Country: South Asia Page 9 / 54
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- August 13 2024
Sri Lanka central bank chief expects economic recovery to boost insurance demand: report
With the sector contributing just 0.8% to the country’s GDP and penetration rates hovering below 2% over the past decade, there is much room for further growth, according to governor Nandalal Weerasinghe.
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- August 8 2024
Nepal’s Air Dynasty helicopter crash leads to US$1.4m total loss
The chopper was insured with Sagarmatha Lumbini Insurance, which already had four helicopter losses in the country in 2023, and Nepal Reinsurance is the reinsurer involved in the latest crash, IAN understands.
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- August 7 2024
Munich Re, SBI General Insurance to lead Indian state’s parametric rainfall cover
The Nagaland State Disaster Management Authority has appointed the two as the lead reinsurer and insurer to enhance the North-Eastern Indian state's resilience against excess rainfall.
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- August 5 2024
Lockton hires Aon’s Amit Agrawal as India COO and CFO
Mumbai-based Agrawal has been Aon's chief financial officer and president since December 2018.
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- July 30 2024
India’s insurtech InsuranceDekho gets greenlight to offer reinsurance service: report
With the licence upgrade, the startup aims to use technology and data analytics to offer reinsurance services at competitive prices.
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- July 25 2024
Nepal air crash: 99.7% of estimated US$3m loss ceded out to foreign reinsurers
The hull and liability cover were provided by a Nepalese carrier Prabhu Insurance and reinsured with a London-based carrier through facultative cover, IAN understands.
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- July 23 2024
Indian and Malaysian carriers keen to transform claims and underwriting approaches
The two fast-growing markets illustrate how insurers can ride on regulatory changes and innovative approaches to navigate challenges and capitalise on opportunities.
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- July 11 2024
SBI General Insurance taps Liberty’s Udayan Joshi as chief technical & claims officer
The former president of Liberty General Insurance in Mumbai has joined the Indian insurer where he will be in charge of shaping its underwriting and reinsurance initiatives.
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- July 10 2024
India’s ACC approves appointments of executive directors at eight public sector insurance firms: report
These include appointments of top executives with tenures ranging from less than a year to four years.
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- July 8 2024
India’s general insurers pull back from state flagship crop insurance scheme in FY 2024: report
Gross premium fell 4.2% to US$3.7bn for the 12 months ended March 2024, at a time when farmers were grappling with heavy crop losses due to floods, unseasonal rains and heatwaves.
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- July 5 2024
Pickup in India M&A deals set to trim insurance rates: Gallagher
As more carriers and managing general agents enter the market, rates are falling from over 3% to 1%-2.5%, with further reductions and wider coverage expected over the next 12 months, the broker said in its new report.
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- July 5 2024
Opinion: The Indian insurance privatisation conundrum
State-led revivals have delayed privatisation of the country’s three general insurers and stalled much-needed reforms and competition that could otherwise enable Indian carriers to put their stamp on the world stage.
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- June 27 2024
India government may delay privatisation of three general insurers: report
The government will provide the state-owned carriers capital support of US$600m, and review business plans to strengthen their balance sheets.
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- June 26 2024
SBI General Insurance appoints former banker Naveen Jha as managing director and CEO
Jha was formerly deputy managing director of the insurer's parent, state-owned lender State Bank of India.
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- June 26 2024
Zurich aims to grow India headcount 40% following Kotak acquisition: report
In three years, the insurer will hire people in commercial underwriting, distribution and digital development, according to APAC chief executive Tulsi Naidu.
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- June 25 2024
HDFC Ergo appoints Anuj Tyagi as CEO
Tyagi succeeds Ritesh Kumar, who will move to the board of management of Ergo International as deputy chief operating officer from October 4.
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- June 25 2024
India to exempt reinsurance, co-insurance from GST: report
With the removal of the 18% tax, past cases where demand notices have been issued will be regularised on an “as is where is’ basis.
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- June 24 2024
InsuResilience expands India parametric rainfall cover with further premium support
In 2020, ISF co-funded the development and implementation of the excess rainfall cover for India north-eastern state of Nagaland.
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- June 20 2024
Girija Subramanian takes over as New India Assurance chairperson and managing director
She was formerly the CMD of Agriculture Insurance Company of India.
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- June 19 2024
Zurich completes acquisition of 70% stake in Kotak General Insurance
The transaction is the largest foreign investment in India’s general insurance market and the first by a foreign insurer since the FDI limit was raised to 74%, according to the global carrier.
