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Global reinsurance results very strong in 1H25, Revenue growth is slowing: Fitch
Fitch expects competition to intensify as supply outpaces demand, with further price softening and slight loosening of terms and conditions at the upcoming renewals, although underwriting discipline should persist. Chicago/Paris/London: Global reinsurers’...
Stock market decline wipes out Rs 11.21 lakh cr from investors’ wealth in 3 days
"The Sensex ended Friday's trade on a subdued note, slipping 270.92 points to close at 79,809.65 as persistent concerns over US tariffs on Indian exports weighed on investor sentiment and kept foreign inflows under pressure," Vikram Kasat, Head - Advisory at PL...
LIC pays Rs 7,324 cr to Finance Minister as dividend for FY25
LIC had an asset base of Rs 56.23 lakh crore as of June , 2025 Mumbai: State owned Life Insurance Corporation of India (LIC) on Friday said it has paid a dividend cheque of Rs 7,324.34 crore to Finance Minister Nirmala Sitharaman for the 2024-25 financial year. The...
India’s GDP grows 7.8% in Q1; highest in five quarters
India remains the fastest-growing major economy, as China's GDP growth in the April-June period was 5.2 per cent Commerce and Industry Minister Piyush Goyal on Friday said the government will soon announce measures to boost exports and domestic consumption,...
Reliance Jio to launch IPO in first half of 2026, expand business overseas: Mukesh Ambani
Mukesh Ambani,Reliance Industries Chairman and Managing Director Recently the company had announced 50:50 joint venture with Allianz Group for setting up an Indian reinsurance company. It had also signed agreement with Allianz to explore life and general insurance in...
AHPI withdraws suspension of cashless hospitalisation notice served on Bajaj Allianz
Commenting on the issue, APHI Director General Girdhar Gyani said, "We urge all the insurers to work in partnership with hospitals and restore cashless services, as the disruption is placing an unfair financial and emotional burden on patients. They also need to...
India’s economy resilient but US trade policies a downside risk, central bank bulletin says
Favourable rainfall and temperature conditions, along with improved rural wages, are likely to help keep rural demand strong while rate cuts and fiscal measures should help overall demand in the economy, it said. MUMBAI: The Indian economy remains resilient, backed by...
FM holds inter-ministerial meet on exporters amid US tariffs
Nirmala Sitharaman, Finance Minister According to exporters, labour-intensive sectors including shrimp, chemicals, textiles, leather and footwear, and gems and jewellery would be impacted from this tariff as their goods will become less competitive in the US market as...
PNB opens first full-fledged startup branch, CEO says Bank ready to take care of their financial needs
"We already had opened startup cells at different locations in the country, but today we have opened the full-fledged startup branch, and this concept we are going to do it in and implement it in the major centers in the country," Ashok Chandra, MD and CEO, PNB, told...
India may emerge as second-largest economy by 2038 with USD 34.2 trn GDP in PPP terms Report
India is emerging as one of the most dynamic among the world’s five largest economies, with strong economic fundamentals including high savings and investment rates, favourable demographics, and a sustainable fiscal position, said the the August 2025 issue of EY...
India has 56.75 lakh registered EVs till February 2025: Govt
In FY25, electric two-wheeler (e-2W) sales hit 11.49 lakh units, up 21 per cent from the previous year’s 9.48 lakh, the data showed. New Delhi: India has been making significant progress in the transition to green energy and electrification as the nation has a total...
India and Fiji join hands for climate action, resilience building and sustainable development
Prime Minister Narendra Modi and Sitiveni Rabuka,Prime Minister, Fiji, in New Delhi Prime Minister Narendra Modi had hosted a lunch for heads of offices supporting the economy of Fiji which was attended by R. Doraiswamy, CEO & MD , Life Insurance Corporation,...
Sompo to acquire Aspen for $3.5 Billion
James Shea, CEO of Sompo P&C, said “Strategic acquisitions have been a key part of our growth plan to build a robust and diversified global P&C platform, and Aspen represents an excellent opportunity at the right time in the market cycle. We look forward to...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric re/insurance policies, better aligning payout with actual losses. The scalable nature of Safehub’s technology allows for rapid and dense deployment of sensors, enabling risk transfer solutions even in regions with...
Kazakhstan presses on with $4.4 billion fine against global oil majors for ecological violations
Kazakhstan's government originally fined NCOC 2.3 trillion tenge - then worth $5.4 billion - in early 2023 for ecological violations related to an inspection of Kashagan's gas processing facilities in 2022, when the authorities said they discovered excessive volumes...
J-K: Five killed, 14 injured as landslide hits Mata Vaishno Devi route
The hill state of Himachal Pradesh, already reeling under the devastation caused by multiple landslides and flash floods, saw shops being washed away, buildings collapsing, and highways cut off. A total of 680 roads were closed in the state, with Mandi and Kullu...
PSU general insurance industry unions stick to 17% wage hike demand
``In today's meeting with GIPSA through virtual mode, the Associations were offered an improved loading factor of 14 per cent. While thanking the management for their efforts to come out with enhanced offer but reiterated our demand for parity with LIC in pay scales....
IRDAI suspends a junior official for financial misconduct
IRDA’s order for suspending Sastry signed by Raja K Sinha , member, Distribution, IRDAI has said he has admitted the financial misconduct but didn’t mention the exact nature of the misconduct Hyderabad: In a first ever case, the IRDA has suspended one of junior...