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DOMESTIC REINSURANCE MARKET
Bajaj Finserv to rope in ex-GIC re chief for reinsurance ventureBajaj Finserv is preparing to enter the reinsurance sector with the appointment of N Ramaswamy Narayanan. The former chairman of GIC Re bri...- BRICS adopts New Delhi Declaration: Inside the 140-point document on Global South's ambitionsBRICS leaders adopted the New Delhi Declaration at the 18th summit, reaffirming their commitment to cooperation, multilateralism and a more...
- Nepal floods could cost insurers over $130 mln even before death, injury claimsNepal's recent flood may cause over 20 billion Nepali rupees in insured losses. Hydropower projects sustained the most significant damage f...
- Nepal floods could cost insurers over $130 million even before death, injury claimsNepal’s devastating floods could trigger more than 20 billion Nepali rupees ($132.3 million) in commercial insurance losses, with hydropowe...
- Manufacture in India, build for the world: Sitharaman urges global investorsIn a strategic appeal, Finance Minister Nirmala Sitharaman encouraged global investors to set up manufacturing and innovation centers in In...
- India’s Reinsurance: Hidden tax or treaty? Best way to expand tax base is to redraw map of where business is doneIndian insurers transfer risk to global reinsurers, impacting tax treaties. These international agreements often prevent India from taxing ...
- Corporate cover rates decline amid ample capacityInsurance rates for fire, cyber, professional indemnity and directors’ liability fell sharply in the June quarter as abundant capacity inte...
- Climate tech startup InRisk raises $27 million from Bessemer, othersClimate tech startup InRisk Labs has raised $27 million in a round co-led by Bessemer Venture Partners and Sameer Brij Verma’s Northpoint C...
- IN-SPACe re-entry rules expose insurance crunchThe guidelines, issued by the Indian National Space Promotion and Authorisation Centre (IN-SPACe) on July 23, cover planned re-entry missio...
- State insurers quote low premiums to win NPCIL nuke insurance coverNuclear Power Corp of India (NPCIL) had budgeted Rs 30.13 crore, including taxes, for insuring Tarapur units 3 and 4 under a one-year prope...
- 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...
- 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.
- 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...
- 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...
- 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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