Gujarat International Finance Tec-City, India’s newest financial hub and a flagship project of Prime Minister Narendra Modi, is preparing for its next phase of growth. The first phase followed the creation in 2020 of a new regulator, the International Financial …
For nearly a week, 40 workers have been trapped in an under-construction tunnel after a landslide demolished its entrance, derailing a major connectivity development in India’s mountainous state of Uttarakhand. Since Nov. 12, rescue teams have employed a slew of …
Indian startup InsuranceDekho has raised $60 million in Series B funding, driving the online insurance seller’s valuation to more than $650 million. Investors including Japanese giant Mitsubishi UFJ Financial Group Inc. and insurer BNP Paribas Cardif participated in the funding …
Global Insurance Brokers, a major provider of risk management, insurance, and reinsurance broking services in the Indian subcontinent, announced its acquisition by Aon plc. Financial details of the deal, which is subject to regulatory approval, were not disclosed. Aon and …
Indian authorities sent a $208 million tax demand to a private insurer, the latest in a growing list of firms slapped with similar notices as the government intensifies its crackdown on alleged evasion. ICICI Lombard General Insurance Co. Ltd. received …
Reliance Industries Ltd. is in discussions with global and domestic executive headhunters to find a leader for Jio Financial Services Ltd.’s newly created insurance business, according to people familiar with the matter. Executives from Reliance have met several firms in …
U.S. insurer Chubb is in talks to acquire a 49% stake in India’s Kotak General Insurance and has become a more favored suitor than Zurich Insurance Group, two people with direct knowledge of the discussions said. Chubb has an edge …
Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance …
Billionaire Ajay Piramal and TPG Inc. are considering selling their stakes in Shriram General Insurance Holdings Co., according to people familiar with the matter. Piramal and TPG are jointly working with an adviser on divesting a combined 30% stake in …
Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion. PhonePe, already India’s most valuable payments firm and among the country’s most highly valued startups, …
