India
State run Indian GI insurers seek common TPA arrangement for health
State-run Indian general insurance companies are setting up a common third-party administrator to settle medical insurance claims, to trim unwieldy claims ratios and boost profitability.
Fire losses make up 50% of Indian GI claims
Fire losses accounted for over half of the claims lodged with Indian general insurance companies in 2011-12.
Top five Asian news stories
The top five Asian news stories from wwww.insuranceinsight.com over the past seven days.
India-based GI insurers see rise in premiums
General insurance companies in India have seen an 18.6% rise in premiums in the current financial year.
Ship that ran aground during cyclone had valid insurance, owner says
The oil tanker Pratibha Cauvery, which ran aground during Cyclone Nilam, was seaworthy and had valid insurance cover, according to a marine manager at Pratibha Shipping Company.
HSBC India denies reports of suspended insurance sales
Hong Kong and Shanghai Banking Corp has denied that it has stopped selling insurance in India, following media reports that the company had suspended sales after allegations of mis-selling.
Emerging markets expansion rewarded by equities analysts
Insurance equity analysts expect higher profitability from the best-performing insurers, despite difficult market conditions, and will reward those that expand into emerging markets, a global survey by Accenture found.
Cyclone Nilam makes landfall near Chennai
Tropical cyclone Nilam, the second named cyclone of the 2012 North Indian Ocean cyclone season, made landfall in the Indian state of Tamil Nadu at about 4.30pm local time on Wednesday with maximum wind speeds of 80km-90km per hour, according to…
Xchanging expands Apac footprint
Business process outsourcing provider Xchanging is to open delivery centres in China and the Philippines.
Top five Asian news stories
The top five Asian news stories on www.insuranceinsight.com over the past seven days.
Indian insurers and the international expansion challenge
Foreign expansion is touted as the way forward for Indian insurers. But, while some may look overseas for growth, establishing a business outside the country is not an option for most of India's insurers.
UK insurance group eyes Turkey and India acquisitions
UK insurance group BGL Group is to target Brazil, India and Turkey in a bid to widen its international footprint.
Spotlight on Economy and Society: Big money in micro insurance?
Eager to tap into new markets, insurers are forming new micro insurance partnerships in the far corners of the world.
Aviva's Spencer admits Lloyd's re-entry still possible
Aviva’s new chief executive of general insurance in the UK & Ireland hopes to stay in his new role for at least three to four years in a bid to bring some continuity to the business he joined 17 years ago.
Willis Q3 results hit by disposal of Indian operation and JV settlement
Willis has revealed that its third-quarter net income was hit by an $11m charge related to a settlement with a former joint venture partner in India and the related $1m loss on disposal of the India operations.
United India appoints Kharat as chairman and MD
United India Insurance Company has appointed Milind Kharat as chairman and managing director.
Indian FDI raise could drive broker M&A
India's insurance broking industry may see a rise in mergers and acquisitions if the proposed increase in the foreign direct investment limit is passed by parliament, according industry sources.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Liability insurance lines growing faster than global economy
Commercial insurance premiums in emerging markets have grown by an average of 14% a year in the past decade, two to three times faster than in developed markets.
Religare Health Insurance opens for business in India
Religare Health Insurance has launched as a standalone health insurance player in the Indian market.
Report finds opportunities for commercially viable rural livestock cover
Technological improvements and growing demand offer hope for "commercially viable and welfare-enhancing livestock insurance", despite early failures, according to a report by the International Labour Organisation and the Munich Re Foundation.
Lord Mayor of London welcomes Indian FDI decision for UK firms
Opening India's insurance sector will bring in more capital to the under-capitalised sector, according to the Lord Mayor of London.
HDI-Gerling takes 26% stake in Indian Magma ready for FDI increase
German insurance company HDI-Gerling has paid four times premium on Rs26 crore for its 26% stake in Indian firm Magma HDI General Insurance Co with a commitment of raising the holding to 49% when the government allows it.
IRDA issues new bancassurance guidelines
India's Insurance Regulatory and Development Authority published revised draft regulations on bancassurance tie-ups this week giving more flexibility to banks and insurers.