To counter the Aditya Birla bid, Nippon Life is also preparing to bid for Reliance Capital's 51 per cent stake in RNLIC in partnership with an Indian company, as Indian regulations restrict the holding of foreign companies in the insurance sector at 74 per cent...
Regulation
From Meta to Zomato, how new online review rules will impact industry
As far as platforms like Google and Meta go, the new rules will require them to validate the real person behind the review through specified six-right mechanisms which means fake accounts created just for review writing will go away over time or won't be able to be...
US bans Chinese telecom devices on data-security risk
These new rules are an important part of US government's ongoing actions to protect the American people from national security threats involving telecommunications Huawei Technologies Co. and ZTE Corp. were banned from selling electronics in the US by regulators who...
IRDAI eases norms for PEs to invest in insurance cos, Corporate agents can tie up with 9 insurers, Kshema General Insurance receives license, 19 pending
Corporate agents can tie up with 9 insurers (earlier 3 insurers) and Insurance Marketing Forms (IMF) can tie up with 6 insurers (earlier 2 insurers) in each line of business of life, general and health for distribution of their insurance products. The area of...
IRDAI plans to launch social safety net product “Bima Vistaar” on Bima Sugam
(Lto R)Thomas M Devasia, member-Non-Life, IRDAI, B C Patnaik, MD,LIC at 14th Assocham Global Insurance Summit Thomas M Devasia, member-Non-Life, Insurance Regulatory and Development Authority of India said, “We are working on certain broad-based initiatives towards...
Piramal, Zurich Joint Venture for Reliance Capital’s general insurance business collapses
According to the sources close to the development, both companies have decided to part ways due to the differences on various issues like shareholders agreement, valuation, etc With the collapse of Piramal-Zurich JV, the fate of RGIC's bidding process is uncertain, as...
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...
IRDAI asks general insurers to make use of ABDM’s Healthcare Professional Registry
Under Healthcare Professional Registry, a Healthcare Professional ID (HPID) will be created via Aadhaar or other KYC, along with the medical qualifications of the medical professional which is verified by their respective State Medical Councils. This HPID serves as a...
IRDA initiates discussions with general insurers to allow larger freedom to design various policies
According to the IRDAI, in the current situation, there are no real free market price discovery, no risk-quality based price discrimination, and no incentives for policyholder to adopt better risk management and insurer to price per own portfolio experience....
Ongoing turmoil in cryptos a reminder of huge risks attached: Singapore central bank
The Singaporean central bank, in the statement, added, the most important lesson from the FTX debacle is that dealing in any cryptocurrency, on any platform, is "hazardous". Singapore: The ongoing turmoil in the crypto industry serves as a reminder of the huge risks...