India’s foodgrain production reached a record 332.22 million tonne in the 2023-24 crop year ended June, driven by bumper wheat and rice output, the agriculture ministry said on Wednesday. The final estimate for 2023-24 shows an increase of 2.61 million tonne from the previous year’s 329.6 million tonne, the ministry said in a statement. Rice … Read more
The US and China have cut interest rates in the past week. Will the Reserve Bank of India (RBI) follow suit in the October policy? Jahangir Aziz, Head of EM Economics Research at JPMorgan, and Luis Oganes, Head of Global Macro Research at JPMorgan, discuss China’s disinflation and slowdown, Fed rate cuts, Bank of Japan … Read more
Sompo has launched a national marine insurance proposition for the UK, which – for the first time – enables it to write marine cargo and transport and logistics policies regionally, not just in London. According to the insurer, both offerings aimed at brokers and clients across the country are designed to provide easy to understand … Read more
Markel is aiming to meet the evolving needs of the UK’s tech sector as it launches an expanded offering. MarkelTech is targeting start-ups, small and medium sized businesses, mid-market and high growth companies. The enhanced product offers a suite of coverages including professional indemnity, cyber, property, business interruption and liability covers. The specialist insurer explained … Read more
Insurers detected £1.1bn worth of fraudulent claims last year, up 4% on 2022, according to the latest cross-industry figures. The Association of British Insurers added its members identified 84,400 fraudulent claims in 2023, 11,800 more than the previous year (a rise of 14%), and the average value was £13,000 (2022: £15,000). For the first time, … Read more