Latest India Headlines
All the headlines from our India Topic Page, ordered by recency.
India’s Product Recalls Bring New Business for Insurers Such as AIG, Allianz
Jul 23 2015 // 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...
Fairfax Offers to Buy 26% of Indian Brokerage IIFL for $255 Million
Jul 14 2015 // 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...
Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re
Jul 14 2015 // Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural...
Altitude Risk Adds General Insurance Corp. of India to Capacity Providers
Jul 8 2015 // Altitude Risk Partners, Castel’s global aviation and space underwriting business, announced that it “has added the General Insurance Corporation of India [GIC], the world’s 15th largest reinsurer, to its...
India’s GIC Re Posts $455 Million Profit for Fiscal 2014-15
Jun 2 2015 // General Insurance Corporation of India (GIC Re), the sole Indian Reinsurer, announced that it has earned a profit before tax of $455 million during the year 2014-15 with a growth of 22.75 percent. The profit after tax...
El Nino Emerges; Asia-Pacific Region Faces Months of Disruptive Weather
May 13 2015 // In 2009, the El Nino brought the worst drought in four decades to India. It razed wheat fields in Australia and damaged crops across Asia. Food prices surged. A closely watched forecast by Japan on Tuesday confirmed its...
No Libel in HBO Sporting Goods Child Labor Broadcast, Jury Says
May 11 2015 // A U.S. jury cleared HBO of libel claims on Friday in a lawsuit brought against the Time Warner Inc. subsidiary by a British sporting goods company over a report linking it to child labor in India. Miter Sports...
India’s Raise of Foreign Insurers’ Investment Cap a ‘Positive Step’: AIA
May 6 2015 // Stephen Simchak, director of international affairs for the American Insurance Association (AIA) In his testimony before the U.S. International Trade Commission (ITC) on trade and investment policies in India. Has welcomed...
Europe Calls for Tougher Limits on Super Greenhouse Gases (HFCs)
May 1 2015 // The European Commission on Thursday called for a tougher U.N. Montreal Protocol to protect the ozone layer by curbing super greenhouse gases known as HFCs, that have a global warming potential thousands of times greater...
Deadly Quake in Nepal; Aftershocks, Weather Hamper Rescue: AIR Analysis
Apr 27 2015 // As scenes of devastation flashed around the world, the destruction and loss of life from the most severe earthquake to hit Nepal in 80 years has become apparent. Catastrophe modeling firm AIR Worldwide said the quake...
Patriot National Buys Software Firm, Vikaran, and India Development Unit
Apr 20 2015 // Florida-based workers’ compensation outsourcing services firm Patriot National Inc. has acquired Vikaran Solutions, a Chicago-based insurance technology company, and its Pune, India-based software development center,...
A.M. Best: India Law to Raise Foreign Investment Interest in Insurance Sector
Mar 24 2015 // There will be heavy interest fromforeign 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...
India Insurance Bill Could Attract More Than $3 Billion in Foreign Investments
Mar 13 2015 // 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...
India Raises Insurance Investment Cap in First Big Win for Modi
Mar 12 2015 // India’s parliament voted to increase the foreign investment limit in the insurance industry, the first major legislative victory for Prime Minister Narendra Modi as he seeks to overhaul Asia’s third-biggest...
Low Insurance Penetration Creates Asia-Pacific Opportunities: Aon Benfield
Mar 11 2015 // As rapid economic development, population growth and urbanization lead to increased insurance penetration, Asia Pacific represents a key area of growth in the global marketplace, according to a report published by Aon...
India Tops List of Countries at Risk From River Flooding, Analysis Shows
Mar 5 2015 // 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...
Willis Signs Indian Market Joint Venture with Almondz Insurance Brokers
Feb 25 2015 // Willis Group Holdings plc announced that it has agreed to purchase a 49 percent stake in Almondz Insurance Brokers Private Limited, an Indian insurance broker with nearly 300 associates in nine offices in India serving...
RSA Sells 26% Holding in India’s Royal Sundaram Alliance Insurance
Feb 18 2015 // RSA Insurance Group plc announced that it agreed the sale of its 26 percent holding in Indian insurer Royal Sundaram Alliance Insurance Company Limited to Sundaram Finance Limited, its joint venture partner. RSA expects to...
Alabama Police, City Sued by Tourist Visiting from India After Assault
Feb 17 2015 // A man from India who was slammed to the ground by a police officer had been singled out by police after a caller said a “skinny black guy” with a toboggan hat was walking in the neighborhood and peering into...
Best Affirms Ratings of General Insurance Corporation of India
Feb 9 2015 // A.M. Best has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of India’s General Insurance Corporation of India (GIC Re), both with stable...
