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News on Medial
FSIB set to soon kick off selection process for GIC Re chief
Economic Times
·
1m ago
Medial
The Financial Services Institutions Bureau (FSIB) is set to select a new chairman and managing director for the General Insurance Corporation of India (GIC Re), the country's largest reinsurer. The outgoing chairman, N Ramaswamy, will end his two-year term in September. FSIB has also named Doraiswamy Ramchandran as chief executive and managing director at Life Insurance Corporation of India. GIC Re reported a profit decline due to weaker underwriting, despite an increase in premium collections.
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Jio-Allianz, Fairfax-backed Valueattics Re set to shake up India’s Rs 50,000-cr reinsurance market
Economic Times
·
18d ago
Medial
India's reinsurance market is set for significant changes with the entry of Jio-Allianz and Valueattics Re, a Fairfax-backed joint venture. This move will challenge the state-run GIC Re's dominance, which currently holds 51% of the ₹50,000-crore market. New entrants like Jio-Allianz may gain an advantage due to regulatory norms that prioritize local reinsurers. This venture is expected to leverage digital reach and global expertise to enhance competition further in the Indian reinsurance landscape.
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Sony gaming chief Jim Ryan to retire, group president to be interim head
Economic Times
·
1y ago
Medial
Sony gaming chief Jim Ryan is set to retire, with Sony Group President Yoshida Kenichiro taking over as interim head, according to sources. Ryan served as the CEO of Sony Interactive Entertainment, overseeing the launch of the PlayStation 5. Sony is expected to make an official announcement soon.
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TPG’s India healthcare platform goes for internal rejig as GIC buying majority stake
VCCircle
·
5m ago
Medial
Asia Healthcare Holdings (AHH), a healthcare platform backed by TPG and GIC, is undergoing an internal reorganization. GIC, the Singaporean sovereign wealth fund, is in the process of acquiring a majority stake in the company. AHH consists of three single-speciality healthcare chains: Motherhood, Nova IVF, and another specialized facility. The restructuring aligns with GIC's investment, aiming to enhance operational efficiency and expand AHH's presence in the healthcare sector.
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Britain's Lloyds shake-up puts around 2,500 jobs at risk
Livemint
·
1y ago
Medial
Lloyds, the largest high street bank in Britain, is set to put around 2,500 jobs at risk as part of a cost-cutting measure, according to a source. The bank plans to begin a consultation with staff in various roles, including analysts and product managers, with the possibility of job cuts after a selection process. The move comes as other banks in the country, such as Barclays, are also looking to reduce costs by slashing jobs.
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The tech behind Rivian’s 2026 Quad Motor truck and SUV — and that kick turn | TechCrunch
TechCrunch
·
1m ago
Medial
Rivian's 2026 Quad Motor truck and SUV promise power and innovation with features like the "kick turn" for off-roading and "RAD Tuner" for customizable driving dynamics. The vehicles boast four motors offering 1,025 horsepower, accelerating from 0 to 60 in under 2.5 seconds. Rivian's in-house hardware and software enhance torque control and driving experience, while also providing access to Tesla's Supercharger network to solidify connectivity and functionality in its latest EV models.
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Gemini is getting ready to replace Google Assistant on Android
The Verge
·
1m ago
Medial
Google is set to update Gemini, which will soon replace Google Assistant on Android. Users can have Gemini perform tasks like calls and messages without contributing to Google’s AI training, addressing privacy concerns. The update, effective from July 7th, allows use of phone functionalities even if Gemini Apps Activity is turned off. Google clarified that app connections are optional and conversations are stored temporarily for security without affecting privacy settings.
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Nigerian PE firm CardinalStone to make first exit from debut fund
VCCircle
·
1y ago
Medial
Nigerian private equity firm, CardinalStone Capital Advisers, is set to make its first exit from its debut fund. The Lagos-based firm, which focuses on supporting small and medium businesses in Nigeria and Ghana, has been invested in the portfolio company for nearly five years. CardinalStone, which was spun off from CardinalStone Partners in 2016, is currently working on the exit process.
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GIC mints money as Spain’s Ferrovial buys into IRB InvIT for $810 mn
VCCircle
·
1y ago
Medial
Singapore sovereign wealth fund GIC is selling almost half its stake in IRB Infrastructure Trust, an infrastructure investment trust in India, for €740m ($810m). GIC is offloading 24% of the units in the InvIT and a similar stake in its investment manager to Cintra, a subsidiary of Spanish infrastructure development company Ferrovial. GIC had acquired a 49% stake in the InvIT in 2019 for $621m. Following the partial exit, GIC retains a 25% stake in the InvIT and the investment manager.
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Nigerian PE firm CardinalStone to make first exit from debut fund
VCCircle
·
1y ago
Medial
Nigerian private equity firm CardinalStone Capital Advisers is set to make its first exit from its debut fund after nearly five years. The Lagos-based firm, which focuses on supporting small and medium-sized businesses in Nigeria and Ghana, is in the process of exiting one of its portfolio companies. This exit marks a significant milestone for CardinalStone since it spun off from CardinalStone Partners in 2016.
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How to pick a name for your startup: a step-by-step guide
Internet
·
1y ago
Medial
Choosing a startup name is crucial. This guide provides a step-by-step process, from brainstorming and research to legal considerations and final selection, helping you find a name that aligns with your business, resonates with customers, and stands out in the market.
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