Emerging Markets
India Further Opens Its Insurance Sector to Foreigners
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 ...
Australia Set to Rescue Thousands From Sydney’s Worst Floods in 60 Years
Australia was set on Monday to evacuate thousands more people from suburbs in Sydney's west, battered by the worst flooding in 60 years, with torrential rains expected to continue for another day or ...
Allianz Commits $75 Million, Strategic Partnership to Hong Kong Fintech WeLab
Allianz's technology investment arm is committing $75 million to WeLab, a Hong Kong-based fintech focused on virtual banking, consumer financing and other related digital services. The deal also ...
India Proposes Further Insurance Company Ownership Limits for Banks
India's central bank wants banks to limit ownership stakes in capital intensive insurance companies at a maximum 20%, less than half of what the current regulations permit, three sources with ...
Executives On The Move at Zurich and The Standard
Zurich Insurance appointed one executive to run its Nordic business and expanded his management facility. He replaces another executive who will take on a new leadership role. The Standard promoted ...
Brazil Group Sues Norwegian Aluminum Producer Over Alleged Toxic Waste Pollution
Some 40,000 Brazilians are bringing a group-action lawsuit against Norwegian aluminum producer Norsk Hydro for what they say is toxic waste pollution the company is causing in northern Brazil. The ...
China’s Ping An Insurance Reports First Annual Profit Drop Since 2008
Ping An Insurance Group Co of China Ltd , China's largest insurer by market value, on Wednesday reported its first annual fall in profit since 2008, as COVID shutdowns hampered business growth. The ...
India’s Insurers Poised to Attract Western Investment After Rule Changes
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 ...