To facilitate the implementation of the Nuclear Energy Mission,...
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Reinsurance
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AM Best revises New India’s outlooks to positive
The Credit Ratings reflect New India’s balance sheet strength,...
Beijing Court orders Malaysia Airlines to pay $410,000 compensation to families of MH370 victims
The court ordered the airline to pay each family compensation for...
Tokio Marine Group partners with Resilient Cities Network to accelerate investments in urban resilience
The new partnership will see Tokio Marine Group companies provide expertise and support to the Taskforce with a focus on developing commercially viable finance and insurance solutions for project portfolios that enhance climate resilience in more than 100 cities. At...
“Reinsurance capacities in India may be required only for property, agri and specialty lines like aviation & cyber”
N Ramaswamy, CMD, GIC Re The effort from the Regulator is to create a more conducive environment for doing business as well as to attract more players to set up shop in India. The Indian market is in a stage of big growth and it will need huge capital resources from...
GIC Re’s net profit up 16% to Rs 1861 crore in Q2FY25
N Ramaswamy, CMD, GIC Re Though the largest Indian reinsurer has cut down its gross premium by 21 per cent to Rs 8,413 crore in the reporting quarter, it has improved its combined ratio, underwriting losses and incurred claims during the period ``Our continuous focus...
Bridge Specialty International launches with the rebrand of Lonmar Global Risks
Bridge Specialty Group, a global wholesale and specialty insurance brokerage, has announced plans to unify its London-based businesses Lonmar Global Risks, Decus Insurance Brokers and BdB Limited under Bridge Specialty International. Bridge Specialty International...
General Insurance industry grows 28% to Rs 30,378 crore in Oct
In a note worthy trend, seven stand alone health insurers have now captured 11.58 per cent of the market share in the general insurance industry in the first seven months of the current fiscal. It was 10.20 per cent in the corresponding period of the last fiscal...
Max Life integrates Swiss Re’s ‘Digital Health Underwriting’ solution to elevate the customer onboarding experience
Swiss Re’s DHU solution automates technical underwriting, using advanced technology to analyze multiple stacks of medical records and lab results concurrently. By providing real-time underwriting decisions and faster turnaround times, the solution enables more...
Flood risk: protective measures up to ten times more cost-effective than rebuilding: Swiss Re study
Flood risk is set to increase due to climate change and urban sprawl.Economic benefits of flood adaptation measures can be up to ten times the costs of post-disaster rebuilding. Dykes can reduce flood damage by 60-90%, especially in densely populated regions Zurich:...
IFRS Ready: IRDAI to meet industry honchoes to finalise norms at 2-day Bima Manthan
Debasish Panda, chairman,IRDAI ``It is our endeavour to implement Ind AS (including Ind AS 117) for insurers in India from 1st April, 2027 based on our experience and learnings from the proforma submissions and the communication in this regard will be circulated at an...
Emerging Indian Risks: Managing political, technological, environmental, economic, and competitive forces
Neelesh Garg, Managing Director & CEO,TATA AIG General Insurance Company As benign risk environments fade, resiliency is key to thriving amid challenges. Emerging risks are grouped into four categories: Known Knowns (predictable risks), Known Unknowns (risks with...
Spain floods to trigger total insurance losses in excess of $3.8 billion, will have limited impact on local re/insurers
Another rating agency S&P has said the catastrophic flash floods that hit the Valencia region on Oct. 29 will have limited effects on private insurers and reinsurers. Around 4,500 businesses in the Valencia area have been directly affected, half of which face...