"Around 40 per cent of the fire has now been brought under control....
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EU proposes ban on Nord Stream gas pipeline, reduction of oil price cap
EU firms are involved in an array of service provision for Russia...
Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident...
Jan1Renewals: Reinsurers hike rates on key business lines by as much as 200%, exclude Russia and Ukraine
Aviation reinsurance rates, heavily impacted by hundreds of stranded aircraft in Russia, rose by as much as 200%, Gallagher Re said. “The sector is experiencing its most acute, cyclical price increases since the 2001-2006 period, if not before,” said David Flandro,...
NCLT puts Hinduja’s RCap higher offer on hold, next hearing on Jan 12
The interim stay was provided after Torrent Group filed an interlocutory application with NCLT on Monday seeking its direction to RCap’s administrator not to accept Hinduja’s revised bids that were submitted a day after the e-auctions ended Earlier, Ahmedabad-based...
IRDAI allows auto-renewal of eligible CBRs by insurers
To qualify for auto-renewal of a CBR, the insurer will ensure that credit rating of the CBR should not be less than ‘Standard & Poor's A- or equivalent. The latest credit rating of the CBR should not be prior to 12 months from the date of application for...
Why China’s latest Covid wave has sparked global panic
Beijing: China is experiencing a huge Covid-19 surge after years of hardline containment restrictions were dismantled last month. A growing number of countries are worried about a lack of data and transparency surrounding China's outbreak. Here is why it is sparking...
Second Covid booster unwarranted : Govt sources
"No discussion has been started even in the Immunisation panel National Technical Advisory Group on Immunisation (NTAGI) regarding the second booster dose. Our first priority is to complete the first booster drive in the country," said another official source to ANI....
Jan1 renewals: Rapid changes in market conditions prompt tense and late but largely completed renewals: Gallagher Re
James Kent, Global CEO, Gallagher Re, said, “The renewal process has been grueling for participants, many of whom have not faced such a rapid change in market conditions across a single renewal season. Political violence renewals have been especially demanding in...
`Bima Sugam is a big game changer for the end user and companies will also get the advantage”
In an interview with IANS, Anil Kumar Aggarwal, Managing Director & CEO, Shriram General Insurance Company, said the year 2022 has been one of the best years for the Indian general insurance industry. As per the trends, the industry is expected to double its...
Japan insurers to maintain cover for LNG vessels in Russian waters
The insurance companies negotiated with reinsurers to replace part of the coverage and they are expected to enable continued insurance, Nikkei reported on Thursday After renegotiating with UK reinsurers, a total of 30 billion yen ($224 million) is expected to be...
Lenders to meet on Tuesday to discuss bids for Reliance Capital acquisition
In an e-auction conducted under the Challenge Mechanism, Torrent had presented a resolution plan for Reliance Capital Ltd (RCL) with a net present value of Rs 8,640 crore, while Hinduja's offer was Rs 8,110 crore After the e-auction was over, sources said, Hinduja...
Jan 04 strike over restructuring deferred as management agrees to talk:PSU gen insurance unions
On Monday, under the banner of Joint Forum of Trade Unions (JFTU),the unions participated in conciliation meeting with the management under the guidance of chief labour commissioner(CLC). Various arguments took place in the meeting from both sides and finally CLC...