Global demand for reinsurance increased by approximately 10 percent...
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PE firm JC Flowers picks up majority stake in Bobby Swarup’s Niyam Group
Niyam is a reinsurance platform based in GIFT City, connecting...
APR1 Renewals: Reinsuers fight hard to survive soft Indian market
Reinsurers have been surprised with the price drop on risk which...
Scor under examination over former chair’s alleged acts related to a Covea deal
Denis Kessler, former chairman, SCOR Denis Kessler, who was SCOR’s chairman for 21 years until his death in 2023, Adrien Couret, CEO of mutual protection group Aema, and Jean-Claude Seys, co-founder of Covea, were said to have tried to derail the deal, according to...
Global cyber insurance market to reach $ 16.3bn in 2025,says Munich Re
Thomas Blunck, CEO, Reinsurance, Munich Re: “As digitalization advances, cyber protection against one of the biggest threats to economy and society is becoming more and more important. And yet, a large number of organizations lack adequate safeguards and coverage....
Firm issued fake insurance for Russian oil tankers, Norway’s regulator says
Such vessels are not regulated or covered by conventional Western insurers, posing the risk of unsafe tankers and environmental damage in the event of a wreck. The insurance issued to dozens of aging oil tankers used by Russia to skirt international sanctions was...
Govt forms high powered panel to revamp pricing and reinsurance mechanisms for PMFBY
The committee will be chaired by additional secretary (Crop Insurance), Department of Agriculture & Farmers Welfare (DA&FW) and some of the other members are Devesh Srivastava, former CMD, GIC Re, Girija Subramanian, CMD, New India Assurance, Saurabh Mishra,...
Allianz scraps nuclear, military exclusions to back Europe’s rearmament drive
AGI wrote to its clients late last week to advise that its sustainable funds could now buy into companies that earned more than 10% of their revenue from military equipment and services. Germany’s Allianz Global Investors has dropped two exclusions blocking its...
APR 1 Renewals: Indian general insurance industry rejoices with soft pricing, surplus capacity and market discipline
GIC Re and Foreign Reinsurance Branches (FRBs) and IIO reinsurers in GIFT-IFSC came in strong support of the market at Apr 1 renewals ``Yes, we did write more business than last year. Generally, we found the market to be soft with rates either below or same as...
SBI Gen pays its first parametric claim of Rs1.06 cr for Nagaland’s natural disaster losses
“Our parametric insurance model ensures that financial assistance reaches the affected communities and regions without delays, helping strengthen resilience against natural disasters. As climate variabilities increase, parametric insurance plays a vital role in...
200 aircraft leased out from Gift City: Civil Aviation Minister Naidu
India had 340 aircraft in 2014 and that number has increased to 840 and airlines have placed orders for 1,700 planes. "We are bringing a law to ratify Capetown Convention which will reduce the leasing costs by 8-10 per cent. The reduction in leasing costs will trickle...
Insurance industry not expecting any large claims out of earthquake damages in Myanmar and Thailand
This is a significant human tragedy. Unfortunately, there will be a notable protection gap highlighting the continuing need to bring more insurance capital into emerging markets. In comparison to primary perils such as typhoons and floods, earthquake risk in Thailand...
Over 4.6 crore farmers got IDs under digital agri mission :Chouhan in RS
Union Agriculture Minister Shivraj Singh Chouhan As many as 7,708 lakh farmers have so far received insurance cover under the PM Fasal Bima Yojna and farmers have received claims of Rs 1.74 lakh crore since 2016 under the scheme which has now emerged as the world's...