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FSIB gets ready to interview pvt sector professionals along with PSU officials for selecting GIC Re CMD
Some of the names who are belived to have applied for the post of...
EMEA insurance sector in 2026 to have stable operational and business conditions, says Fitch Ratings
Some pricing and competitive pressures will arise, alongside weak...
Sompo appoints Maya Dongyoung Lee as chief operating officer, Asia Pacific
Maya Dongyoung Lee as Chief Operating Officer, Asia Pacific, Sompo In her new role, Lee will be responsible for leading Sompo’s APAC operations, including operational excellence and resilience, transformation and project management, and building its operational...
Marsh fined Rs1 crore by IRDAI for violating Indian re/insurance regulations
The broker did not remit the premium to the insurer/reinsurer within the time limit of 15 days. In view of the above and a history of similar violations persisting for long, where in some cases, the delay in remittance of premium was observed to be more than 900 days,...
APAC reinsurers’ stable pricing in 2024 backed by adequate capacity, says Fitch
``We believe reinsurers can maintain profitability through rigorous risk selection and disciplined pricing amid rising competition, regulatory changes, climate impact and economic risks,'' said Fitch Jakarta: The APAC reinsurance market’s pricing in 2024 is stable due...
Acko General Insurance reports losses of Rs 670 crore in FY24
The company is not expected to be profitable even this year. Earlier this year, Acko founder Varun Dua had said the company could become profitable in the financial year 2026-27 New Delhi: New-age insurance company ACKO has reported Rs 670 crore loss in financial year...
Bridge Specialty International completes acquisition of Singapore-based Acorn International Network
Tim Coles, Chief Executive Officer of Bridge Specialty International, said: “This acquisition establishes us in the Singapore insurance market, further expanding our Asia presence and enabling us now to build a leading wholesale and specialty hub in the region. David...
AM Best upgrades GIC Re’s rating, assesses its business profile as favourable
AM Best upgraded GIC Re's Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) Singapore: After downgrading GIC Re's rating four years ago, AM Best on Friday has upgraded it that will...
Hurricane Milton leaves at least 10 dead, millions without power in Florida
More than 3 million homes and businesses in Florida were without power on Thursday morning, according to PowerOutage.us. At least some had already been waiting days for power to be restored after Hurricane Helene hit the area two weeks ago. Hurricane Milton plowed...
Milton’s insured losses will range from $30 billion-$50 billion: Fitch
Milton will push global industry insured losses thus far in 2024 to over $100 billion, which is the fifth consecutive year losses have crossed this threshold. This heightened level of catastrophe losses will likely limit any potential for rate declines in property...
Catastrophe bonds dodge worst-case scenario after Milton
Overall, Icosa Investments AG now sees insured losses in the range of $20 billion to $60 billion, meaning cat-bond investors look to be facing a maximum hit of 4%. On Wednesday, before Milton landed, Icosa warned that a direct hit to Tampa threatened to cause insured...
Lloyd’s of London must stop supporting fossil fuel expansion says NGO
“Lloyd’s will continue to follow government policy and regulatory requirements globally, while remaining committed to support an urgent and orderly just transition and remain agile in response to external shocks,” the emailed statement said. London: The Lloyd’s of...