Allianz Commercial managing director UK Nadia Côté has left the insurer to join RSA as CEO Europe. She only assumed the Allianz Commercial role in May 2023, after the new trading arm was created featuring an integrated approach for Allianz Global Corporate & Specialty and mid-sized country-based accounts. An Allianz spokesperson said: “We can confirm … Read more
The government’s FY25 capex target of ₹11.11 lakh crore may see some undershooting, but spending will still surpass last year’s ₹9.5-lakh crore outlay, said Ajay Seth, Secretary of the Department of Economic Affairs (DEA), in a conversation with CNBC-TV18. During a panel discussion at FICCI’s 97th AGM and Annual Convention, Seth emphasised the government’s commitment … Read more
Aqueous Underwriting has confirmed Allianz pulling back capacity on SME package, as it revealed a three-year deal with A+ rated insurers Allied World and Sompo. Only last year Aqueous signed a three-year capacity deal with the insurer to push on SME business. Aqueous claimed Allianz’s pull back followed a “mutual agreement reflecting differing strategic objectives”. … Read more
The government may consider relaxing cash management guidelines in the fourth quarter of FY25. This could relax expenditure caps traditionally enforced in the January-March quarter. As per the cash management guidelines, public expenditure is capped at 33% of the budget estimates (BE) for ministries during Q4, with a 15% cap for March alone. While no … Read more
After the Group of Ministers (GoM) appointed by the GST Council suggested exempting health insurance and term life insurance from GST, all eyes have been on when the GST Council considers the suggestions and whether it does so positively. Various reports suggest that the GST Council is expected to meet in November post the state … Read more