That brought SMBC’s total recoveries from claims following the...
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Japan’s 3 major casualty insurers plan to sell $9.5 billion of cross-held shares
Eliminating cross shareholdings is seen by many as a yardstick for...
Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost...
Shriram Financial Ventures to be Shriram Group’s holding company
Following the merger, Shriram Financial Ventures (Chennai) Pvt Ltd, which was the holding company of Shriram Capital Ltd, would now become the promoter and holding company of the financial services and insurance businesses of the group Chennai: Shriram Capital Ltd,...
IRDAI proposes single management expense limit for insurers
It also proposed that there should be no variable pay to Managing Director (MD), Chief Executive Officer (CEO), Whole-Time Directors (WTD) and Key Management Persons (KMPs) for the financial year in which the actual expenses exceed the projected expenses by more than...
AP focuses on ‘climate change governance’, sets up special cell
Special Chief Secretary (EFST Department) Neerabh Kumar Prasad said coastal zone disasters (cyclones), drought, adverse human health effects and depleting water resources were some of the challenges AP faced Vijayawada: The Andhra Pradesh government has created an...
Four special benches in SC to hear accident claim, criminal, tax,land acquisition cases from next week
“From next week, there would be special benches for criminal appeals, direct and indirect tax matters, land acquisition matters and motor accidents claims tribunal matters,” the CJI said New Delhi: Four special benches will start functioning in the Supreme Court from...
Global marine industry: Most expensive claims caused by fire and explosion incidents
;The combined value of the global merchant fleet increased 26% to $1.2trn in 2021 while the average value of container shipments has also been rising with more high-value goods such as electronics and pharmaceuticals "The risk of theft and damage to high-value cargos...
China set to fine Ant Group over $1 bln, signalling revamp nears end-sources
The regulators also pushed Ant, whose businesses span payment processing, consumer lending and insurance products distribution, to revamp its business structure and bring it under tighter regulatory supervision Chinese authorities are poised to impose a fine of more...
Australia’s extreme weather events to worsen as climate warms
In a dire report released Wednesday that will add to pressure on the government to take firmer action on climate change, the Commonwealth Scientific and Industrial Research Organisation and the Bureau of Meteorology said rising greenhouse gas levels are causing the...
Aircraft lessors sue insurers for $6.5 billion over seized Russian planes
More than 400 leased planes worth around $10 billion are unable to leave Russia after European Union sanctions forced the termination of their leases.Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are...
Russia reiterates it won’t sell oil to nations that cap prices
The cap, which is also backed by the European Union, would ban companies from providing services, including shipping and insurance, to Russian oil shipments anywhere in the world, unless it’s sold below the agreed threshold Russia doesn’t plan to supply crude or oil...
Domestic air traffic rises 10 pc in October: DGCA data
Data released by the Directorate General of Civil Aviation (DGCA) on Tuesday showed that domestic air traffic jumped nearly 27 per cent to 114.07 lakh last month compared to the year-ago period when it was 89.85 lakh ''Passengers carried by domestic airlines during...