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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...
The April 1 Renewals: Changing Indian reinsurance market
While the momentum in India is toward expansion, the global environment remains highly volatile. This is no longer just a rate negotiation cycle; the market is balancing two forces that do not entirely align. What lies ahead is not a uniform market, but one that...
All insurance offices wil remain open on Mar31
The IRDAI has asked insurers to keep their branches open as per normal working hours on March 31, 2026.March 31 is a gazetted and public holiday in India owinng to Mahavir Jayanti.``The insurers may take note of the above and give adequate publicity to the special...
Two days of stock market slump wipes out Rs 18.60 lakh cr from investors’ wealth
"Another day of Carnage witnessed on D-Street. Uncertainty looms over sentiments. Escalating tensions in West Asia continued to weigh heavily on markets, as the ongoing US-Israel conflict with Iran entered its fifth week and expanded across the region," Siddhartha...
Indian re/insurers to impement Indian Accounting Standards (Ind AS) from April 1, can avail forbearance for 1-yr:IRDAI
To facilitate smooth transition, for insurers facing challenges in immediately shifting to Ind AS, a provision has been made to grant forbearance for one-year provided such a request will be be made on or before 30th April, 2026.. During the period of forbearance...
Life Insurance:Support for Indian households across stages
Out of the total benefits paid, ₹2.33 lakh crore has been on account of withdrawals and surrender, an increase of 1.77% over last year. Since persistency ratios remain robust, it signifies planned lifecycle exits.,said Kamlesh Rao, chairperson, Insurance Awareness...
India’s Population Dilemma:South states want more kids
Chandrababu Naidu — chief minister of the Indian state of Andhra Pradesh says that he is concerned that his state’s total fertility rate, the average number of children born to a woman over her lifetime, has fallen to 1.5 — about the same as in several European...