India News

AIG, Other Insurers Avoid Offering Cover for Tax Risks in Indian M&As

Prime Minister Narendra Modi needs to offer much more than just his best intentions to clean up India’s whimsical tax regime to help convince insurers. Companies from Allianz SE to American International Group Inc. are avoiding offering tax-liability coverage in …

India’s Product Recalls Bring New Business for Insurers Such as AIG, Allianz

As Nestle SA slugs it out with India’s food regulator over the amount of lead in its popular Maggi instant noodles, the dispute is whipping up business for insurers. The local unit of American International Group Inc. is predicting a …

Fairfax Offers to Buy 26% of Indian Brokerage IIFL for $255 Million

Fairfax India Holdings Corp., the $1 billion fund created by Toronto-based investor Prem Watsa, offered to buy 26 percent more in Indian brokerage IIFL Holdings Ltd.* for $255 million. Fairfax India announced an offer to purchase about 83.1 million shares …

Uber Seeks Dismissal of Lawsuit In Alleged Delhi Rape

Uber asked a U.S. court to dismiss a lawsuit filed by an alleged rape victim in India’s capital, saying the ridesharing company could not be held legally responsible for the driver’s acts. The passenger, who reported being raped and beaten …

A.M. Best: India Law to Raise Foreign Investment Interest in Insurance Sector

There will be heavy interest from foreign investors in India’s insurance sector now that global insurers are permitted to increase their stakes in Indian companies, according to a new briefing from A.M. Best. The Best’s briefing, titled “India’s New Legislation Will Draw …

India Insurance Bill Could Attract More Than $3 Billion in Foreign Investments

Indian companies with insurance ventures, including Max India Ltd. and Reliance Capital Ltd., are poised to benefit from higher foreign-shareholding limits that may draw more than $3 billion from overseas investors. The passage of a bill raising the amount foreign companies can …

India Tops List of Countries at Risk From River Flooding, Analysis Shows

Gross domestic product at risk of flooding in India, the world’s second-most populous nation, may surge 10-fold by 2030 as cities expand and climate challenges worsen, according to the World Resources Institute. A new online global flood-analyzing tool developed by …

Factbox: U.S.-India Nuclear Deal Designed to Address Industry Liability

The nuclear “breakthrough understanding” between President Barack Obama and Prime Minister Narendra Modi seeks to allay U.S. concerns about industry liability and unlock billions of dollars in investments into Indian power projects. Here’s a Q&A that lays out some of the detail of the …

Insurance Pool May Unlock India-U.S. Atomic Trade

Prime Minister Narendra Modi and U.S. President Barack Obama unveiled a plan centered on insurance on Sunday that they hope will convince U.S. companies to build nuclear power stations in India, but stopped short of demands to soften a liability law. With the 1984 Bhopal gas tragedy …

Attempt in India to Raise Foreign Ownership Cap for Insurance Hits Logjam

Indian Prime Minister Narendra Modi risks failing to win approval from lawmakers for one of his biggest policy changes yet, a setback that dims prospects for other key bills until he wins greater sway in the upper house. In a …