DBS Group Holdings Ltd. is considering forming insurance partnerships in India and Taiwan to expand its services in the region, according to people familiar with the matter. The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser …
British insurer Aviva said on Saturday its India unit is “actively engaging” with local authorities in connection with alleged tax evasion practices. Reuters reported on Friday that an Indian tax agency has found that Aviva India breached local regulations capping …
An Indian tax agency has found that British insurer Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters. In an attempt to grow …
Zurich Insurance Group AG plans to increase headcount in India by 40% over the next three years, adding 600 people following its acquisition of a majority stake in Kotak Mahindra Bank Ltd.’s general insurance unit. The Swiss firm is pursuing …
Zurich Insurance Company Ltd. has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Co. Ltd. for US$670 million – marking the largest foreign investment in India’s general insurance market. “The transaction marks the largest foreign investment …
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 …
