India: FDI Cap in the Insurance Sector Raised to 100%
Major Update on the Liberalization of India's Insurance Sector: FDI Cap Raised to 100% We are pleased to share an important development in the Indian insurance sector following the Honourable Finance Minister's announcement on February 1, 2025. The Foreign Direct Investment [...]
Bahrain: Increase in employer social security contributions
On January 21, 2025, an increase of 1% in employer contributions to mandatory social insurance took effect in Bahrain, bringing the total employer contribution to 17%. Employee contributions will remain unchanged at 8%, with 7% allocated to social insurance and 1% [...]
Hungary: Important information for building contractors and planners
As of January 15, 2025, contractors and planners in Hungary will be legally required to take out liability insurance in order to carry out their activities. Please ensure that you make the necessary arrangements in time. The basis for calculating the [...]
India: Key Changes in Property/Business Interruption Insurance Pricing
We would like to inform you about significant developments in the pricing of Property and Business Interruption Insurance policies in the Indian market, effective for policies incepting from January 1, 2025, or later. While the announcement of “de-tariffing” from April 1, [...]
New environmental fund in Finland
Starting on January 1, 2025, Finland will implement the Finnish Environmental Damage Fund, ensuring compensation for environmental damage caused by specific high-risk activities. This initiative aims to shift the financial burden of such damages away from taxpayers and onto the businesses [...]
Mandatory Natural Disaster Insurance for Businesses in Greece
From January 1, 2025, Greek law 5116/2024 will require companies with a certain annual turnover to take out insurance against natural disasters. This law, designed to safeguard business continuity, aims to ensure that natural disaster-related financial losses are borne by insurance [...]
Argentina: New incentive program for large investments
Argentina recently introduced the Incentive Regime for Large Investments (RIGI), an ambitious federal initiative designed to attract substantial investments across multiple sectors, including forestry, tourism, infrastructure, mining, technology, steel, energy, and oil and gas. Launched by Law 27.742 and effective from [...]
Zurich entered Indian insurance market for the first time
Zurich Insurance Group is making a significant move into the Indian insurance market by acquiring a 51% stake in Kotak Mahindra General Insurance for ₹4,051 crore (approximately $500 million). This investment is part of Zurich's broader strategy to expand its presence [...]