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(Re)Insurers capital unaffected by aircraft lessor settlement claims, says Fitch
However, ongoing geopolitical uncertainty, including the Iran-Israel conflict, could lead to increased reinsurance costs and further reductions in capacity that could result in insurers further cutting their exposure. The ruling underscores the need for greater...
GIC syndicate 1947 novates managing agency services to Asta
Ramaswamy Narayanan, CMD, GIC Re Ramaswamy Narayanan, GIC Re chairman and managing director, said: “We are pleased to commence this partnership with Asta as we consider they are best-placed to help deliver the group’s strategy through managing our fully-aligned...
T’gana plant explosion: Company, Govt to pay Rs 1 cr compensation, says CM
“The state government will talk to the company management that Rs 1 crore each compensation will be paid to the deceased families. I have issued orders that from both the government side and company side Rs 1 Crore compensation will be paid,” Telangana Chief Minister...
FSIB panel headed by BS Sharma gets one year extension
For insurance sector appointment, Usha Sangwan, former Managing Director, LIC, A.V. Girija Kumar, former Chairman and Managing Director, Oriental Insurance Company Ltd and Sujay Banarji, former whole-time member (distribution), IRDAI, too have been given extension as...
Finance ministry asks pvt banks to increase their participation in implementation of govt schemes
M Nagaraju, Secretary,Department of Financial Services "Secretary directed private sector banks to increase their participation in implementation of govt schemes. He stressed upon fast settlement of the claims under Jansuraksha schemes, augmentation of banking...
Generali announces Central Bank as its new joint venture partner in 2 Indian insurance JVs
Generali will be holding a 74% stake while Central Bank of India will be holding up to 26% in the joint venture Jaime Anchústegui, deputy CEO, Insurance, Generali Group, commented: “We are pleased to announce this new chapter for our business in India together with...
T’gana pharma plant explosion: Sigachi says unit fully insured, assures support to affected persons
"The Hyderabad facility is fully insured, and we are in the process of initiating the necessary claims as per standard procedures. We remain committed to resuming operations at the earliest, with enhanced focus on safety, risk mitigation, and operational excellence,"...
LIC CEO Bhanoo seeks govt push for taking insurance education to cities and schools across India
P. Jaipuria, secretary general, Insurance Institute of India, S.N. Bhattacharya, Secretary General, Life Insurance Council, Sat Pal Bhanoo, CEO & MD (In-charge), Life Insurance Corporation, Inderjeet Singh, Secretary General Insurance Council, Kavita...
Gulf shipping costs drop as Israel-Iran ceasefire holds
Shipping rates for supertankers, which can carry 2 million barrels of oil, jumped over the past week before the ceasefire - more than doubling to over $60,000 a day. Rates were quoted around $50,000 a day on Thursday, freight data showed. "Tanker rates … have been...
PwC’s AI chief says firm has cut prices as tech saves staff time
``Clients would hear us talking about using AI and say, We want our fair share of those efficiencies. We certainly, as appropriate, give our clients the pricing benefit of the efficiencies we’re achieving. Like it’s competitors, PwC helps clients integrate...
S&P revises its outlook on GIC Re South Africa to positive from stable
The affirmation of the ratings on GIC Re SA reflects S&P's expectation that the insurer will continue to benefit from ongoing financial and operational support from its wholly owned parent, GIC Re . GIC Re SA benefits from rating uplift due to the support of its...
National consumer commission upholds doctor’s medical negligence, awards Rs 10 lakh compensation
In an order dated June 6, the national commission said that the doctor's hospital did not obtain "informed consent" for surgery, and the baby suffered injuries on his scalp and perichondritis of the ears, evidenced by the discharge summary of the second hospital...
FPIs on course to become net buyers in India for third month
Latest data made available by National Securities Depository Limited (NSDL) showed that FPIs had bought stocks worth ₹8,915 crore in June so far. In April and May, the FPIs had accumulated stocks worth ₹4,223 crore and ₹19,860 crore, respectively. New Delhi: Foreign...
AAIB also probing sabotage angle in Air India plane crash: Minister
Minister of State for Civil Aviation Murlidhar Mohol said the Aircraft Accident Investigation Bureau was conducting a full inquiry. It is being probed from all angles, including any possible sabotage. CCTV footage is being reviewed, and several agencies are involved....
95 crore people now benefiting from social security schemes: PM Modi
“Today, around 95 crore people of the country are getting the benefit of some or the other social security scheme; whereas, till 2015, the government schemes were reaching less than 25 crore people,” Prime Minister Narendra Modi said. New Delhi: Prime Minister...
Nine labourers go missing in landslide triggered by cloudburst in Uttarkashi
In view of continuous heavy rainfall in the state and the possibility of landslides, the Chardham Yatra has been postponed for a day as a precautionary step for the safety of the pilgrims which is paramount, Garhwal Commissioner Vinay Shankar Pandey said. Devotees...
Finmin asks public sector banks to monetise investments in subsidiaries via listing on bourses
For example, the country's biggest lender State Bank of India may look at listing SBI General Insurance and SBI Payment Services in the future after they scale up their operations.The general insurance arm of SBI has allotted 3,71,693 equity shares of ₹10 each during...
Monsoon havoc claims 34 lives, causes Rs 7,119 lakh loss in Himachal: State Govt
The highest damage has been reported to infrastructure under the Public Works Department, Jal Shakti Vibhag, and Power sectors,Himachal Pradesh Revenue Department stated Private property loss has been reported to be Rs 3,076.03 lakh, public property loss is reported...