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LIC launches special campaign to revive lapsed policies
All policies except ULIP (Unit linked Insurance Plan) can be revived within 5 years from date of the first unpaid premium subject to policy conditions, LIC said in a statement Mumbai: Insurance behemoth Life Insurance Corporation of India (LIC) on Tuesday announced...
Andrew Hare appointed as managing director, APAC at RMS
Hare said, “Climate change and natural catastrophes, such as flood, fire, earthquake, and typhoon, continue to wreak havoc on the Asia-Pacific region. Following the devastating effects of the Covid-19 outbreak as well as chronic supply-chain disruptions, heightened...
Global reinsurers shift their business mix into casualty & specialty primary lines for price comfort
Even with rate increases, most reinsurers view current pricing on property catastrophe risks still not high enough to compensate for the ongoing level of uncertainty, whereas casualty and specialty primary lines are more attractive as they comparatively generate more...
Scope of EU ban on Russian coal and fertilizers jolts insurers
“The prohibition relating to coal and to certain fertilizers refers both to the “purchase” and the “transfer” of these goods, irrespective of final destination,” Arianna Podesta, a European Commission spokeswoman, told Bloomberg in an email. Those sanctions extend to...
Rakesh Jhunjhunwala’s near $4-bn stock holdings in focus after death
Rakesh Jhunjhunwala Jhunjhunwala's top holdings by market value include Star Health & Allied Insurance Co., footwear maker Metro Brands Ltd. and automaker Tata Motors Ltd. Jhunjhunwala held stakes of more than 10% in Star Health, IT firm Aptech Ltd. and videogame...
Funds for ABDM implementation to be given on performance of states, UTs in recording data: NHA
R S Sharma, CEO, NHA This performance-based fund allocation will help in structured implementation of ABDM at the state and UT level, with verified entries strengthening the key national registries being built under the scheme, an NHA statement said R S Sharma, CEO,...
Ratan Tata invests in senior citizen companionship-as-service startup Goodfellows
"You do not know what it is like to be lonely until you spend time alone wishing for companionship," the 84-year Tata, a bachelor, said, appreciating Naidu's ideation and also forgiving his mentee for the time he spends away from the office Mumbai: Industry leader...
India Inc expected to give 10 pc hike in 2023; highest in APAC: Report
“Last year saw actual salary increments being higher than budgets and this was largely due to better-than-expected business performance and the need to retain talent. Despite the economic headwinds, higher projections for 2023 reflect cautious business optimism and a...
Fairfax-backed 5-yr old Go Digit General Insurance files DRHP with Sebi for IPO
Prem Watsa, CEO, Fairfax The proceeds from its fresh issuance are worth Rs 1250 crore and will be utilised for the augmentation of the company’s capital base and maintenance of solvency levels and general corporate purposes Fairfax owned by Indian born Canadian...
Full-scale nuclear war could kill 5 billion people, shows new study
Even a relatively small-scale conflict would have devastating consequences for global food production. A localized battle between India and Pakistan would see crop yields decline by an estimated 7% within five years, the study suggested, while a US-Russia war would...
Caste in California: Tech giants confront ancient Indian hierarchy
The update came after the tech sector - which counts India as its top source of skilled foreign workers - received a wake-up call in June 2020 when California's employment regulator sued Cisco Systems on behalf of a low-caste engineer who accused two higher-caste...
Luxury carmakers see record sales in 2022 on festive push
''We are hoping that the demand for luxury cars will exceed the pre-pandemic level of 2019, which was the highest ever while the demand for Lexus in India has crossed our highest ever demand this July since the launch of operations in 2017,'' Lexus India President...
Modi says India aims to become developed nation in 25 years
"We must turn India into a developed country in the next 25 years, in our lifetime," said the 71-year-old Modi, wearing a turban in the colours of the Indian flag, in his 75-minute-speech in Hindi The World Bank currently categorises India as a lower-middle income...
Govt plans a new tax regime, reviews current exemption system for individuals
Eventually, sources said, the government aims to establish a system where there are no exemptions and the complex old tax regime with exemptions and deductions is terminated The intention behind the move was to provide significant relief to the individual taxpayers...
FPIs invest Rs 22k cr in Indian markets in Aug as inflation concerns soften
Between October 2021 till June 2022, FPIs sold Rs 2.46 lakh crore in the India equity markets. "As long as energy prices remain low and there are no surprises from the war zone, foreign flow is likely to continue," Vijay Singhania, chairman at TradeSmart, said New...
Glenmark, Sun Pharma, Dr Reddy’s and Jubilant Cadista recall multiple products in the US market
The affected lot has been produced at the company's Halol plant in Gujarat and distributed in the US by Cranbury-based Sun Pharmaceutical Industries, Inc New Delhi: Leading generic drug makers Glenmark, Sun Pharma, Dr Reddy's and Jubilant Cadista are recalling...
PM may announce ‘Heal in India’, ‘Heal by India’ projects on I-Day: Report
Inclusion of the Quadrivalent Human Papillomavirus vaccine (qHPV) against cervical cancer in the National Immunisation Programme and the expansion of the National Health Mission under a new name 'PM Samagra Swasthya Mission' may also figure in Modi's speech from the...
Lok Adalat settles Rs 25.98 crore of MACT cases
The settlements with regards to the Negotiable Instruments (NI) Act cases amounted to Rs 88.39 crore, which was the maximum of settlements, followed by other civil matters at Rs 36.48 crore and Motor Accident Claims Tribunal (MACT) cases at Rs 25.98 crore, the...