Government Plans Cooperative Life Insurance Company
The government will set up a cooperative life insurance company as part of a broader effort to expand the cooperative sector into new areas of financial services, Union Home and…
Jio Financial Services, Allianz to Form 50:50 Insurance JV
Jio Financial Services Limited (JFSL) and Allianz Group have entered into a binding agreement to establish a 50:50 joint venture for general and health insurance in India, marking a significant…
Consilium Secures Singapore Broking Licence, Appoints Ben Compton
Global specialty (re)insurance broker Consilium has secured a broking licence from the Monetary Authority of Singapore (MAS), strengthening its ability to serve clients across the Asia-Pacific region. The company has…
Aon Expands Data Centre Insurance Capacity to $5 Billion
Aon has expanded the capacity of its Data Center Lifecycle Insurance Program (DCLP) to $5 billion, responding to rapidly growing investment in artificial intelligence, cloud computing and hyperscale data centres…
Insurers to Retain Final Say on Health Claims in India
The Government has clarified that health insurance claims in India will continue to be decided by insurers in accordance with the terms and conditions of the insurance policy, and there…
Bharat Maritime Insurance Pool Gets First War-Risk Claim
India’s newly launched Bharat Maritime Insurance Pool (BMI Pool) has received its first claim after a vessel covered under the arrangement was reportedly damaged in a drone attack in the…
IRDAI Warns Insurers Against 99% Fire Insurance Discounts
The Insurance Regulatory and Development Authority of India (IRDAI) has cautioned general insurers against offering extreme discounts of up to 99% on fire insurance policies, warning that aggressive price-cutting could…
Bain Capital Eyes 25% Stake in IndusInd General Insurance
US-based private equity major Bain Capital is in advanced discussions to acquire up to a 25% stake in IndusInd General Insurance, in a transaction that could value the insurer at…
Insurers to Retain Final Say on Health Claims in India
Health insurance claims in India will continue to be assessed by insurers according to policy terms, with the government ruling out any proposal to make the treating healthcare provider’s opinion…
Japan FSA Highlights How Insurers and Banks Manage Storm and Flood Risks
The Financial Services Agency (FSA) of Japan has highlighted the approaches adopted by insurers and banks to manage increasing risks from storms and floods, reflecting the growing importance of climate-related…