Indian market News

Freak Weather Risks India’s Renewable Energy Goals, Affecting Insurers, Lenders

India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather. Freak climatic conditions are damaging renewable energy projects, threatening a business which survives on wafer-thin …

India Weighs Easing Foreign Investment Rules in Sectors Such as Insurance

The Indian government on Friday [July 5] said it will consider further liberalizing foreign direct investment (FDI) rules in certain sectors, part of its efforts to make Asia’s third-largest economy a more attractive investment destination. Presenting the annual budget for …

Arthur J. Gallagher Buys Minority Stake in India’s Edelweiss Insurance Brokers

Arthur J. Gallagher & Co. announced it has purchased a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a wholly owned subsidiary of Edelweiss Group, the Indian diversified financial services conglomerate. The deal is subject to approval by the Insurance …

Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk

Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name …

India’s Shriram Capital Plans to Merge Its Units to Boost Insurance, Lending Businesses

R. Thyagarajan, founder of Shriram Capital Group, said the Indian company is getting close to merging its listed units, a move the firm hopes will help the non-bank financier boost its lending and insurance businesses. Shriram Capital, which counts billionaire …

Munich Re’s India Partner Weighs Selling Health Insurer Stake: Sources

Prathap C. Reddy and his family, founders of India’s Apollo Hospitals Enterprise Ltd., plan to sell their holdings in an insurance venture with Munich Re AG to repay debt, people with knowledge of the matter said. The family is seeking …

Generali Hikes Stake in Indian Insurance Joint Venture to 49% from 25.5%

Generali Group has finalized its agreement to increase its stake in its Indian insurance joint venture with Future Group to 49 percent from 25.5 percent. Through this transaction, Generali has committed up to approximately €120 million ($137.3 million) to its …

Indian Tech Billionaire’s Exit Pulls Corporate India Deeper into #MeToo Firestorm

The surprise resignation of an Indian tech billionaire has pulled corporate India deeper into the #MeToo firestorm that’s been sweeping through the American business community for more than a year. Walmart Inc. announced Tuesday that Flipkart co-founder Binny Bansal was …

JBA Risk Management Launches India Crop Model for Re/Insurers as El Niño Looms

JBA Risk Management (JBA), the UK-based modeling firm, has launched an India crop catastrophe model for the re/insurance market. More commonly known for flood maps and models, JBA collaborated with Chaucer through its office in Singapore to develop this probabilistic …

Indian Employers Pressured to Take More Seriously Surge in #MeToo Allegations

Pressure is building on major Indian employers to take allegations of sexual harassment more seriously after a surge in the number of complaints against prominent public figures in the past week. At least one major Indian newspaper, some politicians and …