Country: South Asia Page 12 / 50
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- July 19 2023
Liberty’s Asia reorganisation will have ‘no job impacts’
The realignment from August 1 brings together all the insurer's businesses in Asia under the leadership of Phil Hobbs, president and managing director, Liberty Specialty Markets.
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- July 18 2023
Carriers prepare for claims deluge as floods hit India, Korea, Japan and China
Extreme weather, including heavy rainfall, landslides, a typhoon and heatwaves, has put (re)insurers, brokers and adjusters on high alert.
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- July 13 2023
Reliance General Insurance owners’ lenders approve Hinduja takeover bid
The deadline to file the resolution plan with the National Company Law Tribunal is July 15.
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- July 13 2023
Everest chopper crash signals turbulence for Nepal’s aviation fac market
IAN understands the helicopter crash this week that killed six people will cost reinsurers around US$2.5m and adds to a series of safety failures that will likely see prices and retentions soaring.
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- July 12 2023
WTW, Axa Climate roll out Asia’s first 4-peril parametric cover
The policy offers Sri Lankan shrimp farms protection against earthquake, typhoon, excess rainfall and heat stress.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
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- July 7 2023
Indian non-life premiums grew 16.5% for H1 2023
General insurers wrote premiums worth US$7bn till June this year as against US$5.91bn in the same period last year.
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- June 29 2023
Lack of cross-border clarity slows (re)insurers entry into India’s Gift City
Despite the regulatory push, only four carriers have so far set up in the financial hub, with most non-life players awaiting clearer regulations.
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- June 28 2023
IRDAI to kick off new risk-based supervision in July
IRDAI had tied up with Toronto Centre (TC), a not-for-profit organisation, to develop RBS framework guidelines.
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- June 23 2023
WTW India appoints Anand Kolhe as exec vice-president, facultative reinsurance
Prior to this move, he was associate director with Gallagher’s Indian insurance brokerage arm Edelweiss Gallagher Insurance Brokers.
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- June 20 2023
Indian government tells carriers to hold third-party motor rates: report
New premium rates for compulsory motor covers will take effect from August, with reductions in certain categories.
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- June 20 2023
Indian insurers count cost of ‘widespread’ Cyclone Biparjoy damage
IAN understands there is damage to property and goods at industrial zones, processing plants and ports, as IRDAI urges carriers to 'fast-track' smaller claims.
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- June 15 2023
India proposes sweeping changes to insurance rules: report
Several amendments around capital and broker registration have been proposed by the regulator to improve insurance penetration.
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- June 14 2023
Zurich eyes US$400m stake in India’s Kotak General Insurance: report
The Swiss insurer has expressed interest in a 49% or 51% stake in the Kotak Mahindra Bank-owned general insurer, according to Reuters.
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- June 14 2023
‘Very severe’ Cyclone Biparjoy to hit India, Pakistan
The powerful storm is intensifying and has triggered large-scale evacuations and shuttered oil and container ports.
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- June 14 2023
IRDAI caps SBI group’s total stake in ICICI Lombard at 10%
The state-owned financial services group, which owns SBI General Insurance, has a 4.62% interest in the ICICI-owned general insurer through its mutual fund arm.
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- June 13 2023
India’s central bank opens up bill discounting platform to insurers
Trade credit insurers can now provide cover to financiers on the Reserve Bank of India-run factoring platform, TReDS.
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- June 8 2023
GIC Re set to appoint Ramaswamy Narayanan as chairman
The government will also appoint United India Insurance general manager Rajeswari Singh as chairman and managing director of National Insurance.
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- June 8 2023
Sri Lankan insurers’ profits to be hit by inflation, currency devaluation: Fitch
Underwriting profit for P&C insurers to be squeezed by rising motor spare-part costs, while sparse foreign-currency liquidity is hampering firms.
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- June 7 2023
Guy Carpenter hires ex-Scor CEO to head EMEA, India and global capital solutions
London-based Laurent Rousseau will report to the reinsurance broker's president and CEO Dean Klisura.
