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Lloyd’s partners with World Bank Group in bid to boost guarantees to $20bn by 2030
Lloyd’s CEO, John Neal, said, “Collaboration is the hallmark of the Lloyd’s market, and through our ongoing partnership with MIGA, the (re)insurance industry has facilitated projects around the world which are having a tangible impact on the local and national...
Reinsurers differ on expectations for pricing in Jan 2025 renewals: Fitch survey
``We believe the pricing cycle has most likely passed its peak and we expect a softer market in 2025 due to the sector’s abundance of capital. We recently revised our global reinsurance sector outlook to ‘neutral’ from ‘improving’ to reflect this,'' said Fitch London:...
Average health claim size rises 12% to Rs 70,558 in India in 2023-24: ACKO report
The average claim size in India for 2023-24 stands at ₹70,558, up from ₹62,548 in the previous financial year, a significant increase of 11.35%, reflecting the broader surge in healthcare expenses Bengaluru: With rising hospitalisation costs, the average claim size in...
New York Life Insurance makes strategic investment in Max Estates, commits Rs 1200 crore
Sahil Vachani, MD & CEO of Max Estates, said, “We are pleased to announce that our partnership with New York Life Insurance has grown from strength to strength. This capital infusion significantly enhances Max Estates' financial capability to deliver top-tier...
Indian mutual fund industry set to cross 50 mn unique investors
The systematic investment plans (SIPs) reached fresh highs as monthly contributions via SIPs hit Rs 23,547 crore in August, against Rs 23,332 crore in the previous month Mumbai: The mutual fund industry in the country saw assets under management (AUM) surging to Rs...
Probe into EY India’s office after worker’s death finds it lacked labour welfare permit
EY faces scrutiny in India over the death of audit executive Anna Sebastian Perayil, which her mother blamed on a "backbreaking" workload in a letter to EY India's chairman NEW DELHI: An Ernst & Young (EY) office in western India, which employed a 26-year-old who...
20TH SIRC: Singapore Dy PM Gan Kim Yong to deliver keynote address
“With the strong line-up of panels and a dynamic meeting agenda fostering robust debate, we are excited to bring the global industry together for yet another year to shape the future of the reinsurance industry,'' Marc Haushofer, Chair of the SRA Singapore: The...
Businesses in APAC taking longer to convert working capital into cash, affecting liquidity: Aon
According to the report, the average days receivable for Asia Pacific companies for year ending 2023 was 71 days. Although a small increase from 2022, an increase in days receivable reflects a decrease in working capital availability and indicates slower collection of...
Zurich Kotak General Insurance to scale up its commercial insurance portfolio, Ajey Hegde to head the unit
Sean Walker, Head of Commercial Insurance & Chief Technical Officer, APAC, said, “As Indian businesses continue to grow, Zurich Kotak is well-positioned as a key risk management partner, helping commercial customers better understand and navigate current and...
Goyal asks realtors to ensure guaranteed ESIC, PF registrations for 7 cr people working in sector
Piyush Goyal,Union Commerce and Industry Minister "I urge you to kindly think about this in very serious terms… can we ensure a guaranteed ESIC and provident fund registration of all these 70 million workmen and women (working in this sector)," Goyal told real estate...
Audit bodies must address growing risks of privacy breaches, social exclusion: CAG Murmu
Girish Chandra Murmu, Comptroller and Auditor General of India "Whether during the pandemic, in the fight against climate change, or in advancing the Sustainable Development Goals (SDGs), the role of Supreme Audit Institutions(SoIs) in preserving integrity and...
MSIG Insurance launches health policy to cover Parkinson’s disease and Alzheimer’s disease in Singapore
A patient afflicted with dementia is estimated to incur $1.6 million in expenses if the individual survives for 10 years.3 Without CI plans to mitigate medical inflation, ongoing treatments for critical illness may be beyond the means of average Singaporeans...
The Global Accelerator on Jobs and Social Protection for Just Transitions brings together government and United Nations (UN) agencies in the Philippines to develop a roadmap on supporting decent work and social protection. Initially, the roadmap will focus on the...
Mercedes Benz fire incident may slow down EV transition in South Korea
Although batteries are a critical component in electric cars and can pose serious safety risks if not properly manufactured or managed, automakers have so far kept the identity of their battery suppliers confidential, not just in Korea but around the globe. A...
Thousands of fires are burning in the drought-wracked Amazon
Climatologists have warned for decades that events like this year’s would come to pass. Droughts in the last two decades have become much more severe and much more common. The last year — the hottest on record globally — brought Brazil’s extremes to a new level Much...
Environmental activist ClientEarth sues Germany over pesticides use
The group said in a statement Germany was not complying with the 2009 Sustainable Use of Pesticides Directive. The EU law should have been in force across the 27-member by 2011, but the reality has been patchy implementation, the group said Environmental activist...
InGovern raises concern over delay in AGM; Religare term the report manipulative
Responding to the report, Religare Enterprises chairperson Rashmi Saluja said, "The report is manipulative in nature and is a malicious attempt to hurt the credibility of the company and its leadership. We are compliant with all laws and regulations and continue to...
AB PM-JAY: World’s largest government-funded health insurance scheme in six years of launch
J.P. NaddaUnion Health Minister Ayushman Bharat has become a lifeline today, with more than 60,000 patients getting free treatments daily and crores of families getting 'insulated' from exorbitant medical expenses New Delhi: Ayushman Bharat has become a lifeline...