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Iran declares Hormuz closure over Lebanon fighting, US says waterway remains open
U.S. President Donald Trump, in response, threatened to impose American tolls in the crucial waterway if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East.” TYRE,...
Repo Deals, G-Sec Lending: IRDAI recasts insurers’ investment playbook
In a significant change, insurers would be allowed to invest a portion of their shareholders' funds in private limited companies. Such investments, however, will be capped at 5 per cent of the shareholders' funds available beyond the solvency margin and will be...
Insurance intermediaries must report big commission payments, Publish details online: IRDAI
In a move aimed at strengthening oversight of sales practices, IRDAI has proposed that every branch of a Corporate Agent designate at least one Specified Person (SP) responsible for supervising solicitation activities at that location. The regulator has also proposed...
Lloyd’s:A new marine war risk consortium launched to support Strait of Hormuz shipping
The new marine war risk consortium will issue primary policies for vessels and cargo. It will provide up to $200 million of capacity separately for hull and P&I risks, with an additional $200 million of dedicated cargo capacity. Chubb will serve as lead...
IRDAI constitutes expert panel to chart AI roadmap for insurance sector
The panel, chaired by Sandeep K. Shukla, director of IIIT Hyderabad, will examine AI's impact on insurers, policyholders and the broader insurance ecosystem, with a particular focus on ethical adoption, transparency and data security. Hyderabad:Insurance regulator...
ICICI Lombard General to act as Lloyd’s local partner in India
Under this new agreement, ICICI Lombard will issue local policies on behalf of managing agents for selected lines of business. Managing agents can request local policies through the Multinational team, who will coordinate directly with ICICI Lombard to produce the...
Public Insurance Registry:IRDAI ropes in former bureacrat Prakash Kumar as sr advisor
The regulator believes PIR could address one of the insurance sector's most persistent challenges: fragmented data scattered across insurers, making it difficult for policyholders to access their records seamlessly and for regulators to obtain a comprehensive view of...
Turtlemint Fintech raises Rs 397 crore from anchor investors ahead of IPO
Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi, promoters of Turtlemint ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Amansa Holdings, BNP Paribas Financial Markets, Edelweiss MF, Bajaj Life Insurance, Societe Generale, ICICI Prudential Life Insurance...
IRDAI unveils new rule-making framework
The proposed regulations are being introduced in line with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which mandates public consultation, periodic review of regulations and stakeholder engagement in the regulatory process. Hyderabad:The...
Stranded ships transiting the Strait of Hormuz:Lloyd’s List
In a media briefing, Richard Meade, editor in chief of Lloyd’s List, said for the first time in 110 days, ships owned by major companies are transiting the strait after effectively being marooned there since February London:Major shipowners have begun moving vessels...
Cyber scams rise sharply across Asia: Interpol
The report comes as governments across Asia are grappling with an explosion in online fraud fueled by sprawling scam networks that monitoring groups say increasingly operate across borders and generate tens of billions of dollars a year. Once concentrated in parts of...
Allianz leads race for HSBC Life Singapore
HSBC had shortlistedAllianz, Sumitomo Life Insurance Co. and Daiichi Life Group Inc. as bidders for the Singaporean insurance unit. Other insurers including Sun Life Financial Inc. and Nippon Life Insurance Co. were said to be in the frame for the unit previously....
Emirates adds War Cover amid gulf rebound
The product includes medical coverage for conflict-related incidents, with airline-managed hotel accommodations and support for extended stays, according to the statement. Emirates also will rebook connecting services for affected passengers at no extra cost, even if...
US and Iran presidents sign ceasefire agreement, but Trump says he could still resume attacks
The memorandum includes an immediate end to the war on all fronts, including Lebanon, the full resumption of maritime traffic in the Strait of Hormuz, the lifting of a U.S. blockade of Iranian ports, the waiving of international sanctions on Iran, the unfreezing of...
Telegram moves Delhi HC against govt curbs; SG claims ‘shocking’ activities on platform
The Ministry of Electronics and Information Technology (MeitY), acting on recommendations of the National Testing Agency (NTA), issued a direction under Section 69A of the Information Technology Act, 2000, restricting access to the Telegram platform in India till June...
Govt completes 5% OFS in GIC Re, including 3% green-shoe option: DIPAM Sect
Sharing the outcome of the stake sale on social media platform X, DIPAM Secretary said, "Offer for Sale (OFS) in GIC Re closed with enthusiastic response from the investors. Government of India has divested 5.0% per cent of its stake in GIC Re with full subscription...
NSE files for Rs 30,000-cr IPO; set to become India’s biggest-ever public issue
Life Insurance Corporation of India (LIC), the single largest shareholder in NSE, holding a 10.72 per cent stake, will not offload any shares. GIC Re (1.07 crore shares), The New India Assurance Company (1.05 crore shares), National Insurance Company (0.60 crore...
India-UK trade pact: 5-yr exemption from social security payments to benefit 75,000 Indian professionals
The the Double Contribution Convention (DCC) "exempts Indian workers and employers from making dual social security contributions in the United Kingdom during temporary assignments. The period of exemption has been increased from 3 years to 5 years," New Delhi: Indian...