Reinsurance

Coronavirus to hit reinsurers hard:AM Best

International News       Feb 03, 2020

  OLDWICK: A new Best’s Commentary, titled, “Coronavirus Highlights the Importance of Stress Testing,” notes that the reinsurers may face higher levels of risk than L/H insurers, as their risk profiles entail higher exposures to mortality and morbidity risks. However, global reinsurers have been broadening their...

Odisha is the most disaster prone state in the country:15th Finance Commission

Indian News       Feb 03, 2020

  New Delhi:  Odisha is the most disaster prone State in the country. The State scored the highest of 60 out of 70 in the Disaster Risk Index (DRI) prepared by the Fifteenth Finance Commission (FFC). A Disaster Risk Index (DRI) has been prepared by the...

IRDAI allows re/insurers to launch ART Solutions with its prior approvals

Indian News       Feb 02, 2020

 Hyderabad:  Regulator IRDAI has asked the re/insurers to take its prior approvals for any re-insurance arrangement which do not have pure risk transfer such as Capital Gearing Treaty, Alternate Risk Transfer(ART) Solution, Financial Re-insurance, non-traditional structured re-insurance solution or any other term.   ``In case, the...

European insurers balk at EU raising capital requirements due to Cyber, Climate Risks

International News       Jan 30, 2020

  Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.   However the European insurance...

Epidemics and equities: What the coronavirous means for markets

International News       Jan 26, 2020

  A rapidly spreading viral outbreak is disrupting travel and business in China, which took unprecedented steps to lock down cities with a combined 40 million people around the epicenter in Wuhan to try to slow its progress.   For global corporations, Wuhan is an important hub....

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...