Non Life-News

China jails insurer PICC's ex-president for corruption: state media

International News       May 24, 2018

BEIJING:   The former president of the People’s Insurance Company (Group) of China Ltd was jailed for 11 years for taking bribes, state media reported on Thursday, the latest senior executive brought down by Beijing’s anti-graft campaign.   Wang Yincheng, who was also a vice Communist Party...

Stronger insurance rules to protect victims of motor vehicle accidents in EU

International News       May 24, 2018

  Brussels: The European Commission is today proposing to strengthen EU rules on motor insurance to better protect victims of motor vehicle accidents and improve the rights of insurance policyholders.   Today's proposal will ensure that victims of motor vehicle accidents receive the full compensation they are...

MN Sarma,CMD, UII

UII's net profit at Rs 1003 cr in 2017-18, improves combined ratio, underwriting losses and solvency margin

Indian News       May 23, 2018

  Chennai: Chennai based United India Insurance(UII), one of the merging state run general insurers, has improved its key financial numbers significantly in terms of net profit , combined ratio, underwriting losses and solvency margin in 2017-18.   The company has recorded a net profit of Rs...

EU says it can't guarantee Brexit won't hit financial contracts

International News       May 18, 2018

  LONDON:- There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on Thursday.   Valdis Dombrovskis was asked by EU lawmakers whether he could...

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance Company

Bajaj Allianz General Insurance records a net profit of Rs 921 cr, up 27 % in FY 18

Indian News       May 18, 2018

  Pune:  Improving its  combined ratio further to 92.3 per cent in FY 17-18 over 96.8 per cent in 2016-17,Bajaj Allianz General Insurance, recorded a net profit of Rs 921 crore for FY 17-18, up 27 per cent, compared to Rs. 728 crore in the previous...

3 panels grill 9 candidates for selecting CMDs of NIA,UII &NIC

Indian News       May 18, 2018

  New Delhi: Three committees formed by the ministry of finance(MoF) has interviewed nine candidates on Thursday for selecting new CMDs of three public sector general insurance companies- New India Assurance(NIA),United India Insurance(UII) and National Insurance Company(NIC). Though 10 candidates were called for the interview ,...

Girija Kumar, CMD, OIC.  Girija Kumar, CMD, OIC.   Girija Kumar, CMD,, Oriental Insurance Company

Oriental Insurance records a net profit of Rs 1510 crore in 2017-18  against losses of Rs 1691 in 2016-17

Indian News       May 17, 2018

  New Delhi: Effecting a remarkable turnaround in performance, Delhi based Oriental Insurance Company(OIC) has posted a net profit of Rs 1510 crores in 2017-18 as against  losses of Rs 1691 crores in 2016-17.   The company which is one of the merged entities in the government’s...

Allianz Global Corporate & Specialty outlines 5-year growth ambition for South Korean branch

International News       May 16, 2018

  Seoul: Allianz Global Corporate & Specialty (AGCS), the first foreign non-life insurer in almost a decade to receive regulatory approval from South Korea’s Financial Services Commission (FSC) to open a branch in Seoul, has recorded a strong start to its operations in the country and...

10 candidates to be interviewed on May 17 for selecting CMDs of NIA,UII &NIC

Indian News       May 15, 2018

  New Delhi: Finally, the ministry of finance(MoF) has decided to hold the interviews of 10 candidates to select the new CMDs of  three public sector general insurance companies-New India Assurance(NIA). National Insurance Company(NIC), United India Insurance(UII)- on May 17.  While the post of CMD at...

Iran Oil exports face insurance snag no matter what Europe wants

International News       May 15, 2018

  If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude.   From early November, U.S. sanctions...

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