The institute said the fallout could stretch beyond underwriting, with currency swings, weaker risk assets and inflation concerns adding pressure to insurers’ balance sheets.
Nadeem Mokashi appointed head of claims, Jyoti Krishnan as head of liability & specialty, Mayank Sharma as national head of liability and Sunny Goel as strategic business leader.
Government officials have reportedly begun talks with US officials to secure political risk insurance and financial guarantees for vessels carrying oil and gas from the Middle East.
Ping An’s emergency response unit issued 59 risk alerts and 23 analysis reports on Middle East tensions, responding to 52 customer enquiries since January.
Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, and Sompo Japan are considering broadening their high-risk zones amid the escalating Middle East conflict.
