by AIP Online Bureau | Oct 22, 2024 | Eco/Invest/Demography, Indian News, Life, Non-Life, Reinsurance
Debasish Panda, chairman, IRDAI The regulatory body’s chief said more than consolidation, Irdai is working on growing the number of players in the industry and also held roadshows in Japan, Europe and the US recently where it told global investors about the...
by AIP Online Bureau | Oct 18, 2024 | Eco/Invest/Demography, International News, Life, Policy, Regulation, Workplace/Employee Benefits
The move comes two days after the government — in a rare move — said it wouldn’t be in the public interest for the Income Insurance Ltd. transaction to go ahead in its current form. It wasn’t satisfied the firm can continue to fulfill its social mission as a...
by AIP Online Bureau | Oct 16, 2024 | Indian News, Intermediaries, Non-Life, Regulation, Reinsurance
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,...
by AIP Online Bureau | Oct 15, 2024 | Indian News, Non-Life, Reinsurance
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...
by AIP Online Bureau | Oct 11, 2024 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance
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...
