insurance line was profitable for 2024, but direct written premiums fell for the second straight year due to declining rates and fewer policies in force U.S. cyber insurance renewal premium rates have fallen YoY for the last three quarters and are...
AI makes weather forecasting more cost effective and accurate
This is the first time Taiping Reinsurance is bringing high-resolution flood modeling in-house, instead of relying on coarser models developed by US risk analytics companies, said Sheldon Yu, chief executive officer at the Hong Kong-based reinsurer The weather...
Bagic’s T A Ramalingam takes over as first CEO of Prem Watsa’s Value Attics Reinsurance
T A Ramalingam, CEO, Value Attics Reinsurance Ramalingam, who completed his stint with BAGIC, after serving the insurer for over 20 years, in March end, has taken over his new assignment on Thursday Mumbai: T A Ramalingam, former senior president of Bajaj Allianz...
Global energy insurance market continues to soften with capacity at an all-time high: Willis
In Asia, insurance capacity from Asian-based insurers remains very strong. Over the last two years, some insurers have set up new and expanded capacity in the region due to market profitability in the downstream sector. This is coupled by an increased demand from...