K Rajaraman, chairman, International Financial Services Centre...
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Indian Insurtech sector attracted $ 2.5 bn funding, more investment to flow: Report
(Lto R) Vivek Mandhata, managing director & partner, Boston...
Facebook users affected by data breach eligible for compensation, German court says
Thousands of Facebook users in Germany are demanding compensation...
Google claims new IT rules not applicable to its search engine, HC seeks Centre’s stand
The single judge’s decision had come while dealing with a matter in which a woman’s photographs were uploaded on a pornographic website by some miscreants and despite court orders the content could not be removed in entirety from the World Wide Web and “errant parties merrily continued” to re-post and redirect it to other sites.
Tencent-owned startup reinsurer FuSure receives license for Hong Kong operation
With an initial capitalisation of HKD 1 billion (approximately USD 129 million), the company is 85.01% owned by Tencent Holdings Limited (Tencent), a technology conglomerate listed on the Hong Kong Stock Exchange, and 14.99% owned by Grand Azure Limited, a privately owned investment company.
Scott Sayce appointed Global Head of Cyber at Allianz Global Corporate & Specialty
In 2020, AGCS generated more than EUR 100 million gross premium written with cyber insurance solutions globally. In March 2021, AGCS announced a partnership with Google Cloud and Munich Re offering a unique cyber risk management solution for cloud customers.
Chubb report reveals risk and uncertainty faced by digital SMEs
Chubb partnered with Accenture to survey small and mid-sized businesses in nine markets around the world and the results revealed four mega-trends that impact businesses pursuing digital transformation.
German ‘insurtech’ Wefox raises $650 mln at valuation of $3 bln
Wefox founder and CEO Julian Teicke told Reuters the Series C round had drawn strong investor demand because Wefox was growing both rapidly and more profitably than rival online insurers that are losing money.
He put that down to Wefox’s strategy of offering digital tools that enable insurance agents to streamline and automate labor intensive processes. Agents sell nine out of every 10 policies in Europe, leaving direct-to-consumer competitors like Lemonade fighting for a smaller piece of the market.
Global chip supply shortages could take couple of years to address: Intel CEO
Intel CEO Pat Gelsinger noted that the work and study-from-home trends during the COVID-19 pandemic have led to a ”cycle of explosive growth in semiconductors” that has placed huge strain on global supply chains around the world
Biden budget sets aside $750 mln for SolarWinds response
The money comes on top of a $500 million fund for federal cybersecurity as the U.S. government recovers from the cyber attack that hit nine agencies including the State Department and Treasury.
The hack of information technology company SolarWinds, which was identified in December, gave access to thousands of companies and government offices that used its products. Microsoft President Brad Smith described the attack as “the largest and most sophisticated attack the world has ever seen”.
Nuclear flash cards: US secrets exposed on learning apps
“By simply searching online for terms publicly known to be associated with nuclear weapons, Bellingcat was able to discover cards used by military personnel serving at all six European military bases reported to store nuclear devices,” wrote Foeke Postma, the author of the Bellingcat article.
Paytm board grants in-principle approval for around Rs 22,000 crore IPO
It is likely to be one of the largest IPOs in India if the company is able to achieve the target as per its plan. Paytm shareholders include Alibaba’s Ant Group (29.71 per cent), Softbank Vision Fund (19.63 per cent), Saif Partners (18.56 per cent), Vijay Shekhar Sharma (14.67 per cent). AGH Holding, T Rowe Price and Discovery Capital, Berkshire Hathaway hold less than 10 per cent stake in the company.
Maharashtra intends to lead in the EV category, say officials
He said some 32,000 electric vehicles in various categories are registered in the state at present.
”The state intends on making the under construction Mumbai Nagpur Expressway and Mumbai Pune Expressway, Mumbai- Nashik and Nashik-Pune highways fully EV ready by 2025,” he said.