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Investigation into AI-171 accident still in progress, clarifies AAIB
The preliminary report released earlier provided factual...
Aon appoints Joe Peiser as CEO of Risk Capital
Peiser's appointment reflects Aon's broader strategy to strengthen...
PSU general insurers promote record number of officials to fill up post of GMs and DGMs
GIPSA, the coordinating agency for the six PSU companies, has completed the largest ever promotional exercises in the industry and published the results to fill up 30 post of general managers and 97 deputy general mangers(DGMs) New Delhi: After creating a...
Status Quo: IRDAI retains general insurers’ Obligatory Cession for GIC Re at 4% in FY26
The percentage cession of the sum insured on each general insurance policy to be reinsured with the Indian Re-insurer (GIC Re), will be 4% (four percent) during the financial year beginning from 1st April, 2025 to 31st March, 2026, except the terrorism premium and...
Swiss Re appoints Kera McDonald as its Group Chief Underwriting Officer
Swiss Re's Group Chief Executive Officer Andreas Berger said: "Underwriting is at the core of everything we do, and the re-establishment of this function underscores our commitment to enhancing technical excellence across all businesses.'' Zurich: Swiss Re announced...
Hong Kong’s Peak Re receives license to open office in GIFT-IFSC
Peak Re, the fourth reinsurer to get a license, has a total global business of $1.75 billion. It has already developed a major Indian portfolio, largely constituting Crop and Property, as a Cross Boarder Reinsurer(CBR) and gearing up to expand it further in the...
Adhere to timeline for rolling out revised pilot duty norms, Delhi HC tells DGCA
The court was hearing pleas filed by Indian Commercial Pilots Association, Indian Pilots Guild and Federation of Indian Pilots relating to DGCA's revised flight duty time limitations New Delhi: The Delhi High Court on Monday directed the Directorate General of Civil...
Munich Re appoints Hanh Nguyen as its Head of Treaty P&C Underwriting for South-East Asia and India
Hanh Nguyen, Head of Treaty P&C Underwriting- designate, South-East Asia and India Hanh Nguyen said,`` Underwriting discipline will remain crucial for the markets. We strive to increase insurance penetration in the region by fostering risk mitigation measures,...
Buffett’s Berkshire posts record profit on insurance, investments
Warren Buffett, chairman, Berkshire Hathaway "You really saw the power of Berkshire's insurance operations and investments,"Thomas Russo, a partner at Gardner Russo & Quinn in Lancaster Warren Buffett's Berkshire Hathaway on Saturday posted its third straight...
Some tankers in Mediterranean Sea visiting Russian ports hit by mystery explosions
“All the indications are that these have been deliberately orchestrated, but it’s with a significant degree of sophistication,” said Munro Anderson, head of operations at Vessel Protect, a major war-risk insurer of ships. “So, the big question that leads to is: ‘by...
Deadly airline crashes tarnish industry’s sterling track record
And although the recent string of accidents may be statistical anomalies, they’re still startling given how US commercial passenger carriers had enjoyed years without a fatal crash, said Kristy Kiernan, a safety expert and associate professor at Embry-Riddle...
IRDAI imposes Rs 1cr fine on UIB Insurance Brokers for flouting premium remittance rules
According to the IRDAI, the broker does not have any right over the insurance premiums so that the amounts are timely remitted to the respective parties to ensure the coverage and payment of claims and thus protect the interest of the policyholders. These are the...