Among the key findings, nearly 75% of organizations globally...
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Indian Insurance Industry-2025: A Year of Consolidation, Customer Focus and Sustainable Growth
Consumers increasingly opted for higher sum insured policies,...
Insurance Amendment Bill,2025:Balancing innovation,capital inflows and policyholder protection
Nirmala Sitharaman,Finance minister Taken together,the Bill, that...
Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group, said: “The threat of cyberattacks poses a significant risk to both societal and economic stability. As insurers, we can offer some degree of protection, but we must acknowledge that large-scale,...
IRDAI approves take over of Aditya Birla Insurance Brokers by Edme
Rs 455 crore deal had got stuck for over 18 months as the IRDA had refused give its approvals in the absence of certain key information about the transaction Mumbai: Allowing the entry of private equities(PEs) in the insurance broking sector, after almost 18 months...
Prasun Sikdar set to become the first CEO of Bima Sugam
Prasun Sikdar,MD & CEO designate, Bima Sugam India Federation Sources point out that a formal decision to appoint Sikdar, who is already a board member of the Bima Sugam India Federation, as the CEO of the company has been taken by the IRDAI in consultation with...
Chinese firm Tencent sells 2.1% in PB Fintech for Rs 1,668 crore; SBI MF, SocGen pick up stake
The shares were disposed of at an average price of Rs 1,719.75 apiece, taking the transaction value to Rs 1,668.15 crore. After the share sale, Tencent's sharehdoling in PB Fintech has declined to 2.13 per cent from 4.26 per cent New Delhi: Chinese conglomerate...
TPA Consolidation: Medi Assist to acquire Fairfax-backed Paramount Health Services & Insurance TPA for Rs 311 cr
Paramount TPA is owned by Nayan Shah family and Fairfax Asia, which had picked up 51 % in the company in 2020 With the acquisition of Paramount TPA, Medi Assist TPA market share will grow to 36.6% for the group segment and 23.6% of the health insurance industry, by...
LIC agents earn Rs 20,446/month in Andaman & Nicobar, highest in the country
LIC has 13,90,920 agents across the country. Among the larger states, Uttar Pradesh had the maximum number of LIC agents at over 1.84 lakh with an average monthly income of Rs 11,887. Maharashtra had more than 1.61 lakh LIC agents with an average monthly income of Rs...
Hiscox unveils GenAI-enhanced lead underwriting platform
By combining Hiscox AI Laboratories with Google Cloud’s generative AI, Hiscox now has the ability to remove manual elements of the underwriting process. Risks that are in scope are assessed using Google Cloud’s Gemini large language model, and the process generates an...
TikTok’s practices endangered children’s safety, US alleges in lawsuit
"TikTok knowingly and repeatedly violated kids' privacy, threatening the safety of millions of children across the country," said Lina Khan, the head of the Federal Trade Commission, which joined the Justice Department in suing the short video behemoth. New York: The...
Tesla registers insurance brokerage in China
By selling insurance directly to consumers, Tesla could potentially offer lower-cost EV insurance products, which are usually more expensive than those for gasoline cars Beijing: Tesla registered an insurance broking firm in China at the end of July, based on a...
Japanese population fell at the fastest clip in 15 yrs, Births hit a record low, deaths a record high
A record 260 companies went bankrupt in 2023 as they couldn’t secure enough workers to maintain their operations, according to a report by Teikoku Databank Japan’s tax and insurance premium revenue is projected to decrease by about 10% by 2040, according to a 2018...