India on Monday further opened up its insurance sector to foreigners, as the nation seeks to spur investments to give a fillip to an economy battered by the pandemic. Lawmakers approved a legislation increasing the limit on foreign direct investment …
NEW DELHI – The Indian government on Monday said it plans to raise limits on how much foreign companies can invest in the country’s insurance industry, a move that could attract inflows from U.S. and European insurers. Finance Minister Nirmala …
Insurer broker Aon has acquired a 49% equity stake in Anviti Insurance Brokers Pvt. Ltd, a fast-growing, composite broking firm in India. Anviti will transition to the Aon brand pending regulatory approvals. Financial details of the deal were not disclosed. …
CHENNAI – A cyclone that brought heavy rain to parts of southern India and neighboring Sri Lanka has weakened into a “practically stationary” deep depression, India’s weather office said on Friday. It was not immediately clear how much damage the …
COLOMBO — The Burevi tropical cyclone is headed towards southern India, authorities said on Thursday, after it slammed Sri Lanka’s east coast earlier this week but caused little damage. The India Meteorological Department (IMD) issued a “red” warning to parts …
India is planning to seek cabinet’s approval to sell 25% stake in the nation’s largest life insurer, people with knowledge of the matter said, as Prime Minister Narendra Modi seeks resources to plug a widening budget gap. The government plans …
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 …
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 …
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 …
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 …
