India Inc's insurance cost to go up as GIC Re hikes reinsurance premiums

Indian News       Jan 24, 2020

  Mumbai: India Inc has to shell out a lot more premium within the range of 20-50 per cent in the property segments, as GIC Re has decided to hike its reinsurance premium in as many as 291 occupancies since January 2020.Most of renewals in the...

-   Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance  

:Budget 2020:Indian General Insurance Industry

Articles       Jan 23, 2020

  People usually have a perception that if they have kept their money in  a bank, it’s completely safe, which is really not the case. Hence, there is a need to increase the limit of bank deposit insurance which appropriately safeguards the account holders. Currently the...

India’s slowing economy to weigh on re/insurers, says Moody’s

Indian News       Jan 22, 2020

  Dubai: Moody's Investors Service  in a report has said that India's slowing economy will weigh on insurance premium growth over the next 2-3 years, although supportive measures put in place by the Insurance Regulatory and Development Authority of India (IRDAI) will help counterbalance the deteriorating...

Bruce Carnegie-Brown(L), Chairman, Lloyd’s of London handing over the certificate of registration to Prabodh Thakker, Chairman Global Insurance Brokers, in Mumbai

Lloyd's remains bullish on Indian insurance market

Indian News       Jan 21, 2020

  Mumbai:  Bruce Carnegie-Brown, chairman, Lloyd’s of London,the largest specialised re/insurance marketplace in the world, has said India is very important to Lloyd’s business plans,as it represents a huge opportunity for growth.   The country is now the fastest growing global economy and is forecast to become...

WEF sounds alarms about Climate Change risks

International News       Jan 15, 2020

  The World Economic Forum is sounding alarm bells on climate change, with environmental risks occupying the group’s top five long-term concerns for the first time on record.   Extreme weather events, the failure of climate-change mitigation, major natural disasters, biodiversity loss and human-made environmental damage were...

Jon Hancock to quit Lloyd's

International News       Jan 15, 2020

  London: Today Lloyd’s announced that Jon Hancock has decided to step down as Performance Management Director(PMD) in 2020.Jon’s ground-breaking and market leading approach has reset the performance agenda, and in 2019 he also took the lead on Blueprint One as part of the Future at...

Zurich sees hardening rates, improving terms – first time since 2002

International News       Jan 14, 2020

  Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums.   “The last time this kind of market really existed...

Swiss Re launches first parametric earthquake Cat bond to hedge mortgage risks

International News       Jan 13, 2020

  New York: Swiss Re Capital Markets successfully closed the USD 225 million Series 2020-1 Principal At-Risk Variable Rate Notes transaction issued by Sierra Ltd. on behalf of Bayview's MSR Opportunity Fund ("Bayview"). This transaction is the first catastrophe bond issued under Rule 144A with a...

Iran apologises for plane crash, blames human error and 'US adventurism

International News       Jan 11, 2020

  Paris: The Ukrainian plane crash earlier this week was caused by human error and "U.S. adventurism", Iranian Foreign Minister Mohammad Javad Zarif said in a tweet on Saturday.   "A sad day. Preliminary conclusions of internal investigation by Armed Forces: Human error at time of crisis...

Cat bond issuance breaches historic $100bn milestone: Aon Securities data

International News       Jan 10, 2020

  Chicago: Aon Securities, the investment banking division of Aon plc  said catastrophe bond sector has surpassed USD100bn in cumulative issuance since its inception more than 20 years ago.   The sector, which began with the placement of a USD45m all-peril catastrophe bond in 1996, has since...

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