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Germany’s Munich Re to buy $2.6 billion Next Insurance
Ergo, the primary insurance business of reinsurer Munich Re, will become the sole owner of Next, which is focused on insuring U.S. small businesses FRANKFURT: Munich Re is buying the 71% of Next Insurance that it doesn't already own, strengthening its foothold in the...
Universal Sompo launches vision insurance plan
Universal Sompo General Insurance on Thursday launched a vision insurance plan under its Group Health Insurance product. The wellness benefits under the Vision Insurance Plan are powered by VisionSure, which integrates technology with various service providers to...
Finland ranks world’s happiest again with US at worst-ever level
Denmark, Iceland, Sweden and the Netherlands rounded out the top five in the rankings, which are based solely on the answers people give when asked to rate the quality of their own lives, according to researchers Finland’s unbroken streak as the world’s happiest...
Allianz and Mukesh Ambani’s Jio Financial may have reached initial deal for 2 Indian insurance JVs
The move comes as the German insurer agreed earlier this week to sell its stake in joint ventures with Bajaj Finserv Ltd. Both Jio and Allianz are in the process of finalizing the ownership structure, said the people who asked not to be identified as the matter is...
Elon Musk’s X sues Centre over alleged Censorship, IT Act Violations
'X' (formerly Twitter) raised concerns over the Centre's interpretation of the Information Technology (IT) Act, particularly its use of Section 79(3)(b), which 'X' argues violates Supreme Court rulings and undermines free expression online. The lawsuit alleged the...
Rana Daggubati, Prakash Raj booked for promoting betting apps
The complainant accused the celebrities and the influencers of promoting the betting apps on social media through pop-up ads among others Hyderabad: A case was registered against six Telugu film actors, including Rana Daggubati, Prakash Raj, Vijay Deverkonda and 19...
UK’s Prudential forms JV with IT major HCL for Health Insurance foray in India
Anil Wadhwani, Chief Executive Officer, Prudential plc The health insurance JV will be led by Amar Joshi (CEO designate), subject to regulatory approval `` Transforming access to healthcare and increasing insurance penetration are strategic priorities for Prudential...
Fed in no hurry to cut rates amid high uncertainty about Trump tariffs
Jerome Powell, head of the US Federal Reserve "Uncertainty around the outlook has increased," the Fed said in a new policy statement that accounts for the first weeks of the new Trump administration and the initial rollout of what White House officials say will...
LIC dispels Rahul Gandhi’s concern over new IRDAI rules making insurance unaffordable for poor and affecting agents
“ We want to clarify that LIC has introduced products that align with the New Product Regulations set by IRDAI, effective from October 1, 2024, keeping policyholders’ interests at the forefront .” said Siddhartha Mohanty, CEO & MD, LIC Kumud Das New Delhi/Mumbai;...
Need safeguard measures before raising FDI limit to 100 pc in insurance: Par Panel
Bhartruhari Mahtab,chairman, Standing Committee on Finance The Committee would like to emphasise the need for some safeguard measures to be in place to counter concerns like profit repatriation i.e. foreign investors sending earnings back to home countries rather than...
Red Sea insurance rates to stay firm as US airstrikes raise fears for ships
War risk premiums briefly eased to around 0.5% of the value of a ship after the January announcement from over 0.7% in December, before moving higher in February to 0.7% for some voyage rates. For some U.S. and UK linked ships, rates were quoted up to 2% in recent...
Home Insurance- Gaining Momentum in India’s Real Estate Market
Insurers are increasingly introducing innovative, customer-centric solutions to meet evolving consumer needs. For example, ‘pay-as-you-use’ home insurance allows coverage for specific periods, such as 10 days when homeowners are away on a trip, this can also be...
Yokahu launches first independent Parametric Exchange to transform disaster risk finance
The platform enables real-time risk assessment, pricing, and seamless capacity allocation, broadening the ability of parametric (re)insurance to play a vital role in climate resilience and disaster preparedness London: Yokahu, a leading innovator in parametric...
No proposal to change retirement age of govt employees: Centre
"No proposal to change the retirement age of government employees is under consideration of the government," Union Minister of State for Personnel Jitendra Singh said New Delhi: The government is not considering any proposal to change the retirement age of its...
Include heatwaves in disaster management plans: Parliamentary panel tells Centre
“The committee recommends that the ministry may include new and emerging disasters in its disaster management plans, such as those caused by heatwaves etc. It further recommends establishing a formal mechanism for the periodic review and update of the Notified...
GenAI reshaping fraud prevention strategies in India- Experian Insight report
Shail Deep, Chief Operating Officer (COO), Experian EMEA & APAC The report identifies a notable shift from individual fraudsters to highly organized fraud syndicates, a trend intensified by the advent of GenAI. 85% of businesses in India agree that GenAI has...
Senior citizens can cancel gift deed if their children fail to take care of them: HC
The bench said section 23 of the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 was designed to protect senior citizens in situations, where they transfer their property, either through a gift or settlement, with the expectation that the transferee...
IRDAI inducts new members into its Insurance Advisory Committee
The new members inducted into IAC are, MR Kumar, former chairman, LIC and currently non-executive chairman of Bank of India, Dinesh Kumar Khara, former chairman, State Bank of India, Vishakha Mule, CEO, Aditya Birla Capital, Nilesh Shah, MD, Kotak Mahindra Asset...