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Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
New Delhi, Feb 24 (PTI) Omnitech Engineering, a manufacturer of precision-engineered components, on Tuesday raised over Rs 174 crore from anchor investors, a day before the opening of its initial share-sale for public subscription. The anchor book saw participation from several domestic and global investors, including ICICI Prudential Mutual Fund (MF), Nippon India MF, WhiteOak Capital MF, Ashoka India Equity Investment Trust Plc, Malabar India Fund, Edelweiss MF and Allianz Global Investors, a ...Read More >
Mumbai: Jio Financial Services Limited (JFSL) has announced a special festive campaign "Jio Gold 24K Days", which allows customers to start investing in gold with as little as Rs 10. The scheme also gives buyers a 2 per cent gold bonus and prizes worth Rs 10 lakh on purchases made during Dhanteras and Diwali. As part of the limited-period offer, customers purchasing digital gold worth Rs 2,000 or more between October 18 and 23, 2025, through the JioFinance or MyJio apps, will receive 2 per cen ...Read More >
MUMBAI: A close to 29% jump in equity investments has pushed up the average wealth of households, measured in terms of gross financial assets, by 14.5% in 2024, which though on an annualized basis is up only 20 bps from 14.3% in the previous year, even as the household debt ratio climbed to 41, up 8 percentage points over the last decade, and does wealth inequalities, according to a report. It can be noted that over the past two decades, the real per capita financial assets of households have s ...Read More >
BENGALURU: Macquarie Asset Management (MAM) has raised $405 million for Vertelo, its fleet electrification platform in India, marking the firm's largest investment commitment in the electric vehicle (EV) sector in Asia.Vertelo was created and is operated by Macquarie Asset Management. The platform, launched in April 2024, provides integrated solutions to support EV fleet adoption, including leasing and financing, charging infrastructure, energy management, fleet operations, and end-of-life asset ...Read More >
Mumbai: After partnering with US-based investment powerhouse BlackRock and making its official entry into the mutual fund sector of India, businessman Mukesh Ambani's Jio Financial Services Limited has joined hands with Allianz Group to dominate the reinsurance sector in India. Both companies entered the reinsurance sector through their wholly owned subsidiary, Allianz Europe BV, with a 50:50 joint venture. In its exchange filing, JFSL informed about its latest partnership, stating that it will ...Read More >
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More >
Hyderabad: Heritage Foods Limited, a leading Indian dairy brand, reported its highest-ever quarterly revenue of Rs11,368 million for the first quarter of FY26, registering a 10% year-on-year growth despite headwinds from unseasonal rainfall across its key markets. The company, which is celebrating 34 years of operations, attributed its strong performance to steady progress in milk procurement, resilient milk and value-added product (VAP) sales, and its continued focus on quality, innovation, an ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL deep local expertise and robust digital footprint with Allianz strong underwriting and global reinsurance capabil ...Read More >
Srinagar: The Counter-Intelligence Kashmir (CIK) unit of Jammu and Kashmir Police is conducting searches at ten locations across four districts in the Valley. An official told news agency -- Kashmir News Observer (KNO) that the raids are part of an ongoing investigation into a terror-crime case linked to a terrorist sleeper cell and recruitment module handled by Jaish commander Abdullah Ghazi from across the border. The searches are underway at one location in Pulwama, six in Ganderbal, one in ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL's deep local expertise and robust digital footprint with Allianz's strong underwriting and global reinsurance cap ...Read More >
Kolkata: Bandhan Bank's net profit in the first quarter of FY 2026 recorded a 65% slump at Rs 372 crore compared with Rs 1,063 crore posted in the year-ago period. Partha Pratim Sengupta, MD and CEO of the bank, attributed the decline to stress in microfinance asset.Even though the bank's total business grew by 11% to Rs 2.8 lakh crore last year, a 119% rise in provisions due to write-offs and high slippages in the microfinance book brought its Q1 net profit down, Sengupta said. "The loan book c ...Read More >
New Delhi, Jul 18 (PTI) Jio Financial Services Limited (JFSL) and Allianz Group of Germany, through its wholly-owned subsidiary Allianz Europe B.V., entered into a binding agreement on Friday to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. The announcement comes months after Allianz parted ways with Bajaj group financial services firm Bajaj Finserv. The reinsurance partnership will bring together JFSL's deep local expertise and ...Read More >
Hyderabad: National Insurance Awareness Day is celebrated every year on June 28. This day focuses on the importance of having insurance and helps people understand its benefits. It also reminds everyone to regularly check their insurance plans to ensure they are current and meet their needs. Insurance offers security, covering loved ones and recovering losses in the event of damage, illness, or death. From term insurance to life insurance, to health insurance, to home insurance, to car insuranc ...Read More >
New Delhi: Sajjan Jindal-led JSW Paints' Rs 12,915-crore deal to acquire Dutch paint maker Akzo Nobel's India unit is among the biggest transactions in the country so far this year. JSW Paints on Friday announced that it will buy a 74.76 per cent stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling tad over Rs 12,915 crore. It is slightly behind Japan's Sumitomo Mitsui Bankin ...Read More >
Calls for opening up the insurance sector to higher foreign investment limit are getting louder, and necessary legislative steps in this regard could be taken during the ongoing Winter Session of Parliament. The foreign direct investment (FDI) limit in the insurance sector will likely be raised to 100% from 74%, CNBC-TV18 reported on November 26, citing sources who wished not to be identified. The channel also reported that insurance companies will possibly be allowed composite licences, with ...Read More >
NEW DELHI: Government is all set to allow 100% foreign direct investment in insurance business, paving the way for large companies to enter the market on their own, while allowing individual insurance agents to hawk policies of multiple companies, lifting the cap on being associated with only one life and general insurer. The twin measures are part of the Insurance Amendment Bill that is proposed to be introduced during the winter session of Parliament that kicks off later this month. On Augus ...Read More >
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