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India to remain global growth driver in foreseeable future: IMF executive director
Krishnamurthy V Subramaniam, executive director of the International Monetary Fund (IMF) Asked where India stands amid the current global economy, he responded, "I think India will continue to be the driver for global growth in the foreseeable future. The maximum sort...
Environment climate change gain prominence in manifestos but experts question follow-through
"It's crucial that environmental issues are not relegated to the bottom of the priority list, especially given the pressing concerns of air pollution and the climate crisis. This is particularly important as India is home to 83 of the 100 most polluted cities in the...
Broker Howden launches Red Sea cargo war insurance as ship risks surge
Howden said the new product was the "first dedicated insurance coverage of its kind to protect cargo vessels within an active conflict zone, which encompasses the Bab al-Mandab Strait, the Red Sea, and the Indian Ocean" LONDON: Howden has started offering war risk...
Middle East crisis: Civil aviation ministry asks airlines to carry out risk assessment on flight ops
Civil Aviation Secretary Vumlunmang Vualnam on Tuesday said that airlines have been asked to make their own risk assessment with respect to their flight operations New Delhi: Amid escalating tensions in the Middle East, the civil aviation ministry has asked airlines...
RBI issues draft guidelines on payment aggregators
The RBI said that given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence of merchants, operations in Escrow accounts, and...
Aditya Birla Capital to scale up life and health insurance business: Kumar Mangalam Birla
Kumar Mangalam Birla, chairman,Aditya Birla Group ``Our Health Insurance business is one of the fastest growing Standalone Health Insurance players driven by a unique ‘Health-first’ model. It also raised capital in FY23 from a marquee sovereign wealth fund, ADIA. This...
U.S. cyber insurance maintains strong profits; premium growth slows
Chicago/New York: Favorable cyber underwriting results are partly due to prior large increases in premium rates. Insurers are also being more careful in cyber risk selection and the underwriting process. They are requiring that customers maintain proper cyber hygiene...
IMF raises India’s growth projections from 6.5% to 6.8 %
India set to remain fastest growing among major economies in 2024, IMF projects Washington: India is set to remain as fastest growing among major economies in 2024, according to International Monetary Fund's latest World Economic Outlook. IMF, in its latest outlook,...
Breast cancer to cause a million deaths a year by 2040 Lancet commission
Globally, breast cancer cases will increase from 2.3 million in 2020 to more than 3 million by 2040, with low- and middle-income countries being "disproportionately affected", the commission estimated New Delhi: Breast cancer is now the world's most common...
IBISA launches climate cover for protecting Indian dairy industry from heat waves
In response to the significant decline in milk yield, estimated at 30-35% during severe heat waves, IBISA's Heat Stress Solution utilizes advanced climate metrics and satellite technology to provide vital protection for dairy farmers Bengaluru: IBISA, an insurtech...
HDI Global launches `Climate Risk Reporting’
The new service from HDI Risk Consulting GmbH, a wholly owned subsidiary of HDI Global SE, not only highlights the severity of climate risks but also provides specific data such as water depths, maximum temperatures, and duration of heatwaves, allowing companies to...
GIC Re appoints V. Balkrishna as its chief financial officer
State owned GIC Re has appointed V. Balkrishna, general manager as chief financial officer & Key Managerial Personnel of the corporation in place of Jayashree Ranade, general manager, CFO & KMP of the Corporation, who will be retiring from the service on 30th...
Shailendra Sapra named as CEO of Aon’s Reinsurance Solutions in India
Aon plc has announced that Shailendra Sapra had been named CEO of the firm’s Reinsurance Solutions in India and a member of the APAC region’s reinsurance executive committee, effective June 1st, 2024. Based in Mumbai and reporting to George Attard, CEO of Reinsurance...
Markel appoints Priyanka Gautama as chief underwriting officer for India
Priyanka Gautama, chief underwriting officer, Markel, India Gautama’s arrival underscores the organisation’s commitment to recruiting top-tier talent as it continues to serve brokers locally through superior underwriting, while supporting the business’s overarching...
India likely to experience above-normal rainfall this monsoon: IMD
Climate scientists say the number of rainy days is declining while heavy rain events (more rain over a short period) are increasing, leading to frequent droughts and floods. New Delhi: India is likely to experience above-normal cumulative rainfall in the 2024 monsoon...
India may remain poor even after becoming 3rd largest economy: Ex-RBI chief
With a per capita income of USD 2,600, India is in the 139th position in the league of Nations in terms of per capita income. And the poorest among BRICS and G-20 nations, he further pointed out Even after becoming the third largest economy in the world by 2029 as...
BNP Paribas buys 9% of Ageas from Fosun for EUR730 Mln
“We see the strategic rationale for a combination of banking and insurance, especially in the Belgian market where the savings market favors products in insurance wrappers,” said Johann Scholtz, an analyst with Morningstar BNP Paribas, the euro zone’s biggest bank,...
Govt collects Rs 27k cr in taxes from sr citizens on interest earned from fixed deposits: SBI report
SBI researchers estimated that at least 7.3 crore of these accounts have a balance of over Rs 15 lakh, and assuming that the deposits fetch an interest of 7.5 per cent, senior citizens have earned Rs 2.7 lakh crore in FY24 as interest alone Mumbai: The government has...