A trio of tropical cyclones battered the region from Sri Lanka to...
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Swiss Re and RIQ partner to advance risk transfer powered by data and AI
Swiss Re's Group Chief Executive Officer Andreas Berger said,"This...
Allianz and Oaktree join hands to launch reinsurance syndicate at Lloyd’s
Thorsten Fromhold, Chief Group Reinsurance Officer, Allianz SE...
53rd GST Council- No tax on co-insurance and reinsurance commission, Rs 25,000 crore demand notices on Indian re/insurers revoked
(LtoR)- Sanjay Malhotra, Revenue Secretary, Nirmala Sitharaman, Union Finance Minister and Pankaj Chaudhary, minister of state,Ministry of Finance, at a press meet on Saturday after the 53rd Goods and Services Tax (GST) Council meet in New Delhi Earlier, Indian...
Industry urges action in Red Sea to stop attacks on merchant shipping by Houthis
Insurance industry sources said on Wednesday there was also mounting concern over the use of attack drone boats by the Houthis Urgent action must be taken in the Red Sea to stop attacks on merchant shipping by Yemen’s Houthis, leading industry groups said on...
Climate Change: The Era of Super-Wild Weather Is Already Here
Erich Fischer, a climate scientist at ETH Zurich, has been trying to do for heat something similar to what US researchers want to do for precipitation. His work in recent years has helped demonstrate that temperature records around the world are falling by greater and...
AIC’s net profit grows 20% to Rs 904 cr in FY24
`For FY 25, the company is targeting to grow its premium income in a single digit of around 5 per cent to 8 per cent. With continued efforts on claim management initiatives, the company is confident of maintaining the healthy claims ratio and confident of making the...
World’s largest shipping register withdraws its approval for Russia’s Ingosstrakh Insurance
In practice, the Liberia’s move may well prove symbolic. There are only three vessels covered by Ingosstrakh that sail under the flag of Liberia and none of them are oil tankers, according to a vessel database maintained for the International Maritime Organization The...
More than 800 coal plants worldwide could be profitably decommissioned, research group says
Around 15.5 billion metric tons of carbon dioxide are generated every year by 2,000 gigawatts of coal power. The International Energy Agency says emissions need to reach zero by 2040 if temperature rises are to remain within the threshold of 1.5 degrees Celsius The...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late Saturday the oil leak from the vessel had been contained, and that the oil that escaped from the damaged tanker had been treated with dispersants Singapore: An oil spill caused by a dredger boat hitting...
UK imposes sanctions on Russian insurer Ingosstrakh protecting ‘shadow fleet’ of tankers
Sanctions against Ingosstrakh are notable because it is major provider of coverage for the commercial fleet moving Russian oil, largely displacing insurers based in the UK and Europe. The company didn’t immediately respond to a request for a comment on how the...
Multibillion-euro court battle over stranded Russian jets begins in Dublin
Lessors are suing dozens of insurers around the world over losses of at least $8 billion after more than 400 planes were prevented from leaving Russia when Western sanctions over Moscow’s war in Ukraine forced the termination of their leases. Lloyd’s of London, Chubb...
Singapore Airlines offers compensation for flight hit by turbulence
“Passengers medically assessed as having sustained serious injuries, requiring long-term medical care, and requesting financial assistance are offered an advance payment of $25,000 to address their immediate needs,” that will form part of any final settlement, the...