Country: South Asia Page 15 / 53
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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.
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- May 31 2023
AIG exits Pakistan, sells business to TPL Insurance
The scheme of arrangement has a December 31 deadline for transaction completion.
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- May 29 2023
IRDAI proposes perpetual licence for brokers: report
The regulator plans to remove the three-year renewal requirement for intermediary licences as part of recommended amendments to Insurance Act.
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- May 29 2023
GIC Re’s COR improves to 109.3% for FY 2022
Overall profit more than tripled despite significant underwriting losses, while GWP declined.
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- May 24 2023
Reliance General Insurance promotes Namita Rohra to liability, credit and specialty head
Mumbai-based Namita Rohra was earlier segment head liability for cyber and specialty lines in Reliance General.
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- May 20 2023
IRDAI relaxes surety bond rules
The regulator has reduced the solvency requirement and removed the 30% exposure ceiling.
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- May 11 2023
Indian finance ministry sets riders for fresh capital in three state-owned P&C carriers: report
National, Oriental and United India will need focus on the bottom line and improve costs, digitalisation and products.
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- May 9 2023
Travel company EaseMyTrip plans to enter Indian non-life business
The board met on May 8 to approve plans to set up a wholly owned subsidiary to start a GI arm and consider overseas acquisitions.
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- May 9 2023
Allianz Re | Securing India’s energy transition
Innovation and expertise are key to (re)insuring the country’s ambitious transition-to-renewables story.
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- May 9 2023
JB Boda eyeing parametrics, ILS to strengthen India’s nat cat capabilities
The broker, which has an international footprint, sees opportunities in helping domestic carriers, who are poor at managing climate risk.
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- May 3 2023
Sri Lanka Insurance to hive off general insurance arm as it readies for sale: report
The state-owned insurer's portfolio includes more than one million general and life policyholders each, with a combined GWP of US$131m.
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- May 3 2023
HDFC Ergo GI elevates Anuj Tyagi to joint managing director
A 14-year veteran with HDFC Ergo, Tyagi was most recently deputy MD.
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- April 28 2023
Hinduja Group offers to inject US$43m into India’s Reliance General Insurance
The offer is part of the group's takeover bid for troubled financial services group Reliance Capital, which owns 100% of the general insurer.
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- April 27 2023
Licence of Sri Lanka’s Co-operative Insurance suspended, Fitch downgrades again
The downgrade to BB from BBB comes after a governance breach saw all new business stopped until May 2.
