Country: South Asia Page 11 / 51
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- December 4 2023
Southern India braces for Cyclone Michaung
The south-eastern city of Chennai has been hit by heavy rainfall and flooding, reminiscent of a 2015 flooding that caused US$755m in insured losses.
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- December 4 2023
Lower regulatory costs, robust economy drive Indian non-life sector: AM Best
The rating agency revised outlook on India’s non-life insurance segment to stable from negative
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- November 23 2023
GIC Re outlook upgraded to positive over strong capitalisation: AM Best
The rating agency has affirmed the state-owned reinsurer's financial strength rating at B++ (good) and national scale rating at aaa.IN (exceptional).
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- November 22 2023
Markel set to build out marine cargo, general casualty lines in Asia
The specialty (re)insurer's underwriting leaders discuss the carrier's regional growth plans, Australian ambitions and India outlook.
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- November 10 2023
GIC Re reports 9% dip in H1 earnings, COR deteriorates to 117%
The state-owned reinsurer reported a premium income of US$23.5bn and a profit after tax of US$2.85bn.
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- November 8 2023
Clarion call for more granular data to address accumulation risk in Asean, South Asia
Aggregation of data lags behind growing risks in the region as manufacturing shifts to fast-growing economies like India and Vietnam.
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- November 6 2023
Western Nepal’s earthquake casualty losses to exceed US$2.3m: sources
Although the earthquake happened in a remote district with low presence of carriers, the liability has raised up to around US$150,000, potentially retained by local (re)insurers, IAN understands.
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- November 2 2023
Zurich enters India with US$488m deal for majority stake of Kotak General Insurance
The 51% stake will increase by 19% "over time" in a market that Zurich APAC CEO Tulsi Naidu describes as "one of the world's most important".
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- October 23 2023
New India Assurance’s underwriting results remain constrained despite improving performance: AM Best
The rating agency has affirmed a financial strength rating of B++ (Good) for the Indian state-backed general insurer.
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- October 23 2023
Gallagher India hires Anirudh Singh specialty and facultative head
He was most recently chief underwriting officer for Markel Services India, a Lloyd's Syndicate in India.
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- October 20 2023
Gallagher Re hires Priyanka Bhalla as associate director for India
Mumbai-based Bhalla joins from domestic broking company Hero Insurance Broking, where she was vice-president, reinsurance.
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- October 19 2023
India dam collapse claims’ burden on carriers may be lower due to glacial lake outburst rider
Early reports by the National Disaster Management Agency say the event was likely a GLOF, for which claims payable are capped at US$60m per any one accident.
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- October 16 2023
IRDAI restrains bidder to pledge Reliance General shares for parent sale: report
RBI-appointed administrator of debt-ridden R-Cap has written to Hinduja Group firm to submit a fresh application along with the source of funds and the business plan.
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- October 11 2023
Axa completes India exit with sale of stake in life carrier to local partner
Indian JV partner Bharti Group is 'engaging with other strategic and financial investors to partner and or merge the business'.
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- October 11 2023
Indian insurtech InsuranceDekho raises US$60m in Series B funding round
The New Delhi-based firm has direct integration with 46 insurers across India offering more than 380 insurance products including 175 for life and health.
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- October 10 2023
India may see rebound in insolvencies despite GDP growth set to outpace regional peers: Allianz Trade
The increase, about 36% this year, is largely driven by the catch-up effect due to the long suspension of courts during the Covid years, according to the trade credit specialist.
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- October 10 2023
Himalayan Everest Insurance in climate product pact with The Rockefeller Foundation
The Nepalese P&C player will design and launch "comprehensive" and "affordable" microinsurance with payouts linked to "climate shocks".
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- October 9 2023
Exclusive: (Re)insurers staring at US$2bn+ losses from India’s Himalayan dam collapse, flood damage
An IFFCO Tokio-led panel of eight insurers have a US$1.37bn property damage and BI policy for the 1,200MW Teesta-III project that was completely damaged in a flash flood, show documents reviewed by IAN.
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- October 5 2023
Crop insurance high on agenda for India’s SBI General Insurance
The private equity-backed insurer is prioritising semi-urban and rural markets and remains open to acquisitions and strategic alliances.
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- October 4 2023
Aon to acquire former Indian JV partner Global Insurance Brokers
Upon completion, the broker will transition to Aon’s brand and operating model, under the leadership of Jon Pipe.
