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Iran woking on a draft bill to impose a fee on vessels seeking safe passage through Strait of Hormuz
According to the semi-official Fars, the plan would be finalised next week, and would legally recognize Iran’s oversight of Hormuz, a vital conduit which connects some of the world’s largest oil and gas producers in the Persian Gulf with the wider world. The Iranian...
Lagos State goes live with Parametric Flood Insurance policy, Protecting up to 4 million people
The parametric flood-risk product was designed by a team of Insurance Development Forum(IDF)member insurance organizations in partnership with the Lagos State Government, including AXA Climate, AXA Mansard in Nigeria, Swiss Re, flood modeler JBA Risk Management,...
Singapore general insurance market’s gross written premiums rise 8.4% to S$6.09 billion in 2025
Despite the higher claim environment, the domestic segment strengthened its underwriting performance. Underwriting profit rose 32% to S$289 million in 2025, up from S$219 million in 2024. This reflects the continued resilience of Singapore’s general insurance market....
Allianz Jio Reinsurance appoints Sonia Rawal as CEO,begins operations
Sonia Rawal as chief executive pfficer, Allianz Jio Reinsurance “Allianz Jio Re is well positioned to provide insurers with innovative and robust risk solutions. The joint venture will support India's insurance sector by combining global technical expertise with a...
SEBI Chairman launches Verified App Label initiative to protect investors from digital fraud
SEBI Chairman Tuhin Kanta Pandey noted that the regulator is prioritizing the safety of a rapidly expanding investor base that now exceeds 140 million unique participants. He explained that with more than 140 million unique investorsIndia's securities market currently...
Insurtech startup Plum nets $20 million in Peak XV-led Series B round
The Bengaluru-based company plans to use the fresh capital to scale marketing and sales efforts to expand its presence in India's corporate insurance market, deepen technology investments - particularly in AI-driven claims operations - and expand into preventive...
‘Polluter pays’ principle must not be reduced to ‘pollute and pay’, SC told
On November 18 last year, a three-judge bench headed by the then Chief Justice of India (CJI) B R Gavai reversed by a majority of 2:1 its own verdict by an interim order and paved the way for retrospective environmental clearance to projects found violating...
Chaucer and Ceto launch Lloyd’s marine MGA, integrating real-time vessel data into underwriting
With the global fleet now averaging more than 22 years of service, vessel age and other uniform parameters in isolation are an increasingly blunt indicator of risk. The MGA's underwriting method aligns insurance capacity more closely with demonstrated performance and...
More than 40 energy assets across 9 countries in ME “severely or very severely” damaged by war
The strikes last week on the Qatar’s Ras Laffan liquefied natural gas complex, which houses the world’s biggest export plant, reinforce concerns that turning the taps back on won’t be quick or easy, with an official estimate of as long as five years to repair the...
Iran reviews U.S. proposal to end Gulf war with initial negative response
Publicly, Iranian officials poured withering scorn on the prospect of any negotiations with the administration of U.S. President Donald Trump. But an apparent delay in delivering a formal response to Pakistan, which delivered a 15-point proposal on behalf of...
US jury finds Meta and Google liable for damages in social media addiction trial, to pay $3 million
The case involves a 20-year-old woman who said she became addicted to Google's YouTube and Meta's Instagram at a young age because of their attention-grabbing design. The jury found Google and Meta were negligent in the design of both apps and failed to warn about...
India drug regulator tightens surveillance against unauthorised weight-loss drug sales
At least half a dozen Indian drugmakers, including Dr Reddy's, Zydus and Sun Pharma, launched multiple brands of the blockbuster diabetes and weight-loss drugs, up to 70% cheaper than Novo Nordisk's drugs in some cases, after the patent for semaglutide expired last...
Stock markets’ two-day rally adds Rs 15.80 lakh cr to investors’ wealth
Indian equities extended their recovery for the second consecutive session, supported by improving global cues and emerging hopes of a potential de-escalation in the ongoing US-Iran conflict," Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal...
Foreign ships from friendly countries allowed in Strait of Hormuz, says Iran
Iran has started charging transit fees on some commercial vessels passing the Strait of Hormuz, people familiar with the matter have said, the latest sign of its control over the world’s most important maritime energy route. The war in the West Asia has all-but...
Soft Market:Air India renews its $20 billion cover with just 10% hike despite $475 million claims from Ahemedabad crash
London market sources said AI's premium has just risen by around 10 per cent over the last last year premium when it had paid $30 million covering $20 billion of assets and liabilities for around 300 aircraft. London/Mumbai:Post the Ahemedabad crash, Tata owned Air...
Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said: “Expanding our W&I capabilities across Asia Pacific is a natural progression, as demand for highly technical transactional risk solutions increases. Establishing dedicated underwriting presence in Hong...
Lloyd’s of London receives license to set up operations in India’s GIFT-IFSC
Two of Lloyd's Syndicates, Syndicate 2047 set up by Bobby Swarup' Niyam Group and Syndicate 2454, belonging to Africa Specialty Risks(ASR), have already announced their decisions to be part Lloyd's platform in the GIFT-IFSC. GIFT City/Mumabi:Lloyd's of London, world's...
NHRC notice to IRDAI over specially-abled children’s kin facing difficulty in getting life insurance
Taking cognisance of the complaint, the bench of the Commission headed by Priyank Kanoongo has issued a notice to Insurance Regulatory and Development Authority of India (IRDAI), directing it to take appropriate action in this matter and submit a response to the...