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BRIEFING - ASIA INSURANCE - JUNE 11, 2010

 

Friday, Jun 11,2010, 8:18:52 PM   Click:

An executive briefing on insurance for June 11, 2010, prepared by Asia Pulse, the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

INDIA'S ONGC EXPECTS OFFSHORE ASSETS INSURANCE PREMIUM TO RISE

NEW DELHI - Indian state-run Oil and Natural Gas Corporation (ONGC,500312) on Wednesday said it expects its insurance premium for offshore assets to rise sharply following an oil leak in the Gulf of Mexico that has been described as the worst in the US history.

"Insurance costs are going to go up exponentially around the world. We anticipate that our insurance premium next year will rise exponentially," ONGC chairman and managing director R S Sharma said on sidelines of a CII conference on Wednesday.

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