Intermediaries

Insurers expect a Rs 2000 crore hit from ``Amphan'' devastated WB and Orissa

Indian News       May 31, 2020

  Kolkata: The domestic general insurers are now expecting a Rs 2000 crore hit from two states- West Bengal (WB) and Orissa where cyclone ``Amphan'' has severly devastated some of parts of these two states. Till Saturday, the general insurance industry had already received claims worth...

COVID-19: India now ninth-worst hit country in world with 1,65,799 cases

Indian News       May 29, 2020

  New Delhi: The number of COVID-19 cases in India has climbed to 1,65,799, making it the world's ninth worst-hit country by the coronavirus pandemic.   The Health Ministry said the death toll due to COVID-19 rose to 4,706 in the country, while the number of cases...

HDFC Ergo collaborates with Apollo clinic to offer health insurace products 

Indian News       May 27, 2020

      Mumbai: HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, and Apollo Clinic, India’s leading multi-specialty clinics by Apollo Health and Lifestyle (AHLL), announced their corporate agency tie-up to offer insurance products to customers.   HDFC ERGO’s Health insurance policies...

Gallagher launches Pandemic group insurance product for India’s Front-Line Workforce

Indian News       May 04, 2020

  International insurance broker Gallagher, through its Indian joint venture Edelweiss-Gallagher- launched a Pandemic Group Insurance product, providing a comprehensive COVID-19 indemnity cover solution in the country.   The cover can be bought by the essential workers and front-line services including hospital and healthcare providers, food distribution,...

COVID-19 general insurance losses seen higher than 9/11 claims: Willis Towers Watson

International News       May 04, 2020

  London: Insurance broker Willis Towers Watson on Friday estimated general insurance losses between $32 billion and $80 billion across key classes in the United States and UK from the novel coronavirus, surpassing claims from the 9/11 attacks.   A report by the broker showed early estimates...

Quarterly global InsurTech fundraising trend slashed by over 50%, COVID-19 a likely culprit:Willis Towers Watson

International News       May 04, 2020

  London:  Despite the clear impact of COVID-19 on InsurTech investment worldwide during Q1 (which saw almost the same amount of money raised in its first three days as was then subsequently raised in its final three weeks), InsurTechs raised a total of US$912 million during...

Aon to cut salaries of most employees, suspends stock buybacks

International News       Apr 28, 2020

  London:  Aon PLC, said on Monday it was cutting salaries of its executives and most of its employees, and suspending its stock repurchase program, as it looks to preserve financial flexibility amid the COVID-19 pandemic.   In a letter to employees, Chief Executive Greg Case said...

Total global reinsurance capital rises by 15% to $605 bn at year-end 2019,underlying returns remain low: Willis Re

International News       Apr 27, 2020

  London: Total capital dedicated to the global reinsurance industry measured US$605 billion at year-end 2019, reflecting robust 15 per cent year-on-year growth.This was primarily driven by 2019’s strong investment market performance and was achieved despite a 3 per cent contraction in alternative capital, according to...

Vivek Nath

Vivek Nath to head Willis Towers Watson’s South & Southeast  Asia operations 

International News       Apr 23, 2020

  Singapore: Willis Towers Watson,a leading global advisory, broking and solutions company, recently announced the appointment of Leng Leng Ng as Country Leader for Singapore, in addition to her current position as Head of Corporate Risk and Broking (CRB) in Singapore.   She takes over the position...

Facebook invests $5.7 billion in Reliance unit to reach small Indian grocers

Indian News       Apr 22, 2020

  Mumbai: Facebook will spend $5.7 billion for 10% of Reliance Industries’s digital business, as the social media firm looks to leverage its popular WhatsApp messenger to offer digital payment services to small grocers in India.   Facebook said that its focus would be to create ways...

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