Indian market News

Facebook’s WhatsApp to Expand Indian Partnerships to Offer Pensions, Insurance

Facebook Inc.’s WhatsApp plans to team up with more Indian lenders to expand banking services in rural areas and for lower income individuals, the messaging platform’s country head said on Wednesday. WhatsApp, which counts India as its biggest market with …

QBE Sells Stake in India Insurance Joint Venture to Fintech Platform Paytm

India’s financial technology platform Paytm is set to acquire Mumbai-based private sector general insurer Raheja QBE General Insurance Co. Ltd. The acquisition is subject to customary conditions, including approval from the Insurance Regulatory and Development Authority of India (IRDAI). Financial …

India Investigator Recommends Moving S. Korea-Owned Plant After Gas Leak

CHENNAI/SEOUL – An investigation into a deadly gas leak at a South Korean-owned chemical plant in southern India that killed 12 people in May recommended the factory be moved away from inhabited areas, according to its full report released on …

Cyclone Nisarga Lashes India’s Business Capital, Forcing Evacuation of 100,000

A cyclone made landfall Wednesday south of India’s financial capital of Mumbai, with storm surge threatening to flood beaches and low-lying slums as city authorities struggle to contain the coronavirus pandemic. Live TV coverage showed inky black clouds framing the …

India Releases Safety Guidelines on Restarting Factories After LG Chem Gas Leak

India has released safety guidelines for restarting manufacturing industries as it partially eases the world’s most expansive pandemic lockdown and tries to avoid further incidents after a gas leak last week. While restarting units, companies must consider the first week …

Gas Leak at LG Chem Plant in India Kills at Least 7, Forcing Evacuation of Thousands

An overnight gas leak at an LG Chem Ltd. polymer plant in southern India has killed at least seven people and forced the evacuation of thousands in the city of Visakhapatnam after the company tried to restart operations following the …

Gallagher Releases Pandemic Group Insurance Product for India’s Front-Line Workforce

International insurance broker Gallagher announced the release of a Pandemic Group Insurance product, providing a comprehensive COVID-19 indemnity cover solution to the India market. For essential workers and front-line services including hospital and healthcare providers, food distribution, and pharmaceutical manufacturers, …

AIR Worldwide Launches Multi-Peril Crop Insurance Model for India

Catastrophe risk modeling firm AIR Worldwide (AIR) announced it has released a Multiple Peril Crop Insurance (MPCI) Model for India to help support probabilistic assessments of potential losses caused by yield shortfalls for 11 major crops across the two main …

Arthur J. Gallagher Finalizes Purchase of Stake in India Broker Edelweiss

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has completed the purchase of a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a subsidiary of India’s leading diversified financial services conglomerate, Edelweiss Group. Financial details of …

India’s Reliance Capital Ends Talks to Sell Its General Insurance Unit

Reliance Capital Ltd. has called off a sale of its general insurance unit to Hero Fincorp, forcing embattled Indian tycoon Anil Ambani to look for options as he seeks to reduce debt, people familiar with the matter said. The talks …