Finance minister Sitharaman, while speaking in the Lok Sabha, said,...
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Fifth La Niña in 6 yrs to disrupt crops and supply chains
The La Niña phenomenon is often linked with droughts in California,...
Warren Buffett’s successor Greg Abel had steady rise at Berkshire
Greg Abel, CEO designate,Berkshire Hathaway Ajit Jain, 74, also a...
Marine insurers continue to support trade in the Red Sea & Black Sea
The impact on Suez Canal transits and global supply chains are significant but this has not affected the ability of the marine insurance market to provide adequate cover – both for Red Sea/Suez Canal transits or for the longer route around the Cape of Good Hope,...
Maruti Suzuki may see some increase in costs due to Red Sea crisis
Similarly, the situation in the Red Sea is creating supply chain issues for German luxury carmaker Audi, impacting car deliveries to customers in India in the first quarter but recovery is expected in the coming months, according to a senior company official. New...
Britain’s financial regulators need ‘ambitious mindset’, says industry leader
“At Lloyd’s, we have the capacity and expertise to evaluate and approve a new underwriting syndicate within 30 days, but the external regulators require many months more before making a decision, causing businesses to set up outside the UK,” said Carnegie-Brown,...
Govt and ADB sign $200 million loan to tackle flood and erosion risk along Brahmaputra river
“Through the project, ADB continues to pursue its cost-effective, adaptive, and systematic river stabilisation approach to managing the Brahmaputra river. While deploying riverbank protection technology, ADB will also continue to build the capacity of state agencies...
New India’s net profit at Rs 713 crore in Q3FY24 despite large Nat Cat losses
"FY24 continues to be a challenging year for the company. In the third quarter, the country witnessed catastrophic events like cyclone Michaung and floods in South India, Sikkim West Bengal. The net impact of these events on the company's third-quarter results was...
Govt, exporters, shippers discuss Red Sea crisis; commerce ministry asks FIEO to share specific issues
The exporting community has urged the commerce ministry to intervene in freight rates as the shippers are charging huge amounts.High freight rates are impacting the exporting community. We are at dis-advantageous position as compared to countries which are not getting...
Fosun said to revive sale of Hong Kong’s $1 billion Peak Re
Founded in 2012, Peak Re focuses on insurance including property and casualty, and life and health, its website shows. It has more than 580 clients across 60 markets in Asia Pacific, Europe, the Middle East, Africa and the Americas. Fosun International Ltd. has...
GIC Re net profit jumps 27% to Rs1,518 crore in Oct-Dec Qtr, further reduces loss making Crop biz
`Our results during the quarter are more or less as per expectations. Domestic premium this quarter has come down due to our decreasing agricultural business. Combined ratios have gone up in domestic due to two natural catastrophic events in the quarter,'' said N...
Premiums for disaster-prone areas need to be subsidised: Parl panel
This may require a specialized insurance business to be set up by one of the PSU general insurance companies with subsidized premiums for disaster-prone areas, the panel said The government may need to consider how to provide insurance for projects that have to deal...
CCI approves Zurich Insurance stake in Kotak Mahindra General Insurance
In November last year, the Switzerland-based Zurich Insurance Group had agreed to acquire a 51 percent stake in Kotak Mahindra General Insurance Company for about Rs 4,051 crore. The proposed transaction valued Kotak Mahindra General Insurance Company at Rs 7,943...