by AIP Online Bureau | Dec 18, 2019 | International News, Non-Life
PSA Group and Fiat Chrysler Automobiles NV agreed to combine in a deal that will create the world’s fourth-biggest auto manufacturer. The French and Italo-American carmakers signed a binding accord for a 50-50 merger of their businesses, they said...
by AIP Online Bureau | Dec 18, 2019 | Indian News, Risk Management
Infosys, India's top IT major, has agreed to pay $800,000 to settle allegations of misclassification of foreign workers and tax fraud, officials announced Tuesday. Infosys will pay California $800,000 (nearly Rs 56 crore) to resolve allegations that between...
by AIP Online Bureau | Dec 18, 2019 | Eco/Invest/Demography, International News, Non-Life, Risk Management
Boeing next month will temporarily stop making the 737 Max, its most popular passenger jet, the company said on Monday.The decision, after a two-day board meeting, is the culmination of the worst crisis in the company’s 103-year history and follows two...
by AIP Online Bureau | Dec 17, 2019 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
An oil tanker was attacked on Sunday in West Africa’s Gulf of Guinea and most of its crew were kidnapped, the latest in a string of incidents highlighting the security risks to shipping in the region. The vessel — an oil products tanker named...
by AIP Online Bureau | Dec 17, 2019 | Eco/Invest/Demography, International News, Regulation, Risk Management
London: Britain’s Financial Conduct Authority (FCA) is investigating whether sharing data with outside competitors could be extended beyond banks to savings, insurance, mortgages, investments, pensions and consumer credit to increase innovation and...
by AIP Online Bureau | Dec 17, 2019 | International News, Non-Life, Reinsurance
A tentative $25 million settlement revealed last Wednesday to end nearly every sexual misconduct lawsuit brought against Harvey Weinstein and his former film studio’s board has been praised by a plaintiff and some lawyers but criticized by others who say...
by AIP Online Bureau | Dec 17, 2019 | Eco/Invest/Demography, International News, Pension & Social Security
LONDON:- The UK bulk annuity market, which involves insurers taking on the risk of company pension schemes, has soared to record levels above 40 billion pounds ($51 billion) in 2019 and is expected to stay strong as costs fall, advisers said. Bulk...
by AIP Online Bureau | Dec 17, 2019 | Indian News, Non-Life
Mumbai: SBI chairman Rajnish Kumar on December 17 said it will take up to three years more to list its general insurance arm. The bank will list its asset management company before SBI General Insurance, Kumar said while speaking at the India Economic Conclave...
by AIP Online Bureau | Dec 17, 2019 | Banking & Bancassurance, Indian News, Intermediaries
Mumbai: Complaints to banking ombudsman rose by nearly 20 per cent to over 1.96 lakh during 2018-19, with non-adherence to fair practices accounting for the highest number of cases, RBI data released Tuesday showed. Non-observance of fair practices code...
by AIP Online Bureau | Dec 17, 2019 | Eco/Invest/Demography, Indian News
Mumbai: The International Monetary Fund is set to join other downbeat analysts and cut the growth estimate for India "significantly", its India-born chief economist Gita Gopinath said on December 17. The Washington-based institution had come...
