J.P. Morgan believes that insured losses originating from the...
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LIC’s Bima Sakhi Yojana records over 50,000 registrations within one month of launch
LIC Managing Director and Chief Executive Officer Siddhartha...
Lloyd’s CEO John Neal to join Aon as global Reinsurance CEO and chairman of climate solutions
John Neal Neal, after six years in Lloyd's as a CEO, will play an...
India plans e-commerce regulator, tighter controls under new policy
Even before the fillip to e-commerce provided by the coronavirus pandemic, India was seen as one of the world’s fastest growing e-commerce markets. E-commerce revenue this year is expected to reach $120 billion, triple its size in 2017, according to India Brand Equity Foundation.
Flipkart partners with Aegon Life Insurance to offer paperless life insurance policy
Bengaluru: Flipkart, and Aegon Life Insurance have joined hands to sell comprehensive insurance solutions to its customers. An instant digital policy with a sum assured of up to 10 lakhs, will be available to consumers from March 2020. With instant...
RBI asks state govts not to move deposits out of pvt banks; says money is safe
“We strongly believe that such a move can have banking and financial sector stability implications,” the RBI wrote. “We feel that apprehension on the safety of deposits in private sector banks is highly misplaced and will not be in the interest of stability of the financial system in general and the banking system in particular.”
Aon to acquire Willis Towers Watson for $30bn in an all-stock transaction, combined businesses at approx $80bn
Upon completion, the combined firm will go to market under the Aon brand, and will maintain operating headquarters in London, UK.The $30bn deal will see the combined business operate under the Aon brand led by Aon CEO Greg Case, with the transaction expected to go through in the first half of 2021.
Merger of 10 public sector banks into 4 to come into effect from Apr 1: FM
United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank; Syndicate Bank will be merged with Canara Bank; Allahabad Bank will be amalgamated with Indian Bank; and Andhra Bank and Corporation Bank will be consolidated with Union Bank of India.
Paytm launches insurance broking biz,to cross-sell insurance products through its leverage on its 16 mn merchants
Through its 100% subsidiary PIBPL, the company will now offer insurance products across four categories including two-wheeler, four-wheeler, health and life. PIBPL has already tied up with 20 of the leading insurance firms in India and would be integrating with 30 more companies over the next few weeks.Other than online initiatives, the company would be leveraging on its 16 million-strong merchant partner base to sell its insurance products all over the country.
Mega bank merger on track, says Sitharaman amid worry over April 1 deadline
“We are also conscious of extra load on them [banks] in terms of the kind of demands that I put on them. I have asked them to reach out to 400 districts, I have asked them to reach out to MSMEs, restructure their loan. So there is a lot of core banking work, which they are undertaking. I must be conscious of that also. So the merger and the decision taken by respective banks boards are all well taken. We are going as per schedule on that. There is no uncertainty on that. I am on course. There need not be speculation,” she said after unveiling EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking, and the PSB EASE Reforms Annual Report 2019-20.
Aon aligns leadership team, appoints Andersen as President
Most recently, Aon has entered a new phase of its Aon United growth strategy with the rollout of a single colleague mission called the Aon Impact Model, the scaling of its Delivering Aon United client value and sales effectiveness program, the development of the Aon Business Services platform to improve delivery of middle- and back-office client services and the formation of the firm’s New Ventures Group to drive innovation at scale and expand its addressable market.
Mega bank consolidation: Meeting April 1 deadline appears challenging
It is believed that the Prime Minister’s Office (PMO) has sought details from these lenders about their financial projections for the next three to five years. Details in respect of NPAs, capital requirement, credit growth and cost savings on account of the mergers have been asked for, officials said.
Bank accounts of over 200 NDMC employees hacked, money siphoned off
NEW DELHI : Bank accounts of more than 200 employees of New Delhi Municipal Corporation (NDMC) were allegedly hacked and money siphoned off in the first week of February, police said on Friday. Though police have received only two complaints of online fraud...