The refiner, part-owned by Russian oil major Rosneft PJSC, is an...
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Govt has rescue-centric approach to handle disasters: Amit Shah
Amit Shah, Union Home Minister ``As a result of the efforts of the...
Howden Re appoints Candy Wong as Head of Treaty for Hong Kong
Howden Re has announced the appointment of Candy Wong as Head of...
What’s in the EU’s 18th sanctions package against Russia?
Central to the package is a lower price cap on Russian oil – a move designed to shrink Moscow’s energy revenues without disrupting global markets by severing Russian supply entirely. Here are the details of the European Union’s 18th package of sanctions against Russia...
Private sector general and health insurers record higher underwriting losses in FY 25
Led by Tata AIG General insurers, which had an underwriting losses of Rs 2,229 crore, 25 e private sector multiline general insurers ‘ underwriting losses have spurted by 12 per cent to Rs 12,398 crore in FY 24-25.Similarly, with Star Health at the top, the...
Uttarakhand crash: AAIB says helicopter tumbled down hill after rotor blade hit overhead cable
The 17-year-old Bell 407 helicopter operated by Aerotrans Services Pvt Ltd, with six passengers onboard, crashed 24 minutes after being airborne on May 8. New Delhi: A preliminary probe into the helicopter crash that killed six people in Uttarakhand in May has found...
Allianz and Reliance Group’s Jio Finance float three 50-50 JVs for life,non-life and reinsurance business in India
Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe B.V. on Friday entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance...
EU imposes sanctions on Rosneft’s India refinery, lowers oil price cap
"For the first time, we're designating a flag registry and the biggest Rosneft refinery in India," EU foreign policy chief Kaja Kallas said in a post on X. Other measures adopted by EU include sanctions on dozens more vessels in Russia's shadow fleet of oil tankers,...
Global Cat insured losses at least $100 billion for 1H 2025: Aon
According to preliminary estimates, 1H economic losses in the U.S. alone reached at least $126 billion, surpassing 1994 ($115 billion) as the costliest 1H on record and significantly above the 1H average since 2000 ($41 billion). In contrast, economic losses in all...
Cyber security and IT services provider Intersys sets up India operations
Led by Tanmay Gore, director of Intersys India, located in Mumbai, will address a key challenge in the market: the difficulty of assessing and pricing cyber risk for organisations that often lack dedicated IT security resources Mumbai: London based Cyber security and...
July 1 reinsurance renewals confirm downward pricing pressure: Fitch
Pricing across most reinsurance lines continued to gradually fall, as it had at the January and April renewals, and rates for loss-free property programmes fell by 10%–15%. In contrast, US casualty pricing was broadly flat, and retrocession pricing and coverage...
Earlier crop insurance scheme saw cheating as insurers got profits farmers didn’t benefit Minister
"Large-scale irregularities came to light (in the previous scheme). Some insurance companies indulged in irregularities. So a decision had to be taken. So far, crop insurance companies have earned profits of Rs 10,000 crore," Maharashtra Agriculture Minister Manikrao...
ICICI Lombard general insurance net profit rises 29% to Rs 747 crore in Q1FY 26
The insurer's Combined Ratio, a key metric that compares claims and expenses to premium income, worsened to 102.9% in Q1FY26 from 102.3% a year ago though, there is fall in the underwriting losses of the company from Rs 346 crore in Q1 FY 25 to Rs 293 crore in Q1Fy...