India

Allianz SE is in talks to scrap two joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter.

As soon as temperatures breached 43.6C in Ahmedabad, Makwana and thousands of other women were told that ICICI Lombard, an insurance company, would pay them a portion of their daily wages.

The acquisition will expand Aon's outreach in India's commercial risk, health and reinsurance sectors.

A list with the names of about 100 global investors has been shared with the 10 banks working on the deal and the institutions will approach different sets of investors, according to people with knowledge of the matter who asked not to be named as discussions are private.

Kotak Mahindra Capital Co., JM Financial Ltd., Citigroup Inc. and Nomura Holdings Inc. are also on the shortlist, based on their technical and financial bids, after 16 investment banks presented their pitches to the government on Thursday, the people said, asking not to be identified because the information isn’t public.

Allowing FDI in LIC would permit so-called strategic investors such as massive pension funds or insurance firms to participate in the initial public offering, which is slated to be India’s largest ever.

Business payments gateway Cashfree has established new features for its insurance, web aggregator and broker clients in India to streamline policy premium collection, claim settlement and payouts to agents and hospitals.