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Trump says Iran and Oman will not control Strait of Hormuz, deal remains elusive
Trump's comments came after Iranian state TV reported that it had obtained an unofficial draft of an agreement that would restore commercial shipping through the strategic waterway to prewar levels within a month, with Iran and Oman jointly managing traffic. That...
Climate Intelligence:Turning weather data into financial gain
The weather was always data. We just never learned to treat it as a financial signal.That is now changing, and it is changing faster than most people realise.The missing link has always been the intelligence layer that connects real-time weather data to real-time...
Govt prepares Rs10,000 crore LIC stake sale next month
The government plans to sell a stake of about 2% in the state-run insurer in late June or early July to institutional investors.The Department of Investment and Public Asset Management, under India’s Finance Ministry, is working with Goldman Sachs Group Inc., Motilal...
New Mandatory Norms:IRDAI asks insurers to disclose KMP pay metrics, Policyholder Service performance on websites
Ajay Seth, chairman, IRDAI ``Evolving expectations of customers and needs of the economy require us to place greater emphasis on measurable customer outcomes, transparency in decision-making, responsiveness, and sustainable value creation. Accordingly, the revised...
GIC Re Q4 profit rises 3% to Rs 2,254 crore with underwriting profit, pays dividend of Rs 13.25 per share
GIC Re's Combined ratio improved marginally to 103.43 per cent in Q4FY26 from 103.56 per cent a year earlier “On the back of disciplined underwriting, consistent execution, and our strategic approach, we hope and believe that we will continue to improve and perform to...
US launches new strikes as talks stall,Iran says strikes violate ceasefire
Marco Rubio,U.S. Secretary of State Following strikes against targets that the U.S. said included boats attempting to lay mines and missile launch sites, U.S. Secretary of State Marco Rubio told reporters on his plane in India's Jaipur that the Strait of Hormuz had...
Private credit losses could hurt insurers more than banks, ECB warns
Private credit has been rattled in recent months by concerns about overspending on artificial intelligence, the technology’s disruptive power notably as regards the software industry and doubts over lending standards.The ECB said that the upstart industry in isolation...
OpenAI’s Altman says AI unlikely to trigger ‘Jobs Apocalypse’
Sam Altman,CEO,OpenAI Sam Altman said he and his executives had been “roughly right” on the technological predictions made by OpenAI when it launched ChatGPT in 2022. But he said they were “pretty wrong” on the social and economic implications. OpenAI CEO Sam Altman...
Swiss Re appoints market heads in different regions
Rafael Schneider,Market Head, Germany, will become Market Head Mediterranean & Middle East.He will be succeeded in this role by Kristina Franke. Zurich:Following last month's announcement about Anna Ziswiler's move to Asia, Swiss Re has announced the new market...
Asia emerging as a key global growth engine for cyber insurance market:Report
The report, “Unlocking Asia’s Cyber Insurance Opportunity: The Broker’s Role in Growth”, notes digital adoption is accelerating across the region, yet standalone cyber insurance penetration remains structurally low. In many markets, fewer than five percent of small...
Aon appoints Christian Hoffman as global CEO of Commercial Risk
Christian Hoffman, Global CEO, Commercial Risk, Aon In this role, Hoffman will lead Aon’s global Commercial Risk business, advancing the firm’s strategy to help clients navigate increasing volatility by connecting their complex risk needs with the most efficient forms...
Govt prepares interim, not final, report as Air India crash anniversary nears
By releasing an interim report, Indian authorities will not be required to share the findings ahead of time with the U.S. National Transportation Safety Board (NTSB), which is participating in the investigation because the aircraft was designed and manufactured in...
WHO warns Congo Ebola outbreak outpacing response efforts
“We are now playing catch-up with a very fast-moving epidemic,” WHO Director-General Tedros Adhanom Ghebreyesus said Monday during a virtual briefing of African health ministers. “At the moment, the epidemic is outpacing us.” Ebola is spreading faster in Democratic...
Iran would open Strait of Hormuz 30 days after peace deal
The United States is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, regional officials told The Associated Press on Sunday, though U.S. President Donald Trump said...
FSIB to select a new CMD for New India on May 28,6 PSU and Pvt sector officials in race
From PSU insurance sector, Lavanya Mundayur, CMD, Agriculture Insurance Company(AIC), Mini George, executive director(ED),AIC, S Sivasankar,ED, New India Assurance, and from the private sector, Ashok Lahoty,actuary, National Insurance Company,and Prabha Chokani, Head...
New DFS secy Lohiya joins LIC board, HH Mishra inducted into NIA
Sanjay Lohiya, who will become the new secretary, Department of Financial Services from June 1, has replaced Shalini Pandit as the Government nominee director on the board of Life Insurance Corporation of India (LIC) on May 13.Hari Har Mishra, additional secretary,...
Nadda reviews preparedness and surveillance measures for Ebola disease
Jagat Prakash Nadda,Union Minister of Health and Family Welfare Nadda also directed the Secretary, Ministry of Health and Family Welfare, Director General, Indian Council of Medical Research (ICMR) and Director, National Centre for Disease Control (NCDC) to keep all...
Parl panel to discuss impact of West Asia crisis on India’s maritime trade
India's maritime trade, especially in the energy sector, has been hit after the West Asia war broke out on February 28, disrupting ship movement in the Strait of Hormuz. A large portion of India's fuel supplies came from the Gulf and West Asian countries. New Delhi:A...