Non-Life

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...

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....

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.  ...

ICICI General's net profit remains flat at Rs 239 cr in Q3FY 2018-19

Indian News       Jan 18, 2019

  Mumbai: With higher expenses, ICICI Lombard General Insurance, the country's largest private sector general insurance company, at  Rs 239 crore, has posted a growth of 3.2 per cent in its net profit during the third quarter ending in Dec 2018 as compared to Rs 232...

Headlights are passé: Luxury cars of the future will be illuminated with lasers

Facts       Jan 17, 2019

  Most people don’t turn on their car’s headlights and think, I wish they were brighter. Shuji Nakamura is not most people.   The Nobel Prize-winning illumination scientist has spent the past five years developing a laser-based lighting system. His company, SLD Laser, says the new design...

Major farm measures likely in coming weeks: Agriculture Minister

Indian News       Jan 17, 2019

  New Delhi: Agriculture Minister Radha Mohan Singh Thursday indicated announcement of major measures in the coming weeks to address farm distress across the country, a move that will come ahead of Lok Sabha elections.    The agriculture ministry has prepared a cabinet note on "addressing income...

Bill Gates congratulates Indian government for Ayushman Bharat scheme

Indian News       Jan 17, 2019

  New Delhi: Microsoft co-founder Bill Gates has congratulated the Indian government for the successful completion of the first 100 days of the healthcare scheme Ayushman Bharat from its launch.   The response from Gates came after Union Health Minister JP Nadda wrote on Twitter that 6,85,000...

``Rising geopolitical and geo-economic tensions are the most urgent risk in 2019''

International News       Jan 16, 2019

    Mumbai: According to the the World Economic Forum’s Global Risks Report, rising geopolitical and geo-economic tensions are the most urgent risk in 2019, with 90% of experts saying they expect further economic confrontation between major powers in 2019.   The report released on Wednesday said environmental...

There may be no tax on income up to ₹500,000

Indian News       Jan 16, 2019

  New Delhi: With middle-class apathy on the rise, Finance Minister Arun Jaitley may double the income tax exemption threshold for the salaried from the present ₹250,000 to ₹500,000 while also reinstating tax-free status for medical expenses and transport allowance, providing some relief to the section...

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