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South Africa’s state-owned insurer sets up $1.1 billion riot buffer, to safeguard anticipated future unrest
“All the ingredients for a protest are in place — someone just needs to light the match,” Mpumi Tyikwe, the insurer’s chief executive officer, said in an interview in Bloomberg’s Johannesburg office last week. “We can handle a significant event now. I think anything...
Women-only US dating advice app Tea suspends messaging following breaches
The app—which boasts 4.6 million users—is pitched as a “dating safety platform” that women can use to steer clear of men who are adulterous, dishonest, or worse. The women-only U.S. dating advice app Tea has suspended direct messaging following a series of security...
Tsunami Warnings: All 10 most powerful earthquakes recorded in modern history located on the Ring of Fire
The Pacific region is highly prone to powerful earthquakes and resulting tsunamis because it’s located in the so-called Ring of Fire, a region of heightened seismic and volcanic activity At about 11:30 am local time on Wednesday, a magnitude 8.8 earthquake struck off...
Policybazaar launches ‘ClaimSetu’
Policybazaar for Business (PBFB), the corporate arm of one of India’s largest online Insurance platform, has launched ClaimSetu, first AI-powered solution to simplify, and speed up Group Health Insurance (GHI) reimbursement claims. “Reimbursement claims remain one of...
Edme Insurance Brokers appoints Nitin Firke as MD, Reinsurance
Edme Insurance Brokers has appointed Nitin Firke as managing director, Reinsurance, to further strengthen its leadership team and reinforce its commitment towards building a robust reinsurance practice in India and beyond. Firke brings with him an exceptional track...
Creating realistic deepfakes getting easier than ever, fighting back may take even more AI
Researchers, public policy experts and technology companies are now investigating the best ways of addressing the economic, political and social challenges posed by deepfakes The phone rings. It’s the secretary of state calling. Or is it? For Washington insiders,...
Insurance premium for aircraft expected to go up, says IndiGo CEO
During a virtual interaction post announcing the June quarter results, Elbers said the insurance premiums always follow some of the trends in the market and "we do expect them to go up and we're still finalising some of the discussion in what magnitude that would be"....
Ambanis to infuse Rs 16K cr in Jio Financial Services to take on rivals
Mukesh Ambani, chairman, Reliance Industries Currently, JFS, which has floated three joint ventures with Germany major Allianz for foraying into Reinsurance, Life and General Insurance business, operates its financial services business through consumer-facing...
Air India’s Ahmedabad Crash:Re/insurers clear $125 million claims for AI’s Hull and engines
Indian reinsurer GIC Re had said Air India's Ahmedabad crash claim likely to hit a total of $475 million including $350 million of liability claims involving the compensation amount for 270 people who lost their lives due to the mishap London/Mumbai: Global...
ICICI Foundation partners with IIT Kanpur to build Digital Health Stack
"We believe that technology-led innovation holds the key to inclusive healthcare in India. We collaborate with IIT Kanpur on the ICICI Digital Health Stack, which will help build a future-ready and digitally aligned healthcare ecosystem for public welfare," ICICI Bank...
India projected to grow 6.4% in 2025 & 2026, reform momentum driving stable growth: IMF
India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment, the International Monetary Fund has said. NEW...
Microsoft restores services to Nayara ahead of HC hearing
Earlier this week, Microsoft suspended its services to Nayara Energy after the European Union included the company in a new round of sanctions against Russia over the Ukraine war. In response, Nayara took the US tech giant to the Delhi High Court, which was scheduled...
International Road Federation flags safety non-adherence in road projects in India
Akhilesh Srivastava, president, India Chapter (IRF-IC) "Across numerous active construction sites, IRF-India Chapter has observed a lack of advance warning signs for diversions or lane closures, absence of reflective tapes, barricades or cones, poorly marked or unlit...
Affluent Indians need Rs 3.5 crore for comfortable retirement, says HSBC report
"Investors (in India) are concerned about the cost of living and economic uncertainty. Compared to the global outlook, they are extremely confident in their ability to achieve financial goals," the report notes. New Delhi: Indians will need to save an estimated ₹3.5...
Powerful quake in Russia’s far east causes tsunami, Japan and Hawaii order evacuations
The shallow earthquake damaged buildings and injured several people in the remote Russian region, while much of Japan's eastern seaboard - devastated by a 9.0 magnitude earthquake and tsunami in 2011 - was ordered to evacuate. Workers evacuated the stricken Fukushima...
ACKO on boards MS Dhoni as an investor and brand ambassador
Mahendra Singh Dhoni ACKO, which has also eminent IT entrepreneur Narayana Murthy as one of the founders, has not disclosed the quantum of Dhoni's investment Bengaluru: Ace cricketer Mahendra Singh Dhoni has become an investor as well as a brand ambassador of ACKO. As...
Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
India-based Seven Islands Shipping Ltd and Great Eastern Shipping Co have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters NEW DELHI: The owners of three vessels...
Hydrogen: Insurance market could hit more than $3 billion by 2030, says Allianz
“Insurers have a key role to play in the development of the hydrogen economy, enabling investment and innovation, and providing risk management advice and guidance. Collaboration and knowledge-sharing within this industry are essential for developing best practices...