Latest India Headlines
All the headlines from our India Topic Page, ordered by recency.
Zurich Insurance Adding 600 People in India Following Kotak Deal
Jun 25 2024 // 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...
Zurich Completes Acquisition of 70% Stake in India’s Kotak General Insurance
Jun 19 2024 // 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...
Canadian Billionaire Prem Watsa to Step Down as Chairman of Fairfax India
Jun 4 2024 // Fairfax India Holdings Corp. on Monday said Prem Watsa, popularly known as “Canada’s Warren Buffett,” will step down as the investment firm’s chairman. He will be replaced by his son Benjamin Watsa,...
Cyclone Lashes India, Bangladesh, Killing at Least 16, Cutting Power to Millions
May 28 2024 // Strong gales and heavy rain triggered by the first major cyclone of the year lashed the coastlines of India and Bangladesh on Monday, killing at least 16 people and cutting power to millions. The winds had not stopped as...
Russian Certifier Steps in After India Drops Safety Cover for Sanctioned Oil Tankers
May 13 2024 // India’s ship certification agency has withdrawn safety cover issued to Russian oil tankers that have been placed under U.S. sanctions, according to its website, with the vessels instead turning to a domestic...
People Moves: Aon’s Re Solutions Promotes Sapra as CEO, India; BHSI Names du Ché as France Country Mgr; AXIS Canada Launches EIL Unit, Led by Liberty Mutual’s Nagata
Apr 15 2024 // This edition of International People Moves details appointments at Aon, Berkshire Hathaway Specialty Insurance (BHSI) and AXIS Capital Holdings. A summary of these new hires follows here. Aon Promotes Sapra as CEO of...
Apple Warns of ‘Mercenary Spyware Attack’ on Users in India, 91 Other Countries
Apr 15 2024 // Apple Inc has warned its users in India and ninety-one other countries that they were possible victims of a “mercenary spyware attack,” according to a threat notification email that was sent to targeted...
India’s Navy Takes Control of Bulk Carrier Hijacked by Somali Pirates, Evacuating Crew
Mar 18 2024 // The Indian navy said late Saturday that it had taken control of a bulk carrier hijacked by Somali pirates and evacuated the 17 crew members on the vessel. In a statement on X, the navy said all 35 pirates on board the...
Severe Cyclone May Bring Floods to Parts of Southeast India
Dec 4 2023 // A severe cyclone in the Bay of Bengal is likely to cause heavy rain and strong winds across southeast India, with authorities warning of flash floods, damage to crops and power failures in some affected areas. Cyclone...
India’s GIFT-City Financial Hub Plans to Grow in Re/Insurance, Direct Listings
Nov 30 2023 // 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...
India Tunnel Collapse Shows Risk of Construction in Fragile Himalayas
Nov 20 2023 // 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...
Tankers, Newly Sanctioned by US, Supplied Russian Oil to India
Nov 17 2023 // Three oil tankers, newly sanctioned by Washington, regularly shipped Sokol crude from Russia’s Far East to Indian Oil Corp, the country’s top refiner, in recent months, according to shiptracking data from LSEG,...
Zurich Insurance to Buy 51% in India’s Kotak General for $487 Million
Nov 2 2023 // Zurich Insurance Co. has agreed to buy a majority stake in Kotak Mahindra General Insurance Co. for 40.51 billion rupees ($487 million), including infusion of fresh capital. The Switzerland-based insurer will buy 51% stake...
India Insurance Startup Raises Funds at $650 Million Valuation
Oct 11 2023 // 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...
Aon Plc Acquires India’s Global Insurance Brokers
Oct 6 2023 // 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...
India Pursues Insurance, Gaming Firms Over Alleged Tax Evasion
Sep 28 2023 // 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...
Pegatron India Fire Traced to Workers’ Failure to Turn Off Electrical Switch: Sources
Sep 28 2023 // A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter...
Apple Supplier Pegatron to Halt Assembly at India Plant for Second Day After Fire
Sep 26 2023 // Apple supplier Pegatron has told its factory workers not to report for work on Tuesday, halting the assembly of iPhones for a second straight day at its south India factory where a fire broke out on Sunday, three sources...
India’s Reliance Hunts for CEO of Jio Financial Services’ Newly Created Insurance Biz
Aug 31 2023 // Reliance Industries Ltd. is in discussions with global and domestic executive headhunters to find a leader for Jio Financial Services Ltd.’s newly created insurance business, according to people familiar with the...
India Braces for More Rain After Floods, Lightning Kill 2,000
Aug 18 2023 // Some regions of India are bracing for more torrential rain, raising the risk of further causalities after natural calamities such as floods and lightning killed 2,000 people during the current monsoon season. Rains have...
