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Ping An bets big on AI for business transformation
“The AI era successfully opened the window for reshaping services.The returns on investment are tangible, highly visible, and unequivocally compelling.” Ping An’s Chief Technology Officer Ray Wang said. Five years ago, almost no accident and health insurance claims at...
Missing crew not found in Iran-hit vessel, Thai ship owner says
Mayuree Naree, owned by Bangkok-based Precious Shipping Pcl, was struck on March 11 by Iranian projectiles while transiting the strategic waterway in ballast. Of the 23 crew members on board, 20 were rescued by the Omani navy after abandoning the vessel in a lifeboat....
Giant oil tanker off Dubai hit by Iranian strike after Trump’s latest threats
The strike on the Kuwait-flagged Al-Salmi is the latest attack on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.S. and Israel attacked Iran on February 28. TEL AVIV/WASHINGTON: Iran attacked and set ablaze a...
West Asia Crisis:Hormuz remains under Iran’s firm control
Until this war, one long-held assumption around Hormuz was that Iran would never attempt to close the strait, for fear of risking its own exports, a vital economic lifeline. In fact, ship-tracking data suggest that Tehran’s oil has continued to flow — almost entirely...
99.92% of Indian villages now have banking facilities within 5 kms radius
Pankaj Chaudhary, Minister of State in the Ministry of Finance Availability of banking outlets is monitored by a Geographic Information System (GIS) based Application, namely, the Jan Dhan Darshak (JDD) App The country has now 99.92% villages and 100% villages in the...
The April 1 Renewals: Changing Indian reinsurance market
While the momentum in India is toward expansion, the global environment remains highly volatile. This is no longer just a rate negotiation cycle; the market is balancing two forces that do not entirely align. What lies ahead is not a uniform market, but one that...
All insurance offices wil remain open on Mar31
The IRDAI has asked insurers to keep their branches open as per normal working hours on March 31, 2026.March 31 is a gazetted and public holiday in India owinng to Mahavir Jayanti.``The insurers may take note of the above and give adequate publicity to the special...
Two days of stock market slump wipes out Rs 18.60 lakh cr from investors’ wealth
"Another day of Carnage witnessed on D-Street. Uncertainty looms over sentiments. Escalating tensions in West Asia continued to weigh heavily on markets, as the ongoing US-Israel conflict with Iran entered its fifth week and expanded across the region," Siddhartha...
Indian re/insurers to impement Indian Accounting Standards (Ind AS) from April 1, can avail forbearance for 1-yr:IRDAI
To facilitate smooth transition, for insurers facing challenges in immediately shifting to Ind AS, a provision has been made to grant forbearance for one-year provided such a request will be be made on or before 30th April, 2026.. During the period of forbearance...
Life Insurance:Support for Indian households across stages
Out of the total benefits paid, ₹2.33 lakh crore has been on account of withdrawals and surrender, an increase of 1.77% over last year. Since persistency ratios remain robust, it signifies planned lifecycle exits.,said Kamlesh Rao, chairperson, Insurance Awareness...
India’s Population Dilemma:South states want more kids
Chandrababu Naidu — chief minister of the Indian state of Andhra Pradesh says that he is concerned that his state’s total fertility rate, the average number of children born to a woman over her lifetime, has fallen to 1.5 — about the same as in several European...
Indian Women Power: 3 in 4 homemakers(women) lack critical illness cover
A report by BajajCapital Insurance Broking highlights a powerful economic reality of Indian women contributing an estimated ₹22.81 lakh crore in unpaid household work, equivalent to nearly 6.39% of India’s GDP yet a significant protection gap continues to persist...
Global insurance premiums from data centres expected to rise to $24.2 billion by 2030 from $10.6 billion, Swiss Re says
"They're not just buildings, they are highly integrated systems where you have power, cooling, hardware, and software that all depend on each other," said Swiss Re's Head of Engineering and Nuclear Jimmy Keime Fast growth in data centre construction is pushing up...
Govt weighs options to shield airlines from West Asia crisis
Indian airlines' operational costs are spiralling due to surging oil prices and airspace curbs in the wake of West Asia turmoil, involving the US, Israel and Iran, which began on February 28. New Delhi:The civil aviation ministry is exploring multiple options to...
Telangana passes financial security Bill for senior citizens
The Bill mandates that public representatives, government employees, and private employees care for their elderly parents. Failure to comply will result in a deduction of 15 per cent of the salary or Rs 10,000, whichever is lower, payable to the parents. Hyderabad:...
Ship insurers juggle war risks for perilous Gulf route
To price war risk premiums, underwriters are considering numerous factors such as the type, flag and owner of the vessel, as well as its size, speed and cargo London: Iranian forces' threat to ships in the crucial Strait of Hormuz has driven up payments for the...
Near-term outlook remains uncertain with external shocks posing downside risks to growth:Finmin
The geopolitical developments have introduced a complex and multi-layered set of risks for India, given its position as a major energy importer with strong trade, investment, and remittance linkages with the West Asia region, the Monthly Economic Review for March...
Jio Fin Services expects to begin life, general insurance biz in 2026
``We hope to start insurance manufacturing in 2026, subject to regulatory approvals, The company is working towards building the necessary teams for the insurance foray.'' Hitesh Sethia,chief executive and managing director said Mumbai:After commencing its reinsurance...