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Dutch e-commerce investor Prosus to invest $100 mn in Sachin Bansal’s Navi
Sachin Bansal, founder, Navi The investment values Navi at about $1.3 billion. At present, Navi offers loans, insurance, mutual funds, and UPI payments. Mumbai: Sachin Bansal-promoted Indian fintech startup Navi said on Wednesday it will raise $100 million from Dutch...
Munich Re acquires US based cyber insurtech At-Bay for $575 million
The acquisition is a strategic move to strengthen Munich Re’s and HSB’s position as a leader in the cyber market by combining insurance with proactive risk mitigation and a state-of-the-art technology platform. It also positions the company for greater access to a...
Wall street leans on Insurance Pools for $16 billion Kuwait deal
Blackstone Inc., Brookfield Asset Management Ltd. and KKR & Co. opted for insurance-backed financing for the debt portion of the landmark deal. The decision points to the growing role of insurers as providers of long-dated capital for infrastructure assets, whose...
Sitharaman asks public sector banks to focus on youth; provide cool, simple banking to suit their needs
Finance Minister Nirmala Sitharaman Sitharaman also pointed to the perception gap between public and private sector banks among younger customers, saying private banks appeared to have an image of being banks that were "cool enough as well", and urged PSBs to keep...
Meta faces 29-state trial that could reshape Instagram and Facebook
The trial will test the four states’ allegations that Meta designed Facebook and Instagram to be addictive to children and teens and misled consumers about the safety of the platforms for young users. It will also address the claims of all 29 states accusing Meta of...
Prudential gets CCI nod to acquire 75 pc stake in Bharti Life Insurance
In May this year, UK-based Prudential plc announced that it would acquire a majority 75 per cent stake in Bharti Life Insurance for Rs 3,500 crore from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management. New Delhi:Fair trade regulator CCI on Tuesday cleared the...
Healthcare delivery capital-intensive, hospital tariffs only tip of iceberg: NATHEALTH
The Parliamentary committee had observed with concern the widening cost disparity between public and private healthcare, noting that private hospitalisation averages Rs 50,508 compared to Rs 6,631 in public facilities, saying such huge disparity has triggered a...
Govt proposes 5-yr age extension for EVs, hydrogen, CNG commercial vehicles
Under the proposed changes, the existing age limits of 12 years and 15 years for vehicles covered by the national permit system would be extended to 17 years and 20 years, respectively, for battery, hydrogen and natural gas vehicles, it added. New Delhi: The...
Envelop Syndicate 1925: Reinsurance MGA Envelop launches Lloyd’s Cyber Reinsurance Syndicate
While cyber treaty reinsurance will remain core, Syndicate 1925 will allow Envelop to expand its proposition to include other lines of business, increasing access to its proven capital management and underwriting capabilities to a broader range of partners. London:...
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General insurance industry grows 9% to ₹3.36 trillion in FY26: BCG reportt
The industry’s combined ratio deteriorated by two percentage points to 113%, while profit after tax (PAT) declined 23% YoY to ₹10,000 crore. Return on equity (ROE) fell to 6% from 9% a year earlier. Mumbai:India’s general insurance industry grew 9% year-on-year (YoY)...
Hacking group claims mass data theft from Shell, Philips, GE, Fiserv and dozens of others
While it’s not clear how the hackers allegedly accessed the companies, Ransom-ISAC, an industry information sharing group, issued a notice July 22 warning that the hacking group was exploiting vulnerabilities in PTC Windchill and FlexPLM, software used to aid in...
Munich Re reclaims top global position among IFRS 17 reporting reinsurers
Lloyd’s moved to the top of the ranking for non-IFRS 17 reinsurers, lifted by premium growth and the British Pound appreciating against the U.S. dollar. GIC Re is the 10th largest global reinsurer among non-IFRS 17 reporting reinsurers OLDWICK:Foreign currency...
Taxpayers earning Rs 100 crore-plus jump 39% to 576 in AY26: Report
As per an analysis by SBI Research, the number of taxpayers reporting income of Rs 1 crore or more increased by 14 per cent to 5,35,672 in AY26 from 4,71,419 in AY25. New Delhi: The number of taxpayers reporting annual income of Rs 100 crore or more rose 39 per cent...
Govt to announce high-level banking for Viksit Bharat panel
Nirmala Sitharaman,Union Finance Minister The Finance Minister said the Department of Financial Services (DFS) had worked on seven themes that would be important for taking the banking and financial sector forward. The themes of discussion are -- banking for youth,...
Are courts precluded from granting fair, just compensation in nuclear accident: SC asks Centre
CJI Kant said there was too much apprehension and pointed out that even if Parliament has capped the liability of operators, it does not preclude the court from granting fair and just compensation. New Delhi: The Supreme Court on Monday asked the Centre to clarify...
SEBI chief calls for collective cyber resilience as threats grow more sophisticated
Pandey emphasised that cybersecurity is no longer merely an IT concern, but a board-level, business continuity, market integrity and investor confidence issue. New Delhi: India's financial sector needs to shift from periodic cybersecurity compliance to continuous,...