Country: India Page 14 / 52
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- April 10 2024
India’s FY2024 non-life sector GWP up 13% as motor, health buoy growth
Gross direct premiums for all Indian non-life insurers in 2023-24 increased to US$34.8bn, according to the latest data released by the General Insurance Council of India.
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- April 8 2024
South Africa’s Sanlam raises stake in Indian insurance JVs to over 50%
Following the deal, Sanlam's areholding in Shriram General Insurance will increast to 50.99% and in Shriram Life Insurance to 54.40%.
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- April 5 2024
Allianz Partners becomes first foreign reinsurer to set up in India’s GIFT City
The reinsurance branch in the special economic zone will focus on the non-life sector catering to B2B, reinsurance, travel, mobile devices and digital risk sectors.
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- April 4 2024
India freezes state-owned insurers’ senior executive hires till election ends: report
India elections, slated to on April 26, will stall several appointments including those by the regulator IRDAI, and state-owned GIC Re, according to a local news report.
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- April 3 2024
Aon completes acquisition of Global Insurance Brokers in India
GIB is now wholly owned by the global broker and will formally rebrand and intergrate with the group following the finalisation of the deal later this year.
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- April 3 2024
APAC markets see stable renewals on ample capacity, reinsurer appetite: brokers
The supply-demand dynamics have shifted in favour of reinsurance buyers in the April renewals, leading to better pricing and easing of market conditions across Japan, India, Korea, the Philippines and China.
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- March 27 2024
WTW taps Marsh for India credit insurance leader
Mumbai-based Rishabh Karnik will help develop the broker's financial solutions offerings.
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- March 25 2024
IRDAI regulatory revamp ushers in new insurance e-commerce platform
Indian insurance regulator consolidates 34 regulations into six as it introduces two new rules to enhance “clarity and coherence”. One notable addition is a digital public infrastructure to connect all industry stakeholders.
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- March 25 2024
Lockton India continues raid on Aditya Birla Insurance Brokers with three key hires
The appointments follow six other senior hires since Lockton entered the Indian market in January this year.
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- March 19 2024
Foreign investment in India’s insurance sector tops US$6.5bn since liberalisation in 2015
The number of insurance players in the country rose to 70 from 53 nine years ago, when the government relaxed the cap on international investment for insurers and intermediaries.
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- March 19 2024
Swiss Re elevates Amitabha Ray as India CEO
Mumbai-based Ray takes over from Hadi Riachi, who is moving to Swiss Re CorSo as head of global underwriting centre.
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- March 19 2024
Lockton expands India leadership team with three Aditya Birla Insurance Brokers hires
Mukul Bhatia has been appointed managing director, Irfan Shirwani has joined as managing director of placement and claims, and Prasanna Hunur has started as senior director of sales.
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- March 18 2024
India 1.4 renewals likely to be smooth but structures remain a sticking point
Proportional capacity is drying up, but reinsurers remain open to quota shares for select cedents and pushing for whole account XL protections.
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- March 14 2024
Cyber, business interruption top risks for India: Aon
66.7% of respondent organisations in the country suffered a loss due to property damage and 50% were affected by supply chain disruptions.
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- March 13 2024
Lockton expands India team with two senior hires
Punit Pancholi has been appointed chief risk and compliance officer and Dhananjay Acharya will take charge as CIO for the broker’s newly set up operations in Mumbai.
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- March 4 2024
Aon appoints Asia CFO Rishi Mehra as head of India to consolidate capabilities
Mehra, who will relocate to Mumbai, will report to APAC chief executive Anne Corona and work closely with the broking and talent consulting CEOs as part of the "Aon United" strategy.
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- March 4 2024
Fairfax-backed Go Digit gets Indian market regulator’s approval for IPO: report
The digital insurer is targeting a May public offering, which will be a mix of US$150m in new shares and a secondary sale of 109m shares by founding shareholders.
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- February 27 2024
Indian regulator approves Aon’s acquisition of Global Insurance Brokers
Aon and GIB will continue to operate independently until the transaction is completed in the coming months.
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- February 26 2024
Zurich to buy Kotak General Insurance’s 70% stake upfront in US$671m amended deal
The Swiss carrier had originally announced a staggered purchase – a 51% stake in the Indian insurer first and an additional 19% within three years.
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- February 26 2024
IRDAI retains 4% obligatory cession for upcoming renewals
The cession, a percentage of the sum insured on all general insurance policies, has to be placed with the sole India reinsurer, the state-owned GIC Re, for FY 2025 starting April 1 this year.
