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Shipping losses fall, but Ukraine war, costly issues with large vessels muddy the waters: Allianz
“The insurance industry is likely to see a number of claims under specialist war policies from vessels damaged or lost to sea mines, rocket attacks and bombings in conflict zones.Insurers may also receive claims under marine war policies from vessels and cargo blocked...
EU drops plan to stop tankers moving Russian oil anywhere, to disallow insurance of shipments
But current proposals will nevertheless make life considerably harder for Moscow, assuming they are adopted. The ban on providing insurance would span the vast majority of the global fleet of oil tankers seeking to transport Russian barrels Tanker companies insure...
NSE Academy ties up with RIMS for risk management education
In addition to the certification opportunities, NAL and RIMS will jointly deliver ‘Introduction to Cyber Risk and Data Security’ and ‘Risk Management Techniques’ self-learning online courses. NAL and RIMS also plan to deliver a series of Masterclasses (focused topical...
Visakhapatnam port suspends operations due to cyclonic storm Asani
Cyclone Asani, which formed over the southeast Bay of Bengal, intensified into a severe cyclonic storm on Sunday, as it moved towards the southern state of Andhra Pradesh and the eastern state of Odisha. NEW DELHI: India's Visakhapatnam port will suspend operations...
Jan Suraksha schemes bring insurance, pension within reach of common man: FM
Finance Minister Nirmala Sitharaman Under PMJJBY, a cumulative number of 12.76 crore persons have enrolled since inception for life cover, and families of 5,76,121 persons have received claims for Rs 11,522 crore under the scheme. The scheme has proved extremely...
UAE to introduce unemployment insurance in latest economic reforms
Insured workers would receive some money for a limited time period if made unemployed, UAE Prime Minister and Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also the ruler of Dubai, said on Twitter, citing a cabinet decision Dubai: The United Arab...
LIC IPO subscribed nearly 3 times; share allocation on May 12
Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received, according to data posted on stock exchanges at 7 pm. LIC had fixed the price band at Rs 902-949 per equity share Bidders in LIC IPO will be allocated shares on May 12, and the insurance behemoth...
Rs 7.73 trn crore of investors’ wealth depleted in two days amid market collapse
Foreign institutional investors continued their selling spree, offloading shares worth a net Rs 5,517.08 crore on Friday, according to stock exchange data. "There seems to be no respite for the markets from the bear hug as the weak Asian gauges and fall in European...
Investment banks forgo bumper fees for league rank in mega LIC IPO
The 10 advisers who manage the initial public offering They will receive around Rs 10 million ($129,000) each for their role in the deal, a fraction of what they would normally pocket for a deal of this size Mumbai: investment banks advising on the initial public...
LIC IPO: QIB portion fully subscribed on last day, FIIs steer clear
Foreign institutional investors have on the whole steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the global market backdrop. The non-institutional investors' portion was subscribed 1.38 times. Retail individual investors...
IBA and 2 Insurance Councils want an IT vendor for setting up a single repositary for 35 crore Jan Suraksha schemes
`The existing data of Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana of approximately more than 35 crore customers since the start of the schemes(2015) need to be migrated from the individual/banks and insurers to the repository,’’...
Blast at India’s Tata Steel coke plant injures three contract workers
The unit was not operational and was undergoing a dismantling process, Tata, India's largest steelmaker by revenue, said in a statement, adding that production has not been impacted MUMBAI: Tata Steel said three contract workers had been injured in a blast at one of...
Severe cyclone Asani raging in Bay of Bengal,not to make landfall either in Odisha or Andhra Pradesh
The system will not make landfall either in Odisha or Andhra Pradesh, IMD Director-General Mrutunjay Mohaptra had said on Sunday. He said the cyclone will move parallel to the east coast and cause rainfall from Tuesday evening New Delhi: Asani, the severe cyclonic...
China strives for global dominance through seaport control
The experts pointed out that, of the 96 ports owned by Chinese companies around the world, several are at key locations for maritime trade, "giving Beijing strategic dominance without having to deploy a single soldier, ship or weapons." It is estimated that China now...
China’s population declined in 10 provincial-level regions in 2021
According to the seventh nationwide census of 2020, China's population on the mainland has grown by 0.53 per cent annually on average in the past decade. China's population reached 1.41 billion as of the end of 2021, up by 480,000 from the previous year, according to...
Foreign funds’ share in India equities at 19.5%, lowest since March ’19
The record fall was mainly due to the massive outflows of USD 5.4 billion in March and a whopping USD 15.7 billion in FY22. Such a massive pullout came after they pumped in USD 23 billion in 2020 and USD 3.7 billion in 2021 New Delhi: Foreign funds' ownership in...
LIC IPO subscribed 1.79 times on Day 5; offer closes on Monday
The Qualified Institutional Buyer (QIB) category is yet to be fully subscribed. Bids were received for 0.67 per cent of the shares earmarked for the segment, showing a poor response. Mumbai: Life Insurance Corporation's IPO, the country's biggest public offer, was...
Aila, Amphan, Asani: How A Cyclone is Named?
Each tropical storm is given a name to avoid confusion, facilitating disaster risk awareness, management and mitigation Bhubaneswar: Every year, as a cyclone looms over a region, its name becomes a cause of intrigue for many, who wonder why and how is the storm...