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Indian
Car sales kick-start year 2023 with top gear
Total domestic passenger vehicle sales were at 1,55,142 units as...
IRDAI retains reinsurance `Obligatory Cession’ at 4% for general insurers in FY2023-24
The government has notified move on Tuesday saying that the entire...
Budget-2023-24: Life insurance policies with over Rs 5 lakh aggregate premium no more tax exempt, life insurers’ shares tank
Some budgetary announcements is negative for life insurance...
Credit Suisse’s private bank stops margin loans on Adani Group’s bonds
The Swiss lender’s private banking arm has assigned a zero lending...
International
European Insurers’ Body warn about market access barriers in India, Argentina, Brazil, Indonesia and Canada
Removing these barriers is vital to reduce protection gaps and to avoid dangerous concentrations of risk in these jurisdictions. Furthermore, to avoid a build-up of climate-related risks in any one jurisdiction and to facilitate the sharing of natural catastrophe risk across (re)insurance markets, it is more important than ever that discriminatory barriers to trade and market access be removed.
Howden Australia appoints Matt Bacon as CEO
Matt, Stuart and Nick join a strong cohort of industry leaders at the firm, driving forward the ambitious growth objectives of Howden Australia, which only launched on 1st March 2021. It is focused on specialist industry and product segments such as Financial Lines, Corporate Risks, Commercial and Affinity, Workers Compensation, Group Risk and Alternative Risk Transfer Solutions.
4 major Korean insurers cut exposure to coal power
Top Korean non-life insurers DB Insurance, Hyundai Marine & Fire Insurance, Hanwha General Insurance, and Hana Insurance, which have provided nearly half of the total US$52 bn coal underwritings by Korean insurance companies — say no more insurance for both construction and operations of coal plants
New compensation offer made over Suez canal blockage
The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.The Ever Given’s Japanese owners Shoei Kisen and its insurers have disputed the claim and the ship’s detention under an Egyptian court order.
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