US Treasury Secretary Scott Bessent met with insurance regulators to talk about their exposure to private credit as the increasingly complex ties between the two sectors fuels mounting regulatory scrutiny.
Prudential had paused life insurance sales in Japan for three months to restore trust after an investigation showed employee misconduct cost clients an estimated $20 million.
Poland’s biggest insurance company PZU SA agreed to buy MetLife Inc.’s Ukrainian unit, marking a significant expansion into the war-torn market as Warsaw seeks a leading role in the country’s reconstruction.
The Gurgaon Fire Department’s only hydraulic ladder has been lying defunct at the DLF Sector 29 fire station for the last year and a half. In any case, the ladder is designed to reach only up to 42 metres – or about 14 storeys.
Ghaziabad Chief Fire Officer Rahul Pal said the Fire Department has only 22 fire tenders for the whole of the district with an area of about 780 sq km and a population of 4.7 million (2011 Census).
Existing fire insurance is mainly corporate or industrial – in the absence of a regulatory requirement, not many individual homeowners voluntarily opt for cover.
“I had put all my savings in our home. There is nothing left,” businessman Anurag Sharma, who lives in a tenth floor flat, said. “My wife had gone to drop our children to school when the fire broke out.…
