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New Lloyd’s consortium brings together capacity up to $345 million per risk globally as WTPV market surges
Jonathan Powell, Managing Director, Guy Carpenter said,“Clients are facing urgent and complex capacity needs following the Middle East conflict. Guy Carpenter was pleased to place the TFP PVT Consortium to provide structured, dependable capacity at scale. This...
Insurers underestimating earthquake losses due to “sonic boom” blind spot:MS Amlin
Researchers at the Lloyd’s insurer found so called “supershear” earthquakes accounted for 66% of insured losses from earthquakes since 2016 – equivalent to $13.2 billion - yet are absent from seismic hazard models, building design codes and insurance catastrophe...
Aon appoints José María Navas as chief claims officer for EMEA
In this role, Navas leads the firm’s claims organization across EMEA, overseeing strategy, advocacy and claims preparation capabilities to support clients in navigating an increasingly complex claims environment. DUBLIN: Aon plc today announced the appointment of José...
Munich Re appoints new Cyber Heads for Asia-Pacific and Africa markets
“While mature markets benefit from broader claims experience and greater transparency, limited loss data in less mature markets should not be mistaken for lower malicious or non-malicious exposure.These markets require even stronger underwriting discipline and careful...
Congress raises questions on ‘substantial’ LIC stake in firm under SEBI scanner
Capital markets regulator SEBI on Wednesday barred Rajesh Exports Ltd's promoter and CEO Rajesh Mehta from dealing in the company's securities, alleging large-scale misrepresentation of financial statements and diversion of funds. New Delhi: The Congress on Thursday...
Kotak Life appoints Amit Palta as Deputy Managing Director
Kotak Mahindra Life Insurance has appointed Amit Palta, from ICICI Prudential Life Insurance,as deputy managing director - designate, subject to regulatory approval.With a career spanning 30 years in the financial services industry, Amit brings deep expertise in...
Mapfre Re appoints Swiss Re’s Chaturbhuj Bansal to head its GIFT-IFSC branch
This appointment represents a key milestone in Mapfre Re’s Asia-Pacific strategy and supports the company’s ambition to build a strong local presence, enhancing proximity to clients and brokers in the region GIFT City: Spanish major Mapfre Re has appointed Chaturbhuj...
CEOs quitting general insurance companies to pursue entrepreneurial ventures
"Private equity firms recognise that capital alone cannot unlock this market; what converts opportunity into enterprise is the credibility that only seasoned operators can provide. A veteran CEO carries, in effect, a ready-assembled portfolio of regulator...
Global insurance market expected to continue shifting eastward over next decade: Allianz
Overall, the global insurance market is expected to grow at an annual rate of +5.3% over the next ten years, slightly above economic output. Munich:The global insurance market is expected to continue shifting eastward over the next decade, with India and China gaining...
Insurance market in India likely to grow at 10.7 pc annually over next decade: Allianz Report
Despite ranking among the world's ten largest insurance markets, India remains significantly underinsured, with insurance penetration of 3.8 per cent of GDP, a report by Allianz said, adding that with only about 46 per cent of the working-age population effectively...
Global natural disaster protection gap surpasses $420 billion:Swiss Re
The cost of natural catastrophes such as hurricanes and wildfires has continued to rise in recent years, as a combination of climate change, urbanization and inflation mean disasters are getting more costly when they hit. In North America, the gap between insured and...
Aon expands its global capability centre in Bengaluru
“India continues to play a critical role in our global operations, and this investment reflects our long-term commitment to growing our capabilities here. By expanding our presence with a modern, highly collaborative environment, we are strengthening connectivity,...
El Niño concerns put Govt on alert, farmers’ interests to be protected at all costs: Shivraj Singh Chouhan
Shivraj Singh Chouhan,Union Minister for Agriculture and Farmers’ Welfare, and Rural Development, directed that in those states and districts where the possibility of low rainfall, long dry spells or relatively higher impact of El Niño exists, special monitoring,...
Hostilities flare in Iran war, oil jumps with talks at a stalemate
The latest flare-up, which lifted oil prices by more than 1% in early trade on Wednesday, comes more than three months after the initial U.S. and Israeli strikes on Iran, with the conflict mired in a stalemate under a shaky ceasefire and the Strait of Hormuz largely...
Telangana bans cash wages, brings gig workers under new regulations
While providing historic safety nets for labour, the new government order (GO) offers strategic advantages to corporate management and industry.The GO eliminates the "fragmented, friction-heavy industries-wise frameworks seen in other states" and implements a unified,...
Can’t employ temporary staff in precarious condition while seeking work similar to regular employees:SC
The bench said this court has taken a consistent judicial approach that long-serving employees, whether casual or temporary, particularly those who have been conferred recognised status, cannot be denied corresponding benefits including social security and pensionary...
Anthropic broadens availability of Mythos, extends access to 150 new groups
Mythos has emerged as a focal point for the San Francisco-based company in recent months. Anthropic has said that the software is capable of identifying and exploiting vulnerabilities “in every major operating system and every major web browser when directed by a user...
AI investments rise, but expected savings remain elusive, says Bain’s global survey
“Despite a decade of investments in data modernization running well into hundreds of billions of dollars globally, the No. 1 reason AI programs underperform is that companies cannot reliably get access to their own data,” Bain said. Cost savings from automation are...