Naveen Tahilyani, Regional CEO, Indonesia, Malaysia, the...
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Prudential gets CCI nod to acquire 75 pc stake in Bharti Life Insurance
In May this year, UK-based Prudential plc announced that it would...
Are courts precluded from granting fair, just compensation in nuclear accident: SC asks Centre
CJI Kant said there was too much apprehension and pointed out that...
SC extends mandatory TP vehicle insurance period by one yr, asks IRDA to implement it immediately
The Supreme Court directed third-party insurance period for new vehicles be extended by one year, ordering that new cars must henceforth be covered for four years and new two-wheelers for six years at the time of purchase It directed all stakeholders to comply with...
FSSAI acts against liquor makers over flavour, labelling violations
The Ministry said laboratory testing of rum and whisky samples from multiple manufacturers found the presence of external artificial or nature-identical flavours. It quoted laboratory findings as saying that "the addition of artificial flavours is masking its natural...
Rajaraman gets extension as IFSCA chairman till 65
K Rajaraman, chairman, International Financial Services Centres Authority The main objective of IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region...
Japan earthquake’s insurance claims may top $1.1 billion: Bloomberg Intelligence
Most of the exposure from the July 28 quake in Kumamoto is tied to commercial properties, as well as residential coverage under Japan’s earthquake insurance system, he said. Insurance claims from this week’s earthquake in Japan may top the 175 billion yen ($1.1...
Fitch warns AI market correction emerging as major global credit risk
“The extent to which capital markets and economies have become intertwined with AI have created a vulnerability for credit,” Fitch said. The AI boom and the risk of a correction are emerging as major global credit risks, ratings agency Fitch has warned, adding to...
IRDAI grants license to ProTec General Insurance, approves key reforms
To further strengthen policyholder protection, the IRDAI has also approved amendments to the regulations governing insurance intermediaries.A key reform is the mandatory tagging of the authorised sales person to every insurance proposal, policy and certificate of...
Google rivals line up seeking damages after record $1 billion EU fine
The damages claims come as Google’s AI spending spree has left it burning cash, with Alphabet’s free cash flow negative in the second quarter for the first time as a public company. Tech and chip stocks are under pressure as investors question lofty valuations amid...
Swiss regulator opens enforcement proceedings against Zurich Insurance, bars sales of some new policies
“The regret is that we should have found it ourselves, which we didn’t despite all the audits and checks that we do. Remediation steps hadn’t been followed, which led to the enforcement proceeding, Chief Executive Officer Mario Greco Zurich Insurance said on Monday...
NGT tissues notice to Centre, others over worsening condition of Asia’s largest oxbow lake in Bihar
The bench said the lake, which once covered around 63 sq km, has gradually fragmented into smaller water bodies due to falling water levels and encroachment.It said the matter attracts the provisions of the Environment Act, Biodiversity Act and the Water Act. New...
IRDAI cracks down on 99% Fire Insurance discounts amid pricing war
Although India's general insurance market has been de-tariffed, allowing insurers to determine their own pricing since Apr 1,2024, the IRDAI reminded companies that premiums must remain aligned with board-approved underwriting policies and prudent risk management...