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Govt appoints Hitesh Joshi as acting CMD of GIC Re
Hitesh Joshi, acting CMD, GIC Re ``The competent authority has approved the entrustment of the financial and administrative powers and functions of the Chairman-cum-Managing Director (CMD), General Insurance Corporation of India (GIC-Re) to Hitesh Ramesh Chandra...
SBI Life’s net profit falls 7% to Rs 495 crore in Q2FY26 as costs rise amid competition
Its net premium income jumped 22.6% to Rs 24,848, driven by a near 20% rise in premiums from old policies that were renewed Mumbai:SBI Life Insurance, the second largest life insurer next to Life Insurance Corporation, reported a 7% fall in second-quarter profit on...
World Bank approves $280 million program for Kerala’s 11 million elderly and vulnerable people
According to a statement from the multilateral institution on Friday, the USD 280 million Kerala Health System Improvement Program will build a more comprehensive health system resistant to climate shocks. It will also strengthen Kerala's digital health systems...
Jaguar Land Rover hack cost UK economy $2.5 billion, report says
"This incident appears to be the most economically damaging cyber event to hit the UK, with the vast majority of the financial impact being due to the loss of manufacturing output at JLR and its suppliers," the CMC report said. LONDON: The August hack of Jaguar Land...
US sanctions Russian oil majors over Ukraine, prompting jitters in India and China
The sanctions target oil giants Rosneft and Lukoil, which between them account for more than 5% of global oil output In another bid to starve Moscow of revenue, the EU also approved a 19th package of sanctions that includes a ban on Russian liquefied natural gas...
India’s Cloudburst Challenges:Insurance gaps & Future safeguards
The entire Himalayan belt is increasingly vulnerable to cloudbursts, flash floods, landslides, and potential glacial lake outburst floods (GLOFs), all driven by changing monsoon patterns and accelerated warming in the region. These risks are not onlybecoming more...
Aerospace Industry: Facing strong supply chain headwinds
“Airlines depend on a reliable supply chain to operate and grow their fleets efficiently. Now we have unprecedented waits for aircraft, engines and parts and unpredictable delivery schedules. Together these have sent costs spiralling by at least $11 billion for this...
Tesla’s European regulator says door safety a ‘Key Priority’
The Dutch authority RDW, which inspects and approves Tesla’s vehicles for sale in the European Union, said Thursday that regulators will shore up rules to ensure that occupants can safely exit vehicles after a crash and be rescued by first responders Tesla Inc.’s...
UK sanctions Russia’s Lukoil and Rosneft, targets shadow fleet
"We are introducing targeted sanctions against the two biggest oil companies in Russia, Lukoil and Rosneft. At the same time, we are ramping up pressure on companies in third countries, including India and China, that continue to facilitate getting Russia oil onto...
Jio Insurance Broking earns Rs 347 cr in premiums, issues 2.9 lakh policies in Q2FY26
Jio Insurance Broking, part of Jio Financials owned by Reliance Industries, earned Rs. 347 crore in premiums and issued 2.9 lakh policies during Q2FY26 , across life, health and general insurance. It scaled up its Digital Point of Sales Person channel to over 100...
India’s FinTech boom exposes sector to rising cyber threats: PwC Report
Shah Amber, Managing Director at PwC India, emphasised that with the fintech sector projected to reach USD 400 billion by 2030, strong cybersecurity will not only protect businesses but also reinforce customer confidence.Safeguarding customer data and building digital...
Cybercrime causing global economic damage of almost US$10 tn,1% of cyber risks currently insured: Munich Re
Claudia Strametz, who leads Munich Re's business for Germany and who is responsible for cyber business in Europe said, “Over the past 10 to 15 years, cyber insurance has experienced remarkable growth, evolving from a virtually non-existent product to a global market...
Mumbai businessman loses Rs 58 crore in ‘digital arrest’ fraud
The victim transferred Rs 58 crore through RTGS in multiple bank accounts within a span of about two months.He later realised that he had been cheated and approached the cyber police with a complaint, the official said Mumbai: A 72-year-old businessman in Mumbai has...
Soteria Surveyors & Loss Adjusters enters associate agreement with Charles Taylor Marine Technical Services in Qatar and India
The associateship will ensure a rapid, consistent and expert response to claims and surveys in Qatar and India. Charles Taylor Marine Technical Services and Soteria will coordinate closely to mobilise teams for casualty investigations, hull and machinery surveys,...
Insurance Development Forum raises $340 million for Infrastructure Resilience Development Fund
This debt fund will invest in small to medium-sized commercial infrastructure projects in emerging markets and developing economies (EMDEs). It will target a diversified portfolio of resilient infrastructure, including clean water and water management, waste...
Ritu Arora appointed as Allianz Group’s Country Head of India
Ritu Arora, Country Head of India, Allianz In July 2025, Allianz announced that it had entered into a binding agreement with Jio Financial Services Limited (JFSL) to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth reinsurance...
Munich Re and New India provide first ever large parametric Pandemic Resilience cover to Mumbai’s biggest mall Phoenix Mills
``Munich Re is supporting these solutions with reinsurance capacity, however due to nature of pandemic risks no insurance balance sheet, not even one as strong as Munich Re’s, can absorb the potential losses alone. To make the consequences of a pandemic/epidemic...
Universal Sompo General Insurance ties up with AP Grameena Bank
Universal Sompo General Insurance Company has entered into a strategic partnership with Andhra Pradesh Grameena Bank (APGB) to offer customized products for rural and agrarian communities, addressing key risks such as crop loss, property damage, and health emergencies...