Country: India Page 6 / 45
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- May 14 2024
Indian (re)insurance broker IIRM expands to Kenya
The parent’s tie up with Lloyds syndicate Amwins Global Risks will help the group tap into the global specialty insurance market, according to a local report.
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- May 13 2024
Reliance General Insurance owner’s acquisition approved by regulator: report
IRDAI has approved the Hinduja Group‘s acquisition of Reliance Capital's 3 insurance units before the May 27 deadline but under conditions on share transfers and encumbering.
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- May 10 2024
Fairfax-backed Go Digit’s downsized IPO set for May 15 launch
The listing on Indian stock exchanges could raise up to US$313m after the digital insurer reduced the new shares on offer and nearly halved the size of existing shares sale.
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- May 7 2024
CelsiusPro launches parametric climate risk insurance for Indian women workers
The index-based product offered in partnership with Howden Insurance Brokers and Go Digit, provides financial protection against extreme heatwaves for women working in India's informal sectors.
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- May 7 2024
Opinion: India’s marine insurance gambit poses questions of the West’s Russia sanctions
Indian regulator's approval to three new Russian insurers backed by the sanctioned Russian National Reinsurance points to tectonic shifts in the industry.
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- May 2 2024
IRDAI’s set to approve Hinduja‘s acquisition of Reliance Capital’s insurance units: report
The regulator's approval is key to the conclusion of Reliance Capital's ongoing bankruptcy proceedings within the time-frame prescribed by a local tribunal.
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- April 26 2024
India approves three new Russian marine insurers
New carriers, Alfastrakhovanie, Sogaz, VSK, and Ingrosstrakh, all backed by Russian National Reinsurance, have been allowed to provide cover to Indian shipments.
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- April 23 2024
Asia warming faster than global average, hit by 79 weather-related disasters in 2023: WMO
Floods and storms are causing the highest number of reported casualties and economic losses, whilst the impact of heatwaves became more severe, according to a report from the UN climate agency.
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- April 22 2024
CCR Re’s Africa and Asia FY 2023 GWP increases by 27%
The reinsurer saw moderate claims in Asia throughout the year, not affected by big cat events such as typhoons Doksuri in Beijing and Saola in Hong Kong and saw few individual claims in Korea.
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- April 18 2024
ICICI Lombard’s FY 2024 underwriting losses up 10% at US$1.2bn, COR dips to 102.2%
The Indian general insurer's GWP grew by 17.5% US$3bn and net profit was up 11% year-on-year.
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- April 17 2024
SBI General Insurance appoints Nainoor Desai to head corporate business
Mumbai-based Desai will focus on leading and driving business for the carrier and succeed Meena Subramanian, who will be retiring this year.
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- April 17 2024
India mulls GST exemption for reinsurance: report
The GST Council is likely to issue a clarification that reinsurance is not a supply of service, which will ease the tax burden.
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- April 16 2024
Markel appoints Priyanka Gautama as chief underwriting officer for India
Mumbai-based Gautama will focus on developing a new casualty portfolio for the Lloyd's carrier in India.
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- April 16 2024
IRDAI’s onshoring push may squeeze out cross-border reinsurers
The Indian regulator’s plan to introduce collateral will raise costs, increase compliance and administrative burdens.
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- April 15 2024
Aon appoints Shailendra Sapra as CEO of India reinsurance solutions
Sapra, who has been with the broker since 2010, will be based in Mumbai and report to APAC reinsurance CEO George Attard.
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- April 15 2024
India’s GIC Re to revive stake sale post-elections: report
Chairman of the state-owned reinsurer dismissed the possibility of a privatisation in the "immediate future". The priority is to improve its credit ratings to grow its international business.
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- April 15 2024
IRDAI allows carriers to customise commercial policy wordings: reports
Non-life insurers were previously restricted to offering standard base policy wordings for motor, property, and engineering insurance cover based on which they could provide add-on covers/riders.
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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.
