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India to get rating support if it uses RBI dividend to reduce deficit: S&P
"The additional dividends from the RBI are around 0.35 per cent of GDP. Whether it would support the narrowing of the fiscal deficit in fiscal 2024-25 would really depend on the final budget that would be passed after the June election results," said S&P Global...
Marsh’s Alex Rosati to join as Asian claim head of WTW for its Corporate Risk & Broking business
Alex Rosati In his role with WTW, Alex will focus on all aspects of the firm’s claims proposition, including the development and execution of WTW’s claims management strategy across Asia Singapore: WTW, a global advisory, broking and solutions company, today announced...
Canopius announces Andy Haste as Group Chairman
He has deep insurance expertise; his former roles include group chief executive of RSA Insurance Group, and CEO at AxA Sun Life, as well as serving as senior independent director and deputy Chairman of Lloyd’s for nine years, between 2012 and 2021 London: Canopius, a...
Health sector most at risk from AI-related threats, Swiss Re
Christoph Nabholz, Chief Research & Sustainability Officer at Swiss Re,said: "While IT services are currently the most affected by AI risks as a pioneer in this area, this is set to change as the use of technology becomes more widespread across all industries,...
Shipping: Losses hit all-time low despite increasing risks for the sector: Allianz Report
The number of shipping incidents reported globally declined slightly last year (2,951 compared to 3,036), with the British Isles seeing the highest number (695). Fires onboard vessels – a perennial concern – also declined Fires remain a key safety issue on larger...
Corporate affairs ministry fines Nadella, LinkedIn India, for violations of companies law
Satya Narayana Nadella, executive chairman and CEO, Microsoft In a 63-page order, the Registrar of Companies ((NCT of Delhi & Haryana) said that LinkedIn India and the individuals violated the Significant Beneficial Owner (SBO) norms under the Companies Act, 2013...
RCap administrator seeks 90-day extension from NCLT to implement resolution plan
The deadline for the implementation of the approved resolution plan was May 27, 2024. NEW DELHI: The administrator of debt-ridden Reliance Capital (RCap) has moved NCLT, seeking a 90-day extension beyond the deadline to implement the Rs 9,661 crore resolution plan...
Go Digit shares settle with over 12 pc premium in debut trade
The stock began the trade at Rs 281.10, up 3.34 per cent from the issue price on the BSE. During the day, it climbed 15.44 per cent to Rs 314. Shares of the company ended at Rs 305.75 apiece, up 12.40 per cent New Delhi: Shares of Go Digit General Insurance Ltd,...
New India doubles its net profit to Rs 354 cr in Q4FY24
Titus Francis, executive director, NIA "NIA has delivered excellent results in FY24, despite adverse impact of several catastrophic claims during the year. It has recorded a 128 per cent growth in its net profit in Q4. On individual lines, Motor third party loss ratio...
Who undertakes film certification for OTT, social media platforms: HC asks Centre
The court has asked the Centre and Central Board of Film Certification (CBFC) to file a counter affidavit apprising it whether there is any other arrangement for OTT films or whether CBFC is authorised to give certificates to them too Lucknow: The Lucknow bench of the...
Shriram General Insurance records 22 % jump in net profit to Rs 455 crore in Fy 24
Anil Aggarwal, MD & CEO, Shriram General Insurance Company. The general insurer's combined ratio, one of the key matrix for profitability had fallen to 105.98 per cent in Fy 24 from 110.42 per cent in Fy 23 The company's underwriting losses have fallen by 21.40...
Decide a limit on serving liquor as customers drive vehicles to return home: Court on Pune car crash
After hearing the arguments of the prosecution and the defence, Additional Sessions Court Judge S P Ponkshe expressed concern over the loss of two lives in the accident, and said, "…If the person is highly drunk, make arrangements for his stay there. What should...
Global cybercrime cost increased 12x faster than total cybersecurity spending: Report
Cyber attacks, including ransomware, data breaches, cyber espionage, and phishing, will inflict damages totalling $9.2 trillion in 2024, $1.1 trillion more than last year and a shocking 972 per cent more than six years ago New Delhi: As organisations continue to spend...
Losses from “grey zone” action prompt preparedness, cos expand political risk management capabilities: WTW report
Partly as a result of disruptions in the Red Sea, state-sponsored supply chain disruption appears as one of the main business concerns for 2024 and ‘grey zone aggression’, meaning any action used to weaken a country by any means short of war, has reached the top 10...
Warburg Pincus, Temasek buy insurance services firm SRG in £1 Billion Deal
The deal also comes amid increasing consolidation in the insurance space. Insurance giant Aviva Plc said this year that it would buy specialist insurer Probitas for £242 million. Over the past decade, larger insurers such as Catlin, Amlin and Novae have also been...
Oil shipments at risk from rising sea levels, think tank warns
It said 12 out of the top 15 tanker terminals were expected to be impacted by one meter of sea level rise, including five based in Asia. Up to 42% of global crude oil exports from Saudi Arabia, Russia, the United States and the United Arab Emirates were at risk,...
Canada plans harsher laws, equipment bans to fight car theft
Canadian car thefts were a C$1.2-billion ($880 million) “gift” to organized crime in 2022, Brampton Mayor Patrick Brown said at the event Monday Canada’s government is banning key-programming machines and other equipment used to steal cars, while implementing harsher...
China boosts farmer protection with nationwide insurance for major grains
The policy is aimed at improving the level of agricultural insurance protection, stabilizing farmers’ income, supporting the revitalization of rural areas and safeguarding food security, according to a notice released with the Agriculture Ministry and the State...