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171 million Indians lifted out of poverty in a decade: World Bank
The five most populous states--Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh--accounted for 65 percent of the country's extreme poor in 2011-12 and contributed to two-thirds of the overall decline in extreme poverty by 2022-23.Nevertheless, these...
Shifting Gears: Cautious mid-term outlook for global motor insurance as challenges persist, says Swiss Re
Swiss Re's Chief Underwriting Officer Casualty Laure Forgeron said: "The global motor insurance market is both dynamic and rapidly evolving. At this moment, the introduction of new tariffs will have a material impact by increasing repair costs and putting supply...
Delhi plans to curb gasoline car sales, ban gas-guzzling bikes to shed polluter tag
The primary objective "is to unlock the next phase of EV adoption, reduce air pollution and contribute to India's energy independence and net-zero targets," the draft stated.the policy document says, no new sales of gasoline, diesel and gas-based two-wheelers will be...
SBI Life’s net profit almost remains flat at Rs 814 crore in Q4FY25
Amit Jhingran, MD & CEO of SBI Life stated, ``With a 12% growth in Individual Rated Premium, SBI Life outperformed industry growth of 10.5%. SBI Life has stepped into its 25th year. The company’s 3 key strengths – a highly effective distribution network, one of...
Safety assessment rating for trucks, heavy vehicles on lines of Bharat NCAP soon: Gadkari
The road transport and highways minister Nitin Gadkari further said the government is already working on standards and safety assessment system for battery-operated e-rickshaw's in the country as they suffer from safety issues New Delhi: The Ministry of Road Transport...
3 more Russian insurers seek India’s nod to provide cover for oil tankers
The move comes as growing scrutiny of Russia's oil supply chain by Washington and the European Union, including compliance with a price cap set by G7 for the use of Western ships and insurance, makes it increasingly difficult for Moscow to export its oil.India has...
Renewable Energy: Nat Cat and unmodelled extreme weather risks emerge as a defining challenge
A new report by GCube Insurance calls for action from insurers, developers, and financiers to close the global renewables risk management gap. This will involve enhancing data accuracy through updated Nat Cat modelling, optimising asset design to withstand emerging...
US Treasury’s Bessent urges IMF, World Bank to refocus on core missions
"The IMF was once unwavering in its mission of promoting global monetary cooperation and financial stability. Now it devotes disproportionate time and resources to work on climate change, gender, and social issues. These issues are not the IMF's mission."U.S. Treasury...
World’s biggest companies cause $28 trillion in climate damage: Study
Everybody's asking the same question: What can we actually claim about who has caused this? said Dartmouth climate scientist Justin Mankin, co-author of the study. And that really comes down to a thermodynamic question of can we trace climate hazards and/or their...
IMF slashes global outlook as White House says trade talks pick up pace
With tariffs on goods coming into the world’s No. 1 economy now at their highest in a century, the IMF projects global growth in 2025 will slow to 2.8%—its poorest showing since the COVID-19 pandemic—from 3.3% in 2024 Worldwide economic output will slow in the months...
Cybercrime costs rose to at least $16 billion globally in 2024, says FBI
The losses—a one-third increase over 2023—were largely driven by low tech scams, such as would-be investors swindled out of money online, or company employees tricked by deceptive emails into wiring large sums to criminals’ bank accounts. Tech support and romance...
Aditya Birla Capital becomes a corporate agent
After selling its insurance broking unit, Aditya Birla Capital Limited has announced that it has secured approval from the IRDAI to operate as a Corporate Agent (Composite). The license, granted on April 21, 2025, allows the company to solicit Life, General, and...
IRDAI approves Niva Bupa’s Krishnan Ramachandran 5-yr extension as CEO
Niva Bupa Health Insurance has received regulatory approval from the IRDAI for the re-appointment of Krishnan Ramachandran as CEO and MD. The re-appointment is effective for a five-year term from May 1, 2025, to April 30, 2030.
Trump’s new tariff could shave off 0.5% points of India’s GDP: Finance Secy
"Second order (effects) would be important," said Finance Secretary Ajay Seth, referring to concerns that trade turmoil would slow global growth The direct hit from tariffs introduced by Donald Trump's administration on India could shave off between 0.2-0.5 percentage...
Life insurers record marginal 5% rise in new premium collection in FY25, no of policies sold fell 7%
LIC's total new business premium rose just two per cent Rs 2.26 lakh crore in for FY25, which included Rs 62,404.58 crore from individual new business New Delhi: Led by state owned Life Insurance Corporation(LIC), domestic life insurers recorded a marginal 5.1 per...
SBI Gen’s net profit more than doubled to Rs 509 crore in FY 25
Naveen Chandra Jha, MD & CEO, SBI General Insurance Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, “We have been consistently growing faster than the market. In FY25, our GWP grew by 11.1 per cent, 70 per cent faster than the industry growth of...
SBI General Insurance, one of India’s leading general insurance companies, today announced its financial results for FY25, marking a milestone as the companycompletes 15 years of operations. Continuing its robust growth trajectory, the company reported a Gross Written...
Swiss insurers Helvetia and Baloise to merge to create top 10 company
The new group, to be called Helvetia Baloise Holding, will become one of the ten largest insurers in Europe, under what the two companies called a “merger of equals” with an even spread of senior executives and board members Helvetia and Baloise plan to merge to...