The National Association of Mutual Insurance Companies is airing concerns over what the group calls a “duplicative data call” issued by the Federal Insurance Office on climate change. The concerns are being expressed by NAMIC as part of a bipartisan …
An explosion at a newly commissioned unit of a coal-fired power plant in northern India killed 32 people, while about 80 are still recovering from injuries in one of the nation’s worst industrial disasters in recent years. Flue gases and …
The Indian government raised about 98 billion rupees ($1.5 billion) on Friday by selling some of its shares in General Insurance Corp of India (GIC Re), the nation’s top reinsurer, in the country’s biggest listing in seven years. [Editor’s note: …
Two toddlers were among 14 people killed in Mumbai after floods caused by heavy monsoon rains destroyed homes and disrupted traffic in India’s financial capital, police said, but lighter-than-feared rain on Wednesday helped relief efforts. More than 1,200 people have …
Canada’s Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees ($3.15 billion), the Indian company said on Saturday. Red …
Gen Re has received approval from the Insurance Regulation and Development Authority of India (IRDAI) to open a branch in Mumbai ( known as R3 authorization). The branch structure will now allow Gen Re to deliver underwriting and risk management …
Aon plc announced it has completed its acquisition of the international health and benefits brokerage portfolio of Mayfair Group, a solutions provider to Indian multinational companies. Terms of the transaction were not disclosed. Aon now will assume responsibility for all …
Lloyd’s, the specialist insurance and reinsurance market, announced it has begun to operate in India with MS Amlin as the first Lloyd’s business to join the branch and begin underwriting. Lloyd’s India will act as a domestic reinsurance branch of …
XL Catlin has opened a shared services office, covering three floors at DLF World Tech Park in Gurgaon, India. The new office will provide “vital underwriting support, claims administration, actuarial services, finance and accounting for XL Catlin’s teams across the …
Swiss Re has received the approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch license, Swiss Re will be able to operate in India and offer both non-life …
