The war has closed much of the region’s airspace and crippled Dubai...
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IRDAI issues licenses to Kiwi General Insurance and Allianz Jio Reinsurance, approves draft regulations for new SBSR Act
Ajay Seth, Chairman, IRDAI In order to expedite the regulatory...
Govt says Air India plane crash probe report will be out “very soon”
"Regarding the AI171 crash that happened in June last year, the...
Generali Global Corporate & Commercial forays into India, to deliver customised insurance solutions to corporates
Rob Leonardi, Regional Officer, Generali Asia, said: “India has been recognised globally as the fastest-growing major economy in recent years and the launch of GC&C India shows how Generali is fully in lockstep with the needs of local businesses. The Indian...
Munich Re promotes Parametric solutions for Cat losses in India
An one day event on ``Disaster Risk Transfer and Financing Solutions for India'', organised by Munich Re, aims to bring together representatives from various Indian states, the insurance industry, government bodies, International organizations experienced in disaster...
Govt says sanctioned Russian oil tankers can discharge before Feb 27
India's oil secretary Pankaj Jain said the deadline, as outlined by the US sanctions, for completing financial transactions was March 12. India follows United Nations sanctions, rather than those imposed by individual countries, but fears of secondary sanctions by the...
LA wildfires may use up over 30% of Cat budgets of Europe’s largest reinsurers for 2025
The impact of the fires on European reinsurers’ natural catastrophe budgets will clearly be significant, but the implications for their earnings and capital are not likely to be material. Paris/London: The recent Los Angeles wildfires may use up over 30% of the...
Employee medical plan costs: Aon forecasts 11.1% increase for businesses in Asia Pacific
"The high medical trend rate can also be attributed to a higher incidence of cancer and chronic conditions than before the COVID-19 pandemic. Managing the impact of medical inflation therefore should be a top priority for all southeast Asia markets and especially...
India expands Russian insurers’ pool after US sanctions
As well as extending approvals for some sanctioned providers, India’s Directorate General of Shipping authorized Soglasie Insurance Co. to provide insurance for vessels entering Indian ports until February 2026, according to to the regulator’s website. As Soglasie...
Yemen’s Houthis to target only Israel-linked vessels following Gaza deal
Higher war risk insurance premiums, paid when vessels sail through the Red Sea, have meant additional costs of hundreds of thousands of dollars for a seven-day voyage for any ships still sailing through the area. Yemen's Houthis will limit their attacks on commercial...
New research by the Geneva Association analyses the effects of ‘slowbalisation’ on the insurance industry
Jad Ariss, Managing Director of the Geneva Association, said: “The tides of globalisation are shifting, with geo-economic fragmentation posing both challenges and opportunities for the insurance sector. Insurers must navigate rising volatility, restricted...
IFSCA and IRDAI to work together for pulling global re/insurance investment into India: Rajaraman
L to R - PK Arora, Member, IRDAI, T Alamelu, Principal Advisor, Insurance, International Financial Services Centres Authority (IFSCA ) , K Rajaraman, chairman, IFSCA at the inaugural of 2nd Edition of IFSCA-IRDAI GIFT IFSC Global Reinsurance Summit’ in Mumbai on...
`IFSCA-IRDAI GIFT IFSC Global Reinsurance Summit’- International reinsurers gather in Mumbai on Monday to brainstorm their India strategies
K Rajaraman,Chairman, International Financial Services Centres Authority To be addressed by K Rajaraman, chairman, IFSCA, PK Arora, member, Actuary and Reinsurance, IRDAI, Tapan Ray, MD&CEO, GIFT City and host of Indian and international reinsurance experts, the...