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Indian Accounting Standards (Ind AS): IRDAI issues exposure draft,to implement new accounting system for industry from Apr 1
The proposed amendments aim to promote greater consistency,...
SC fastens liability of paying penalty on employer for delay in depositing compensation
"The perusal of the statement of objects of the said legislation...
India urges global support for small farmers amid climate change, price challenges
"We cannot leave smallholders to fight these challenges alone. They need our policy support," Agriculture Minister Shivraj Singh Chouhan said, describing agriculture as not merely an economic activity but a source of "livelihood, food, and dignity" for millions New...
Govt plans to ease nuclear liability laws to attract foreign firms, sources say
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents. The draft law also proposes a lower liability cap on small reactor operators at...
US cyber insurance premium shrinking to continue: Fitch
The cyber insurance line was profitable for 2024, but direct written premiums fell for the second straight year due to declining rates and fewer policies in force U.S. cyber insurance renewal premium rates have fallen YoY for the last three quarters and are...
CCI clears Patanjali 5 other entities’ proposal to acquire 98% stake in Magma Gen Insurance
Following the CCI approval, Patanjali Ayurved will assume the role of Magma General Insurance's promoter entity. This will further diversify Patanjali's portfolio, which currently focuses on healthcare and FMCG. New Delhi: The Competition Commission of India (CCI) has...
Financial Preparedness: Health Insurance gains ground
Indians continue to favor traditional financial investments such as gold, fixed deposits, insurance-linked savings schemes, and real estate. However, health insurance has now joined this list, finds out a survey by Policybazaar Policybazaar.com, India’s leading online...
Over 1.3 crore get insurance cover through GeM in 2024-25
“GeM remains committed to continuously enhancing its platform to provide seamless, secure and cost-effective procurement solutions. The milestone of 1.3 crore insured persons reflects the growing confidence of government organizations in leveraging GeM for their...
ICICI Lombard’s net profit slips 2% to Rs 510 crore in Q4FY 25
Sanjiv Mantri, MD &CEO, ICICI Lombard General Insurance. The insurer’s combined ratio was at 102.5 per cent in Q4 FY2025 as compared to 102.3 per cent in Q4 FY2024. Its underwriting losses have swelled up by 38 per cent year-on-year(Y-o-Y) to Rs 209 crore from Rs...
Electric vehicle registrations rise 17 pc in FY25: SIAM
Total electric vehicle (EV) registrations in the country reached 1.97 million units in FY25 against 1.68 million units in FY2023-24, posting a growth of 17 per cent New Delhi: Electric vehicle registrations in the country increased 17 per cent to 19.7 lakh units last...
Bima Sugam achieves financial closure, mops up Rs 340 crore from insurers and GIC Re
The Ministry of Finance has prohibited three PSU general insurers- Oriental Insurance Company , National Insurance Company and United India Insurance- from providing any capital to Bima Sugam as currently, they lack shareholders’ capital and they are not permitted use...
AI makes weather forecasting more cost effective and accurate
This is the first time Taiping Reinsurance is bringing high-resolution flood modeling in-house, instead of relying on coarser models developed by US risk analytics companies, said Sheldon Yu, chief executive officer at the Hong Kong-based reinsurer The weather...