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ICICI Prudential Life Q2 profit rises 23 pc to Rs 244 crore
The assets under management of the company grew by 11.3 per cent from Rs 2,44,279 crore as on September 30 last year to Rs 2,71,903 crore as on September 30, 2023 Mumbai: ICICI Prudential Life Insurance Company on Tuesday reported a 23 per cent increase in its net...
Govt wants adoption of Property/Parametric covers to mitigate financial losses due to natural catastrophes
Vivek Joshi, Secretary, Department of Financial Services (DFS), for the first time on Wednesday met General Insurance Council and a few CEOs of private sector general insurance companies in New Delhi, to discuss several critical issues having implications for the...
Lloyd’s approves Oka syndicate-in-a-box 1922, to focus on solution to protect against buyer-side carbon credit risks
The volume of carbon credit purchases has quadrupled over the past four years, with the market expected to grow exponentially as corporations make commitments to achieve net zero targets as a priority LONDON: Asta, the leading third-party managing agent at Lloyd’s,...
AI startup mind foundry helps insurers spot cognitive decline in older drivers
“If a person is over a certain age, their insurance policy is gone, their independence is gone,” Mullins said. “Not all individuals age the same way. Now data can tell us that the person is driving safely. That’s aresponsible use of AI.” Mind Foundry Ltd., an...
Howden launches climate-focused parametric insurance unit
The global market for parametric insurance is expected to reach $29.3 billion by 2031, analysis from Allied Market Research showed, up from $11.7 billion in 2021 London: UK-based insurance broker Howden said on Tuesday it had created a new unit to focus on climate-...
EU banks told to review clients in historic ESG crackdown
Global banking and financial stability organizations are all reviewing reporting and capital frameworks, though none has moved as fast as the EU in setting firm requirements. The Basel Committee on Banking Supervision expects to publish a proposed framework for...
India’s pension system improves from 2022: Report
''Changes in workforce dynamics, employment and family patterns have brought formal sources of retirement to the forefront. While there is improvement in the net pension replacement rate and participation in private pension plans, which is reflected in the value of...
In 3:2 majority verdict, SC says queer couples can’t adopt children
This is not to say that unmarried or non-heterosexual couples cannot be good parents, Justice Bhat said, adding that the State, as the guardian, has to explore all areas and ensure that the benefits reach such children who are in need of stable homes New Delhi: A...
SC declines to allow same-sex marriages
On April 27, the court asked the Centre whether social welfare benefits such as opening joint bank accounts, nominating a life partner in provident fund, gratuity and pension schemes can be extended to same-sex couples without going into the issue of legal sanction to...
Jio Financial set to launch suite of loan products in billionaire Ambani’s finance push
The company's insurance broking arm has also partnered with 24 insurance companies, while its payments bank division, which relaunched savings account and bill payment services, plans to launch debit cards Bengaluru: India's Jio Financial Services JFS plans to launch...
Insurtech BimaKavach gets insurance broking license, plans fund raising
In 2022, BimaKavach raised $2 million in a seed round led by WaterBridge Ventures, with participation from Blume Ventures, Arali Ventures, and Eximius Ventures to be utilized for designing new-age business risk covers, investing in proprietary risk management...
ILO and WHO review social protection impact in reducing socio-economic damage of next pandemic
Mia Seppo, ILO Assistant Director-General for Jobs and Social Protection, highlighted the complexity of the issues involved. “We see the discussions on a strengthened framework for prevention, preparedness and response as an opportunity to drive the point home that to...
Jharkhand first state to take steps to ensure minimum wages for workers
This committee, formed by state’s labour department, will study the conditions in which Swiggy-Zomato, Ola-Uber drivers, gig workers, online delivery boys are working. On this basis, recommendations regarding their minimum wages will be made. It is estimated that...
Coal secy stresses on importance of cyber security, says threats are more sophisticated
The coal ministry organised the workshop to sensitise the PSUs and organisations under its administrative control about current cyber security challenges and adapt and implement best practices in their organisations New Delhi: Coal Secretary Amrit Lal Meena on Friday...
SC to deliver its verdict on the issue of same-sex marriage on Tuesday
During hearing, the Centre had submitted before the apex court that the court's hinting at a possibility of declaration being made something less than marriage but something more than the present status may not be the correct course of action New Delhi: The Supreme...
Deadly Indonesian cough syrup was almost pure toxin, court papers show
The criminal case comes as efforts grow worldwide to tighten oversight of drug supply chains after a wave of poisonings linked to contaminated cough syrups that killed dozens more children in countries such as Gambia and Uzbekistan An Indonesian drugmaker whose cough...
Cat bond market is defying the global selloff with record returns
Big reinsurers like Swiss Re and Munich Re, as well as some real-economy companies, have increasingly looked to cat bonds as they try to protect themselves from once-in-a-lifetime disasters. In July, Blackstone Inc. turned to cat bonds to shield property assets from...
India to start monitoring high-risk glacial lakes next year
There are 56 at-risk glacial lakes in India and the urgency to monitor them was stepped up after Lhonak Lake in the eastern Himalayas burst its banks two weeks ago and caused widespread damage in Sikkim, a small mountainous state wedged between China, Nepal and Bhutan...