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Lohiya asks PSGICs to strengthen their performance monitoring through standardised KPIs and quaterly review
Sanjay Lohiya, secretary,DFS advised the PSGICs to strengthen their focus on profitable lines of business and adopt suitable measures to bring down the Incurred Claim Ratio (ICR). New Delhi:Sanjay Lohiya, secretary,Department of Financial Services (DFS), Ministry of...
Peak Re announces 2 senior appointments
Victor Kuk, Chief Executive Officer of Peak Re, said, "The new appointments reflect our commitment to investing in the capabilities and talent needed to support the next phase of Peak Re's development. Hong Kong: Peak Re today announced the appointments of Nattakorn...
IFFCO-TOKIO General appoints Tatsuya Fujimoto as MD & CEO
Tatsuya Fujimoto,Managing Director and CEO Designate, IFFCO-TOKIO General Insurance Company Prior to this, he was director (Operations) at the general insurance company and replaced Subrata Mondal as MD and CEO. New Delhi: In a change of guard, IFFCO-TOKIO General...
Guy Carpenter changes its brand name to Marsh Re
Guy Carpenter, the reinsurance arm of Marsh, the largest international re/insurance broker has changed its brand name to Marsh Re. ``As Marsh Re, we are entering a new chapter that enhances how we serve clients in an increasingly complex risk environment.With the full...
Thailand shifts disaster risk to insurers with $467 million plan
The government on Tuesday approved a 15.5 billion baht ($467 million) annual insurance program to cover 30 million households against floods, storms and earthquakes, said Prime Minister Anutin Charnvirakul Thailand plans to provide government-funded disaster insurance...
Aon strikes $17 billion deal for rival USI as insurance consolidation accelerates
“Combining with USI will establish the premier U.S. middle-market platform, deepen our context advantage and position Aon to accelerate organic growth,” said Greg Case, president and CEO of Aon, in a statement. Aon plc early Monday confirmed a definite agreement to...
ASR upgraded to ‘A3’ with Stable Outlook by Moody’s
Mikir Shah, chief executive officer, commented,``This upgrade recognises the strength of our underwriting, our growing relevance in developing markets, and the strong capital foundation supporting the next stage of our expansion.As we broaden our reach across new...
LIC launches 2 New Plans: Bima Platinum and Jeevan Raksha
On the occasion of 70th anniversary of Life Insurance Corporation, R. Doraiswamy, the CEO & MD,LIC, launched two new plans- Bima Platinum (Plan 770) andJeevan Raksha (Plan 894). LIC’s Bima Platinum is a Non-Par, Non-Linked, Individual Plan which offers an...
IGI launches of Cipher, a Specialty Treaty Reinsurance platform focussing Cyber
Waleed Jabsheh,President & CEO,IGI The initial focus of Cipher is to develop a portfolio of cyber treaty business with lead capabilities, targeting high-growth emerging risks within an MGA structure. This platform can be utilized for future growth and...
Public Insurance Registry to strengthen consumer protection, market efficiency, insurance coverage and reforms, says IRDAI
`Envisaged not merely as a data repository, but as an innovation platform and a strategic investment in national economic infrastructure, the PIR will strengthen consumer protection, market efficiency, insurance coverage and supporting the next generation of insurance...
LIC at 70: Seven Decades of Trust, Protection and Progress
As LIC enters its eighth decade, it stands at the intersection of tradition and transformation. Armed with a robust digital infrastructure, a diversified product suite, unmatched financial might, a strong army of dedicated agents, distribution partners, employees and...
PM Modi calls India’s 7.8% GDP growth ‘herculean feat’ amid global uncertainties
"India's exemplary GDP growth of 7.8 per cent during Q1 of FY 2026-27 is a herculean feat.The growth came amid oil price shocks and supply chain issues, at a time when the global economy continues to face uncertainty,'' said Prime Minister Narendra Modi New Delhi:...
Govt asks PSU general insurers to borrow `EASE’ from banking counterparts to fight out competition, to be finalised on Sep 2
Debasish Prusty, additional secretary, DFS, on Sept 27, convened a meeting with executive directors and general managers of the six PSU insurers to deliberate on the proposed implementation of the framework.The discussions are to be followed by a higher-level meeting...
Before flood catastrophe, Nepal asked China for early warnings as risks mounted
"What we actually wanted from them, and still want, is if there are early movements of glaciers and early movements around that area, we would want to know a bit early," said Sauhardra Joshi, a hydrologist at Nepal's Flood Forecasting Division, who was in the May...
India records Asia Pacific’s largest reduction in days receivable, Aon report finds
India’s progress shows the opportunity for businesses to release more cash from their operations and put it toward growth.For CFOs and treasurers, benchmarking receivables performance against industry peers can identify where capital is tied up and inform decisions...
India needs credible carbon market to protect exporters as EU CBAM takes effect: CII-IIM report
The report said the carbon-price signal is becoming increasingly important for trade-exposed sectors such as steel, cement, aluminium, fertilisers, refining and petrochemicals. This assumes greater significance with the European Union's Carbon Border Adjustment...
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AI Cyberattacks: Global firms warn of ‘Limited Window’ to protect critical infrastructure
OpenAI, Anthropic, Microsoft, Google, Visa and Mastercard are among the signatories to an open letter issued on August 27, which cautioned that existing cybersecurity measures may soon prove inadequate as AI-enabled attacks become more widespread and sophisticated. A...