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DOMESTIC REINSURANCE MARKET
Stocks in news: IFCI, Tata Motors, General Insurance Corp, Corona Remedies, HFCLMarkets extended their winning streak for the fourth consecutive session, driven by favorable global cues and sustained sector-wide buying....- Extreme weather to drive $20 trillion in global spendingAnalysts note that companies involved in environmental adaptation and mitigation have already outperformed the broader market significantly.
- Irdai keeps FY27 cession rate at 4%, backs GIC Re roleIrdai has maintained the mandatory 4% cession rate for FY27, directing general insurers to place this share with GIC Re. This decision aims...
- West Asia war: Marine war-risk insurance tightens as reinsurers adopt no-market stanceWest Asia war: Reinsurers are pulling back marine war-risk cover amid heightened geopolitical risks after failed US-Iran talks, prompting I...
- Corp insurance premiums fall up to 80% this seasonCorporate insurance premiums are falling sharply this renewal season. Property and commercial lines are witnessing steep declines. Intense ...
- Jio-Allianz, Fairfax-backed Valueattics Re set to shake up India’s Rs 50,000-cr reinsurance marketIndia's ₹50,000-crore reinsurance sector is set for disruption with the entry of two new domestic players—Jio-Allianz, a joint venture betw...
- GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 croreGIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564...
- IRDAI okays amendments to reinsurance normsIRDAI has simplified the format of the reinsurance program and brought in tandem the regulations for Indian insurers, Indian reinsurers, Fo...
- Term cover costs set to go up as reinsurers hike life ratesAccording to insurance distributors, some companies have indicated that rates will go up from April 2021, when the new reinsurance contract...
- Prem Watsa’s Digit Insurance acquires ITI ReinsuranceThe holding company Digit Info Works will hold 100% of the reinsurance company.
- ITI Reinsurance gets final Irdai nod to begin operationsLast week, Irdai had granted R3 approvals to five global reinsurers to set up their branches in the country.
- Lloyd’s of London gets R1 license, to start operations in 2017The marketplace expects syndicates to slowly join their platform as the regulator has given first right of refusal to Indian reinsurer Gene...
- GIC Re to have a syndicate in Lloyd's marketCountry's sole reinsurer General Insurance Corporation of India (GIC Re) is all set to have a syndicate in London-based Lloyd's market.
- In double bonanza for airlines, insurance cost too fallsAIG, which is the largest global aviation insurer with a 15 per cent market share, leads in providing reinsurance business to Air India and...
- 'Some PSUs not allowing GIC to compete for A/Cs on fair terms'On the other hand, general insurers argue that GIC Re doesn't have enough capacity to provide reinsurance cover to a large corporate on its...
- Reinsurance rates up, GIC reduces exposureIndian companies will have to pay more for renewing their insurance policies as reinsurance companies have raised premium rates by up to 15...
- 10% of global reinsurers close doors on Indian cosNearly 10% of the world’s reinsurance markets have closed down for Indian insurers following the government’s decision to tax premium paid ...
- Newcomers scramble in, give reinsurers run for premiumFirming up of reinsurance rates in India by regular players such as General Insurance Company (GIC), Munich Re and Swiss Re led to the entr...
- Global reinsurers’ capitalisation floor set at Rs 5,000 croreInternational reinsurers, looking to start operations in India, may soon be able to set up branches with a minimum capitalisation of Rs 5,0...
- Reinsurance rates yet to feel subprime heatBut insurers may have to pay more for passing on risks if it gets worse.
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