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MP urges Sitharaman for easing ‘stringent’ lapse rules in life, health policies in Rajaya Sabha
“It is the ruthless lapse rules governing life and health insurance policies. Today, most insurance policies, including those under LIC, provide a mere 30-day grace period for premium payment. A single list installment caused by sudden job loss, medical emergency,...
Apr1 Renewals:India’s loss-free excess of loss business saw price reductions exceeding 20%, says Guy Carpenter
Atish Suri, CEO India, Middle East & Africa, stated,"In the India and Middle East markets, we are seeing a strong commitment from reinsurers to maintain coverage despite the complexities posed by ongoing conflicts.'' In terms of Apr 1 renewal outcomes, India and...
HDFC Life partnership with KKR for IPL cricket season
HDFC Life has announced its association with the Kolkata Knight Riders (KKR) as an official partner for the recently commenced IPL cricket season. Pritika Shah, head-marketing, HDFC Life, said, "Given India’s diversity, we have been building our brand through...
Peak Re ends 2025 with a $2.2 billion gross premium and net profit of $189 million
During 2025, the growth of Peak Re was primarily driven by the continued deepening of its global diversification strategy. It strengthened its presence in high-growth emerging markets such as India, while further expanding its penetration in the mature markets of...
IRDAI forms joint expert group under Rajay Sinha for developing Ind As norms
Rajay Kumar Sinha member, Finance & Investments Indian Accounting Standards (Ind AS) is getting implemented from Apr 1 Hyderabad:In a bid to manage the technicalities for implementing Indian re/insurers to impement Indian Accounting Standards (Ind AS), which is...
CBI files case against Anil Ambani, RCom in Rs 3,750 crore LIC case
The case has been registered on the basis of a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption Act, according to an official statement. New...
Apr1 Renewals: Reinsurance buyers in APAC secure double‑digit rate reductions, says Aon
Global demand for reinsurance increased by approximately 10 percent at the April 1 renewal, as buyers used favorable market conditions to secure more comprehensive protection, with some expected to return to the market post‑renewal to explore additional purchases. In...
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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 global capital with opportunities in India and other high-growth markets. Niyam Syndicate 2047 at Lloyd's will support the development of the Indian reinsurance market in alignment with India's Vision...
APR1 Renewals: Reinsuers fight hard to survive soft Indian market
Reinsurers have been surprised with the price drop on risk which has been more than expectations, mainly due to previous years good results and interest in the Indian risks. With uncertainty in the Gulf, the interest on Indian risks is also higher. Overall many...
War risks insurers win bid to appeal UK ruling on jets lost in Russia
London’s High Court ruled in June that AerCap can recover just over $1 billion from its “war risks insurers,” though that was less than the roughly $2 billion it sought under a broader all-risks clause. London:Insurers, including Chubb, Fidelis and syndicates at...
Apr1 Renewals: property-catastrophe rates fall, acute stress across multiple specialty lines due to ME geopolitical turmoil, says Howden Re
Looking ahead, mid-year 2026 renewals are expected to face more complex conditions globally. Upward pricing pressure across marine, energy and political violence is anticipated as the full impact of the Hormuz crisis is absorbed, and reinsurers reassess aggregation,...
Sanjay Lohiya to succeed Nagaraju as new DFS Secretary
Sanjay Lohiya, special secretary, Department of Financial Services Lohiya has been appointed as a Special Secretary, Department of Financial Services, Ministry of Finance by temporarily upgrading a vacant post of Joint Secretary in the Department. will take over as...
Ping An bets big on AI for business transformation
“The AI era successfully opened the window for reshaping services.The returns on investment are tangible, highly visible, and unequivocally compelling.” Ping An’s Chief Technology Officer Ray Wang said. Five years ago, almost no accident and health insurance claims at...
Missing crew not found in Iran-hit vessel, Thai ship owner says
Mayuree Naree, owned by Bangkok-based Precious Shipping Pcl, was struck on March 11 by Iranian projectiles while transiting the strategic waterway in ballast. Of the 23 crew members on board, 20 were rescued by the Omani navy after abandoning the vessel in a lifeboat....
Giant oil tanker off Dubai hit by Iranian strike after Trump’s latest threats
The strike on the Kuwait-flagged Al-Salmi is the latest attack on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.S. and Israel attacked Iran on February 28. TEL AVIV/WASHINGTON: Iran attacked and set ablaze a...
West Asia Crisis:Hormuz remains under Iran’s firm control
Until this war, one long-held assumption around Hormuz was that Iran would never attempt to close the strait, for fear of risking its own exports, a vital economic lifeline. In fact, ship-tracking data suggest that Tehran’s oil has continued to flow — almost entirely...
99.92% of Indian villages now have banking facilities within 5 kms radius
Pankaj Chaudhary, Minister of State in the Ministry of Finance Availability of banking outlets is monitored by a Geographic Information System (GIS) based Application, namely, the Jan Dhan Darshak (JDD) App The country has now 99.92% villages and 100% villages in the...