Category

Govt may target disinvestment in the merged PSU insurer in 2019-20

Indian News       Jan 22, 2019

:  New Delhi: The Indian government is likely to seek to raise about 800 billion rupees ($11.21 billion) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters on Tuesday.The...

Music team joins Miller to grow music and entertainment offering

International News       Jan 22, 2019

  London: Miller has continued its rapid expansion into the entertainment market with the hire of four specialists in music insurance, led by Martin Goebbels, who is joined by Rose Burgess, Holly Leary and Pamela Choat.   Having worked together for many years, the team has extensive...

HDFC Life net at Rs 913 cr, up 20 %, in Apr-Dec

Indian News       Jan 22, 2019

  Mumbai: The net profit of  HDFC Life at Rs 913 crore, up 20 per cent, in the nine months ended in Dec 2018.   The net profit was Rs 762 crore in the corresponding period of 2017-18.   Total Premium of the life insurer had gone up...

Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report

International News       Jan 22, 2019

  Chicago: Aon's Weather, Climate & Catastrophe Insight: 2018 Annual Report reveals that 394 natural catastrophe events in 2018 generated economic losses of USD225 billion.   Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record....

France uses strict EU privacy law first time, fines Google 50 mn euros

International News       Jan 22, 2019

Paris: France's data watchdog on Monday announced a fine of 50 million euros ($57 million) for US search giant Google, using the EU's strict General Data Protection Regulation (GDPR) for the first time.   Google was handed the record fine from the CNIL regulator for failing...

LIC completes acquisition of 51% stake in IDBI Bank

Indian News       Jan 21, 2019

  Mumbai: IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.   "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with...

Mathur Panel favours health insurance claim payments in installments

Indian News       Jan 21, 2019

  Hyderabad: A Working Group,  constituted by the IRDAI, under Suresh Mathur, executive director, IRDAI,has recommended that the general and health insurance companies may be allowed to offer the option of payment of claims in installments or in lump-sum upon happening of a contingent event in...

L to R-CB Murli, CEO, AGCS, India , Sinéad Browne, AGCS Board Member and Chief Regions and Markets Officer for Asia Pacific Mark Mitchell, Regional CEO AGCS Asia Pacificat the lauch of AGCS's India reinsurance operations in Mumbai

AGCS opens reinsurance branch in India, targets EUR50 million premium over next 5 yrs

International News       Jan 21, 2019

  Mumbai: Allianz Global Corporate & Specialty SE (AGCS), dedicated carrier for corporate and specialty insurance business of German insurance giant Allianz SE, launched their new India reinsurance branch office in Mumbai on Monday and is targeting  €  50 million premium over the next five years.  ...

India’s richest 1% get richer by 39% in 2018; just 3% rise for bottom-half: Oxfam

Indian News       Jan 21, 2019

  Davos:  India's richest 1% get richer by 39 percent in 2018, just 3 percent rise for bottom-half: Oxfam   At Davos, Oxfam said this increasing inequality is undermining the fight against poverty, damaging economies and fuelling public anger across the globe   Indian billionaires saw their fortunes...

World's oldest man dies in Japan at 113

Facts       Jan 20, 2019

  ‘World's oldest man’ Masazo Nonaka, who was born in 1905, just two years after the Wright brothers launched humanity's first powered flight, died on January 20, aged 113, Japanese media said.   Nonaka was born in July 1905, according to Guinness World Records — just months...

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